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Nordstrom Exhibit 99.1
For Immediate Release
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April 9, 2003
INVESTOR CONTACT:
Stephanie Allen
Nordstrom, Inc.
(206)303-3262
MEDIA CONTACT:
Shasha Richardson
Nordstrom, Inc.
(206)373-3038
NORDSTROM REPORTS MARCH 2003 SALES
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SEATTLE - April 9, 2003 - Nordstrom, Inc. (NYSE: JWN) today reported
preliminary sales of $518.0 million for the five-week period ending April 5,
2003, an increase of 2.9 percent compared to sales of $503.6 million for the
five-week period ending April 6, 2002. Same-store sales decreased 1.7
percent, in-line with the company's recently revised expectations.
For the five-week period, same-store sales in full-line stores increased
in the Central States and East Coast geographic regions but decreased in the
Northwest and Southwest regions. By merchandise division, same-store sales
increased in Cosmetics, Accessories and Women's Active Wear, while Women's
Shoes and the Designer and Bridge segments of Women's Apparel were flat for
the month.
Preliminary quarter-to-date (February - March) sales of $885.7 million
increased 2.7 percent compared to 2002 quarter-to-date sales of $862.6
million. Quarter-to-date same-store sales decreased 1.9 percent.
FUTURE REPORTING DATES
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Nordstrom's financial release calendar for the next several months is provided
in the table below.
April Sales Release Wed., May 7, 2003
First Quarter Earnings Mon., May 19, 2003
Annual Meeting Tue., May 20, 2003
May Sales Release Wed., June 4, 2003
Nordstrom, Inc. is one of the nation's leading fashion specialty
retailers, with 143 US stores located in 27 states. Founded in 1901 as a shoe
store in Seattle, today Nordstrom operates 89 full-line stores, 47 Nordstrom
Racks, five Faconnable boutiques, one free-standing shoe store, and one
clearance store. Nordstrom also operates 24 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 Mar. Mar. YTD YTD
(unaudited; $ in millions) 2003 2002 2003 2002
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<s> <c> <c> <c> <c>
Total sales $518.0 $503.6 $885.7 $862.6
Total sales percentage change 2.9% 1.8% 2.7% 1.3%
Same-store sales percentage change
Full-line stores (1.6%) (1.8%) (1.9%) (3.0%)
Rack and other stores (1.8%) 2.7% (2.1%) 0.2%
All stores (1.7%) (1.3%) (1.9%) (2.6%)
Number of stores (as of April 5, 2003)
Full-line 89 83
Rack and other 54 52
International
Faconnable boutiques 24 24
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Total 167 159
Gross square footage
(as of April 5, 2003) 18,613,000 17,447,000
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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 results,
store openings and distribution channels, planned capital expenditures, and
trends in company operations. Actual future results and trends may differ
materially from historical results or current expectations depending upon
factors including, but not limited to, the company's ability to predict
fashion trends, consumer apparel buying patterns, the company's ability to
control costs, weather conditions, hazards of nature such as earthquakes and
floods, trends in personal bankruptcies and bad debt write-offs, changes in
interest rates, employee relations, the company's ability to continue its
expansion plans, and the impact of economic and competitive market forces,
including the impact of terrorist activity or the impact of a war on the
company, its customers and the retail industry. Our SEC reports may contain
other information on these and other factors that could affect our financial
results and cause actual results to differ materially from any forward-looking
information we may provide.
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