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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) May 2, 2005
NORDSTROM CREDIT, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Colorado 0-12994 91-1181301
(STATE OR OTHER JURISDICTION (COMMISSION FILE (I.R.S. EMPLOYER
OF INCORPORATION) NUMBER) IDENTIFICATION NO.)
13531 East Caley Avenue, Centennial, Colorado 80111
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE 303-397-4700
INAPPLICABLE
(FORMER NAME OR FORMER ADDRESS IF CHANGED SINCE LAST REPORT)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2 below):
___ Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
___ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
___ Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
___ Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 4.02 NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS OR A
RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW
(a) On May 2, 2005, the management of Nordstrom Credit, Inc. (the "Company")
concluded that the consolidated statements of cash flows reported in the
Company's Form 10-K filing for the year ended January 31, 2004 and the Form
10-Q filings for the three interim quarters of fiscal year 2004 should be
restated in order to correct a classification error, discussed in detail
below. As such, the previously filed financial statements should no longer be
relied upon.
We historically classified the cash we have loaned to our affiliate, Nordstrom
fsb, as an operating activity in our statements of cash flows. After a review
of our cash flow disclosure policies, we determined that this activity should
be classified in investing activities and, accordingly, we will restate our
previously issued consolidated statements of cash flows.
We have also reclassified balances in our previously issued financial
statements to conform to our current presentation.
Management discussed these matters with our independent registered public
accounting firm, Deloitte & Touche LLP, which concurred with our decisions.
The restatement and reclassifications will not change our previously reported
net earnings or shareholders' equity.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
NORDSTROM, INC.
By: /s/ Michael G. Koppel
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Michael G. Koppel
Vice President and Treasurer
Dated: May 6, 2005