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NORDSTROM
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For Immediate Release
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February 5, 2003
INVESTOR CONTACT:
Stephanie Allen
Nordstrom, Inc.
(206)303-3262
MEDIA CONTACT:
Shasha Richardson
Nordstrom, Inc.
(206)373-3038
NORDSTROM REPORTS JANUARY 2003 SALES
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SEATTLE - February 5, 2003 - Nordstrom, Inc. (NYSE: JWN) today reported
preliminary sales of $316.5 million for the four-week period ending February
1, 2003, an increase of 6.7 percent compared to sales of $296.6 million for
the four-week period ending February 2, 2002. Same-store sales increased 0.8
percent.
For the four-week period, same-store sales in full-line stores increased
in the Central States, East Coast and Northwest geographic regions. By
merchandise division, same-store sales increased in the Designer and
Contemporary segments of Women's Apparel, as well as Cosmetics, Accessories,
Women's Shoes, Men's Wear, Women's Active Wear and Children's Apparel.
Preliminary fourth quarter (November - January) sales(1) of $1.7 billion
increased 7.1 percent compared to 2001 quarter-to-date sales of $1.6 billion.
Quarterly same-store sales1 increased 1.5 percent.
Preliminary full-year sales of $6.0 billion increased 6.1 percent
compared to 2001 sales of $5.6 billion. Full-year same-store sales
increased 1.3 percent.
FUTURE REPORTING DATES
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Nordstrom's financial release calendar for the next several months is
provided in the table below. Please note that beginning in fiscal 2002
(February), sales are presented and reported according to the 4-5-4 retail
calendar, after the market close, on the Wednesday before Retail Sales Day.
Quarterly financial results will continue to be reported on a calendar
basis until the beginning of fiscal 2003 (February) at which time
quarterly results will also be presented on a 4-5-4 basis.
Fourth Quarter Earnings Thurs., February 20, 2003
February Sales Release Wed., March 5, 2003
March Sales Release Wed., April 9, 2003
Nordstrom, Inc. is one of the nation's leading fashion specialty
retailers, with 142 US stores located in 27 states. Founded in 1901
as a shoe store in Seattle, today Nordstrom operates 88 full-line
stores, 47 Nordstrom Racks, five Faconnable boutiques, one free-standing
shoe store, and one clearance store.
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Nordstrom also operates 23 international Faconnable boutiques, primarily
in Europe. Additionally, Nordstrom serves customers through its online
presence at http://www.nordstrom.com and through its direct mail catalogs.
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SALES SUMMARY Jan. Jan. QTD QTD YTD YTD
(unaudited; $ in millions) 2003 2002 2002 2001 2002 2001
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<s> <c> <c> <c> <c> <c> <c>
Total sales $316.5 $296.6 $1,729.3 $1,615.2 $5,966.5 $5,622.6
Total sales percentage change 6.7% (4.9%) 7.1% (2.8%) 6.1% 1.9%
Same-store sales percentage change
Full-line stores 0.5% (5.8%) 0.9% (4.4%) 0.7% (2.6%)
Rack and other stores 2.9% (6.7%) 7.6% (6.0%) 7.4% (6.0%)
All stores 0.8% (5.9%) 1.5% (4.6%) 1.3% (2.9%)
Number of stores (as of February 1, 2003)
Full-line 88 80
Rack and other 54 51
International Faconnable
Boutiques 23 24
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Total 165 155
Gross square footage (as of February 1, 2003)
18,385,000 17,011,000
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(1) Nordstrom reports monthly sales according to the 4-5-4 Retail Calendar. The
Company reports quarterly financial results on a calendar basis. Preliminary
fourth quarter sales for 2002 and 2001 were $1.8 billion and $1.6 billion,
respectively, on a calendar basis. Also on a calendar basis, preliminary fourth
quarter same-store sales were 1.9% higher than the prior year.
Certain statements in this news release contain "forward-looking"
information (as defined in the Private Securities Litigation Reform Act
of 1995) that involves risks and uncertainties, including anticipated
store openings and distribution channels, planned capital expenditures,
and trends in company operations. Actual future results and trends may
differ materially depending upon a variety of factors including, but not
limited to, the company's ability to source and manage appropriate
inventory, predict fashion trends and consumer apparel buying patterns,
and control costs and expenses; weather conditions; hazards of nature
such as earthquakes and floods; trends in personal bankruptcies and bad
debt write-offs; employee relations; the company's ability to continue its
expansion plans; and the impact of economic and competitive market forces,
including the effects of terrorist activity on the company, its customers
and the industry. The company's SEC reports may contain other information
on these and other factors, which could affect our financial results and
cause actual results to differ from any forward-looking information we may
provide.