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For Immediate Release
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April 7, 2005
NORDSTROM MARCH SAME-STORE SALES INCREASE 5.5 PERCENT
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SEATTLE - April 7, 2005 - Nordstrom, Inc. (NYSE: JWN) today reported
preliminary sales of $657.3 million for the five-week period ending April 2,
2005, an increase of 6.7 percent compared to sales of $616.3 million for the
five-week period ending April 3, 2004. Same-store sales increased 5.5 percent
(1).
Preliminary quarter-to-date sales of $1.1 billion increased 7.6 percent
compared to 2004 quarter-to-date sales of $1.0 billion. Quarter-to-date same-
store sales increased 6.3 percent.
Sales Recording
To hear Nordstrom's prerecorded March sales message, please dial (402)
220-6036. This recording will be available for one week.
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SALES SUMMARY Total Sales Same-store Sales (1)
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(unaudited; Fiscal Fiscal Percent Total Full-Line Rack
$ in millions) 2005 2004 Increase Retail Stores Stores
--------- --------- -------- ------ --------- ------
<s> <c> <c> <c> <c> <c> <c>
March $657.3 $616.3 6.7% 5.5% 3.7% 15.4%
Quarter-to-Date $1,122.7 $1,043.7 7.6% 6.3% 4.5% 16.7%
Number of stores
Full-line 95 93
Rack and other 56 56
International
Faconnable
boutiques 31 31
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Total 182 180
Gross square
footage 19,550,000 19,289,000
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Balance Sheet and Cash Flow Restatements
Tomorrow, April 8, 2005, Nordstrom is planning to file an amended Form
10-K for the year ended January 31, 2004, along with an accompanying Form 8-K
report, in order to correct two errors in previously issued balance sheet and
cash flow statements. The corrections relate to an evaluation of Nordstrom's
lease accounting policy, which was first announced along with fourth quarter
earnings in February. Previously reported net earnings, earnings per share,
shareholders' equity and long-term debt are not impacted by these corrections.
(1) Effective February 2005, Nordstrom Direct sales, which include catalog
and Internet, are included in Total Retail same-store sales. To serve as a
basis for comparison, as this was not the case last year, a presentation of
2004 monthly, quarterly and full-year same-store sales that includes Nordstrom
Direct is available on the Investor Relations homepage of our website under
Recent Reports.
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Future Reporting Dates
Nordstrom's financial release calendar for the next several months is
currently planned as follows:
April Sales Release Thurs., May 5, 2005
First Quarter Earnings Tues., May 17, 2005
Shareholder Meeting Tues., May 24, 2005
May Sales Release Thurs., June 2, 2005
June Sales Release Thurs., July 7, 2005
Nordstrom, Inc. is one of the nation's leading fashion specialty
retailers, with 151 US stores located in 27 states. Founded in 1901 as a shoe
store in Seattle, today Nordstrom operates 95 full-line stores, 49 Nordstrom
Racks, five Faconnable boutiques, one free-standing shoe store, and one
clearance store. Nordstrom also operates 31 international Faconnable
boutiques in Europe. Additionally, Nordstrom serves customers through its
online presence at http://www.nordstrom.com and through its direct mail
catalogs.
Investor Contact: Media Contact:
Stephanie Allen, 206-303-3262 Deniz Anders, 206-373-3038