EX-99.1 2 v42833exv99w1.htm EXHIBIT 99.1 exv99w1
Exhibit 99.1
(NORDSTROM LOGO)
             
FOR IMMEDIATE RELEASE
      INVESTOR CONTACT:   Chris Holloway
August 7, 2008
          Nordstrom, Inc.
 
          (206) 303-3290
 
            
 
      MEDIA CONTACT:   Michael Boyd
 
          Nordstrom, Inc.
 
          (206) 373-3038
NORDSTROM REPORTS JULY SALES
     SEATTLE (August 7, 2008) – Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $840 million for the four-week period ended August 2, 2008, a decrease of 6.7 percent compared to sales of $901 million for the four-week period ended August 4, 2007. Same-store sales decreased 6.1 percent.
     Preliminary second quarter sales of $2.29 billion decreased 4.3 percent compared to sales of $2.39 billion during the same period in 2007. Second quarter same-store sales decreased 6.0 percent.
     Preliminary year-to-date sales of $4.17 billion decreased 4.1 percent compared to sales of $4.34 billion for the same period in 2007. Year-to-date same-store sales decreased 6.2 percent.
Sales Recording
     To hear Nordstrom’s pre-recorded July sales message, please dial 800-891-8250 or 402-220-6036. This recording will be available for one week.
JULY SALES RESULTS
(unaudited; $ in millions)
                                                 
    Total Sales     Same-store Sales2  
                    Percent                      
    Fiscal     Fiscal     Increase/             Full-line     Rack  
    2008     20071     (Decrease)     Total     Stores     Stores  
July
   $ 840     $ 901       (6.7 %)     (6.1 %)     (9.1 %)     6.4 %
 
Second Quarter
   $ 2,287     $ 2,390       (4.3 %)     (6.0 %)     (9.0 %)     6.3 %
 
Year-to-date
   $ 4,166     $ 4,344       (4.1 %)     (6.2 %)     (9.1 %)     5.4 %
 
                                                
Number of stores as of July
                                                
Full-line
      105       98                                  
Rack and other
     54       55                                  
Façonnable boutiques3
     —       41                                  
 
                                            
Total
     159       194                                  
 
                                            
Gross square footage
     21,139,000       20,191,000                                  
 
1   Total sales results for fiscal 2007 include sales from the company’s international and domestic Façonnable boutiques.
 
2   Same-store sales results exclude sales from Façonnable.
 
3   On October 31, 2007, the company completed the sale of Façonnable.
Future Reporting Dates
     Nordstrom’s financial release calendar for the next three months is currently planned as follows:
             
 
  Second Quarter Earnings Release   Thurs., August 14, 2008    
 
  August Sales Release   Thurs., September 4, 2008    
 
  September Sales Release   Wed., October 8, 2008    
 
  October Sales Release   Thurs., November 6, 2008    
     Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers, with 159 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 105 full-line stores, 50 Nordstrom Racks, two Jeffrey boutiques, and two clearance stores. In addition, Nordstrom serves customers through its online presence at 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 quarterly and monthly results. 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 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, 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 ability to safeguard its brand and reputation, efficient and proper allocation of the company’s capital resources, trends in personal bankruptcies and bad debt write-offs, changes in interest rates, 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. 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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