EX-99.1 2 v54544exv99w1.htm EX-99.1 exv99w1
(NORDSTROM LOGO)   Exhibit 99.1
         
FOR IMMEDIATE RELEASE
  INVESTOR CONTACT:   Rob Campbell
January 7, 2010
      Nordstrom, Inc.
 
      (206) 303-3290
 
        
 
  MEDIA CONTACT:   Colin Johnson
 
      Nordstrom, Inc.
 
      (206) 373-3036
NORDSTROM REPORTS DECEMBER SALES
     SEATTLE, Wash. (January 7, 2010) — Nordstrom, Inc. (NYSE: JWN) today reported a 7.4 percent increase in same-store sales for the five-week period ended January 2, 2010 compared with the five-week period ended January 3, 2009. Preliminary total retail sales of $1.25 billion for December 2009 increased 10.8 percent compared with total retail sales of $1.13 billion for the same period in fiscal 2008.
     Quarter-to-date same-store sales increased 5.4 percent compared with the same period in fiscal 2008. Preliminary quarter-to-date total retail sales of $2.00 billion increased 8.9 percent compared with total retail sales of $1.83 billion for the same period in fiscal 2008.
     Year-to-date same-store sales decreased 5.1 percent compared with the same period in fiscal 2008. Preliminary year-to-date total retail sales of $7.72 billion decreased 1.1 percent compared with total retail sales of $7.80 billion for the same period in fiscal 2008.
     Nordstrom’s quarter-to-date overall performance exceeded its expectations. As a result, the company anticipates earnings per share for fiscal year 2009 will exceed the previously announced outlook of $1.83 to $1.88.
Sales Recording
     To hear Nordstrom’s pre-recorded December sales message, please dial 402-220-6036. This recording will be available for one week.
December Sales Results
(unaudited; $ in millions)
                                                                 
    Total Retail Sales   Same-store Sales
                                                    Multi-channel      
    Fiscal     Fiscal     % Increase/             Full-line             (Full-line Stores      
    2009     2008     (Decrease)        Total     Stores     Direct     and Direct)   Rack Stores
         
December
   $ 1,247     $ 1,125       10.8 %     7.4 %     5.1 %     30.1 %     7.8 %     5.2 %
 
                                                                
Quarter-to-date
   $ 1,996     $ 1,833       8.9 %     5.4 %     2.9 %     27.3 %     5.6 %     4.4 %
 
                                                                
Year-to-date
   $ 7,715     $ 7,803       (1.1 %)     (5.1 %)     (8.0 %)     12.1 %     (6.0 %)     2.3 %
 
                                                                
Number of stores
     1/02/10       1/03/09                                                  
                                                       
Full-line
     112       109                                                  
Rack and other
     72       60                                                  
 
                                                            
Total
     184       169                                                  
 
                                                            
 
                                                                
Gross square footage
     22,773,000       21,876,000                                                  

 

Future Reporting Dates
     Nordstrom’s planned financial release calendar for the next three months currently includes:
     
January Sales Release
  Thurs., February 4, 2010
Fourth Quarter Earnings Release
  Mon., February 22, 2010
February Sales Release
  Thurs., March 4, 2010
March Sales Release
  Thurs., April 8, 2010
About Nordstrom
Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers, with 184 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 112 full-line stores, 69 Nordstrom Racks, two Jeffrey boutiques and one clearance store. In addition, Nordstrom serves customers through its online presence at www.nordstrom.com and through its catalogs. Nordstrom, Inc’s common stock 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 trends in company operations, the company’s expected monthly financial result and anticipated earnings results for the fourth quarter and fiscal year 2009. 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 company’s ability to safeguard its brand and reputation, effective inventory management, efficient and proper allocation of the company’s capital resources, 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, trends in personal bankruptcies and bad debt write-offs, availability and cost of credit, impact of the current regulatory environment and financial system reforms, changes in interest rates, disruptions in the company’s supply chain, the company’s ability to maintain its relationship with vendors and developers who may be experiencing economic difficulties, the geographic locations of the company’s stores, the company’s ability to maintain its relationships with its employees and to effectively train and develop its future leaders, 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 information technology strategy, successful execution of the company’s multi-channel strategy, risks related to fluctuations in world currencies, public health concerns, weather conditions and hazards of nature that affect consumer traffic and consumers’ purchasing patterns, the effectiveness of planned advertising, marketing, and promotional campaigns, the company’s ability to control costs, 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 January 31, 2009 and its Form 10-Q for the fiscal quarter ended October 31, 2009. 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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