e8vk
 
 
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) January 8, 2009
NORDSTROM, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
         
WASHINGTON   001-15059   91-0515058
(STATE OR OTHER JURISDICTION
OF INCORPORATION)
  (COMMISSION FILE
NUMBER)
  (I.R.S. EMPLOYER
IDENTIFICATION NO.)
1617 SIXTH AVENUE, SEATTLE, WASHINGTON 98101
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT’S 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):
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

ITEM 7.01   REGULATION FD DISCLOSURE
On January 8, 2009, Nordstrom, Inc. issued a press release announcing its preliminary December 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.
         
  NORDSTROM, INC.
 
 
  By:   /s/ Michael G. Koppel    
    Michael G. Koppel   
    Executive Vice President and Chief Financial Officer   
 
Dated: January 8, 2009

 


 

EXHIBIT INDEX
     
EXHIBIT    
NUMBER   DESCRIPTION
99.1
  Nordstrom December 2008 Preliminary Sales Release, dated January 8, 2009.

 

exv99w1
Exhibit 99.1
(NORDSTROM LOGO)
         
FOR IMMEDIATE RELEASE
  INVESTOR CONTACT:   Chris Holloway
January 8, 2009
      Nordstrom, Inc.
 
      (206) 303-3290
 
       
 
  MEDIA CONTACT:   Brooke White
 
      Nordstrom, Inc.
 
      (206) 373-3030
NORDSTROM REPORTS DECEMBER SALES
     SEATTLE, Wash. (January 8, 2009) — Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $1.13 billion for the five-week period ended January 3, 2009, a decrease of 8.0 percent compared with sales of $1.22 billion for the five-week period ended January 5, 2008. Same-store sales for December decreased 10.6 percent compared with the same period in fiscal 2007.
     Preliminary quarter-to-date sales of $1.83 billion decreased 9.6 percent compared with sales of $2.03 billion during the same period in fiscal 2007. Quarter-to-date same-store sales decreased 12.7 percent compared with the same period in fiscal 2007.
     Preliminary year-to-date sales of $7.80 billion decreased 6.5 percent compared with sales of $8.34 billion for the same period in fiscal 2007. Year-to-date same-store sales decreased 8.9 percent compared with the same period in fiscal 2007.
     While sales trends have been challenging, Nordstrom’s holiday sales performance exceeded its expectations. The company continues to make the appropriate inventory adjustments and expects inventory levels to be more aligned with current sales trends by the end of the fiscal year. As a result of higher than expected competitive markdown pressure across the industry, the company now expects that its earnings per share for the fourth quarter will not meet its previously announced outlook of $0.35 to $0.45.
Sales Recording
     To hear Nordstrom’s pre-recorded December sales message, please dial 800-891-8250 or 402-220-6036. This recording will be available for one week.
DECEMBER SALES RESULTS (unaudited; $ in millions)
                                                 
    Total Sales     Same-store Sales2  
                    Percent                      
    Fiscal     Fiscal     Increase/             Full-line     Rack  
    2008     20071     (Decrease)     Total     Stores     Stores  
December
  $ 1,125     $ 1,223       (8.0 %)     (10.6 %)     (12.8 %)     (1.8 %)
 
                                               
Quarter-to-date
  $ 1,833     $ 2,028       (9.6 %)     (12.7 %)     (15.3 %)     (1.3 %)
 
                                               
Year-to-date
  $ 7,803     $ 8,342       (6.5 %)     (8.9 %)     (12.1 %)     3.5 %
                                                 
Number of stores   1/03/09     1/05/08                                  
                                         
Full-line
     109       101                                  
Rack and other
    60       55                                  
 
                                           
Total
    169       156                                  
 
                                           
Gross square footage
    21,876,000       20,502,000                                  
 
1   Fiscal 2007 year-to-date total sales results include sales from the company’s domestic Façonnable boutiques through October 31, 2007 and sales from the company’s international and wholesale Façonnable business through August 31, 2007.
 
2   Same-store sales results exclude sales from Façonnable.

 


 

Future Reporting Dates
     Nordstrom’s financial release calendar for the next three months is currently planned as follows:
             
 
  January Sales Release   Thurs., February 5, 2009    
 
  Fourth Quarter Earnings Release   Mon., February 23, 2009    
 
  February Sales Release   Thurs., March 5, 2009    
 
  March Sales Release   Thurs., April 9, 2009    
     Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers, with 169 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 109 full-line stores, 56 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 company’s expected monthly financial result and anticipated earnings results for the fourth quarter. Such statements are based upon the current beliefs and expectations of the company’s 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 deteriorating economic and market conditions and the resultant impact on consumer spending patterns, the company’s 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, successful execution of the company’s store growth strategy including the timely completion of construction associated with newly planned stores, relocations and remodels, all of which may be impacted by the financial health of third parties, the company’s compliance with applicable banking and related laws and regulations impacting the company’s ability to extend credit to its customers, the company’s compliance with information security and privacy laws and regulations, employment laws and regulations and other laws and regulations applicable to the company, successful execution of the company’s multi-channel strategy, the company’s ability to safeguard its brand and reputation, efficient and proper allocation of the company’s capital resources, successful execution of the company’s technology strategy, trends in personal bankruptcies and bad debt write-offs, availability and cost of credit, changes in interest rates, the company’s ability to maintain its relationships with its employees and to effectively train and develop its future leaders, the company’s 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 company’s SEC reports, including its Form 10-K for the fiscal year ended February 2, 2008 and its Form 10-Q for the fiscal quarter ended November 1, 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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