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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) November 6, 2008
NORDSTROM, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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WASHINGTON
(STATE OR OTHER JURISDICTION
OF INCORPORATION)
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001-15059
(COMMISSION FILE
NUMBER)
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91-0515058
(I.R.S. EMPLOYER
IDENTIFICATION NO.) |
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1617 SIXTH AVENUE, SEATTLE, WASHINGTON
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98101 |
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
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(ZIP CODE) |
REGISTRANTS TELEPHONE NUMBER, INCLUDING AREA CODE (206) 628-2111
INAPPLICABLE
(FORMER NAME OR FORMER ADDRESS IF CHANGED SINCE LAST REPORT)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2 below):
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Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)) |
TABLE OF CONTENTS
ITEM 7.01 REGULATION FD DISCLOSURE
On November 6, 2008, Nordstrom, Inc. issued a press release announcing
its preliminary October 2008 sales. A copy of this press release is attached as Exhibit 99.1.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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NORDSTROM, INC.
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By: |
/s/ Michael G. Koppel
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Michael G. Koppel |
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Executive Vice President and
Chief Financial Officer |
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Dated: November 6, 2008
EXHIBIT INDEX
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EXHIBIT |
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NUMBER |
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DESCRIPTION |
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99.1 |
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Nordstrom October 2008 Preliminary Sales Release, dated
November 6, 2008. |
exv99w1
Exhibit 99.1
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FOR IMMEDIATE RELEASE
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INVESTOR CONTACT:
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Chris Holloway |
November 6, 2008
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Nordstrom, Inc. (206) 303-3290 |
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MEDIA CONTACT:
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Brooke White |
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Nordstrom, Inc. |
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(206) 373-3030 |
NORDSTROM REPORTS OCTOBER SALES
SEATTLE, WA (November 6, 2008) Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales
of $529 million for the four-week period ended November 1, 2008, a decrease of 15.5 percent
compared with sales of $626 million for the four-week period ended November 3, 2007. October
same-store sales decreased 15.7 percent, compared with the same period in 2007.
Preliminary third quarter sales of $1.80 billion decreased 8.4 percent compared with sales of
$1.97 billion during the same period in 2007. Third quarter same-store sales decreased 11.1
percent, compared with the same period in 2007.
Preliminary year-to-date sales of $5.97 billion decreased 5.4 percent compared with sales of
$6.31 billion for the same period in 2007. Year-to-date same-store sales decreased 7.7 percent,
compared with the same period in 2007.
The
economic and competitive retail environment remained challenging
during the month of October and the company now expects that earnings
for the third quarter will be slightly below its previously announced
earnings per share outlook of $0.32 to $0.37.
Sales Recording
To hear Nordstroms pre-recorded October sales message, please dial 800-891-8250 or
402-220-6036. This recording will be available for one week.
OCTOBER SALES RESULTS
(unaudited; $ in millions)
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Total Sales |
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Same-store Sales2 |
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Fiscal |
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Fiscal |
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Percent Increase/ |
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Full-line |
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Rack |
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2008 |
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20071 |
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(Decrease) |
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Total |
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Stores |
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Stores |
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October |
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$ |
529 |
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$ |
626 |
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(15.5 |
%) |
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(15.7 |
%) |
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(20.4 |
%) |
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0.7 |
% |
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Third Quarter |
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$ |
1,805 |
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$ |
1,970 |
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(8.4 |
%) |
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(11.1 |
%) |
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(15.6 |
%) |
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3.6 |
% |
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Year-to-date |
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$ |
5,971 |
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$ |
6,314 |
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(5.4 |
%) |
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(7.7 |
%) |
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(11.0 |
%) |
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4.8 |
% |
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Number of stores as
of November 1, 2008 |
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Full-line |
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108 |
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101 |
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Rack and other |
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58 |
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56 |
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Total |
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166 |
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157 |
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Gross square footage |
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21,717,000 |
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20,542,000 |
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1 |
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Total sales results for fiscal 2007 include sales from the companys domestic
Façonnable boutiques through October 31, 2007. Fiscal 2007 third quarter and year-to-date total
sales results also include sales from the companys international and wholesale Façonnable business
through August 31, 2007. |
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Same-store sales results exclude sales from Façonnable. |
Expansion Update
Nordstrom plans to open one full-line store in the upcoming fiscal month at Waterside Shops
in Naples, Fla., on November 7, 2008. Nordstrom also plans to open two new Rack stores in the
upcoming fiscal month at Liberty Tree Mall in Danvers, Mass. and The Rim in San Antonio, Tex.
Future Reporting Dates
Nordstroms financial release calendar for the next three months is currently planned as
follows:
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Third Quarter Earnings Release
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Thurs., November 13, 2008 |
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November Sales Release
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Thurs., December 4, 2008 |
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December Sales Release
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Thurs., January 8, 2009 |
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January Sales Release
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Thurs., February 5, 2009 |
Nordstrom,
Inc. is one of the nations leading fashion specialty retailers, with 167 stores
located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 108
full-line stores, 55 Nordstrom Racks, two Jeffrey boutiques, and two clearance stores. In
addition, Nordstrom serves customers through its online presence at http://www.nordstrom.com and
through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
Certain statements in this news release contain or may suggest forward-looking information
(as defined in the Private Securities Litigation Reform Act of 1995), including the companys
expected monthly financial results, anticipated earnings results for
the third quarter, and anticipated store openings. Such statements are based upon
the current beliefs and expectations of the companys management and are subject to significant
risks and uncertainties. Actual future results and trends may differ materially from historical
results or current expectations depending upon factors including, but not limited to the impact of
economic and market conditions and the resultant impact on consumer spending patterns, the
companys ability to respond to the business environment and fashion trends, the competitive
pricing environment within the retail sector, effective inventory management, the effectiveness of
planned advertising, marketing, and promotional campaigns, the companys compliance with applicable
banking and related laws and regulations impacting the companys ability to extend credit to its
customers, the companys ability to safeguard its brand and reputation, efficient and proper
allocation of the companys capital resources, trends in personal bankruptcies and bad debt
write-offs, changes in interest rates, the companys ability to control costs, risks related to
fluctuations in world currencies, weather conditions and hazards of nature that affect consumer
traffic and consumers purchasing patterns, and the timing and amounts of share repurchases by the
company. For additional information regarding these and other risk factors, please refer to the
companys SEC reports, including its
Form 10-K for the fiscal year ended February 2, 2008. The
company undertakes no obligation to update or revise any forward-looking statements to reflect
subsequent events, new information or future circumstances.
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