Nordstrom Reports May 2003 Sales
SEATTLE, June 5 /PRNewswire-FirstCall/ -- Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $449.0 million for the four-week period ending May 31, 2003, an increase of 8.5 percent compared to sales of $414.0 million for the four-week period ending June 1, 2002. Same-store sales increased 3.4 percent.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001011/NORDLOGO )
For the month of May, same-store sales in full-line stores increased in all geographic regions. By merchandise division, same-store sales increased in the Designer and Bridge segments of Women's Apparel, as well as Cosmetics, Accessories, Men's Apparel, Shoes and Intimate Apparel.
Preliminary year-to-date (Feb. - May) sales of $1,774.4 million increased 4.7 percent compared to year-to-date 2002 sales of $1,694.4 million. Year-to-date same-store sales decreased 0.2 percent.
GAAP sales performance
The additional information we are providing in this section is to comply with the Securities and Exchange Commission's newly issued Regulation G. The company converted to a 4-5-4 Retail Calendar at the beginning of 2003. During 2002, the Company had reported monthly sales based on a 4-5-4 Retail Calendar. The Company believes that the 4-5-4 Retail Calendar provides a more comparable basis (4-5-4 vs. 4-5-4) from which to evaluate sales performance. Sales performance numbers included in this press release have been calculated on a comparative 4-5-4 basis.
Dollar %Change %Change
May May Increase/ Total Comp
Sales Reconciliation ($M) 2003 2002 (Decrease) Sales Sales
Number of Days GAAP 28 31
GAAP Sales $449.0 $460.2 ($11.2) (2.4%) (6.7%)
Less May 1-4, 2002 sales ($65.2)
Plus June 1, 2002 sales $19.0
Reported 4-5-4 sales $449.0 $414.0 $35.0 8.5% 3.4%
4-5-4 Adjusted Days 28 28
%Change %Change
Dollar Total Comp
Sales Reconciliation ($M) YTD 2003 YTD 2002 Increase Sales Sales
Number of Days GAAP 120 120
GAAP Sales $1,792.6 $1,706.0 $86.6 5.1% (0.9%)
Less Feb. 1, 2003 ($18.2)
Less Feb. 1-2, 2002 sales ($30.6)
Plus June 1, 2002 sales $19.0
Reported 4-5-4 sales $1,774.4 $1,694.4 $80.0 4.7% (0.2%)
4-5-4 Adjusted Days 119 119
Future Reporting Dates
Nordstrom's financial release calendar for the next several months is provided in the table below. Please note that beginning this month, monthly sales will be reported before the market opens on Retail Sales Day (Thursday) instead of after the market closes on Wednesday.
June Sales Release Thurs., July 10, 2003
July Sales Release Thurs., August 7, 2003
Second Quarter Earnings Thurs., August 21, 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 31 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.
SALES SUMMARY May May YTD YTD
(unaudited; $ in millions) 2003 2002 2003 2002
Total sales $449.0 $414.0 $1,774.4 $1,694.4
Total sales percentage
change 8.5% 5.8% 4.7% 2.9%
Same-store sales
percentage change
Full-line stores 3.6% 0.5% (0.1%) (1.8%)
Rack and other stores 2.7% 5.3% (0.9%) 2.8%
All stores 3.4% 1.1% (0.2%) (1.3%)
Number of stores (as of
May 31, 2003)
Full-line 89 83
Rack and other 54 53
International Faconnable
boutiques 31 23
Total 174 159
Gross square footage
(as of May 31, 2003) 18,628,000 17,517,000
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.
Contact: investors, Stephanie Allen, +1-206-303-3262, or media, Shasha Richardson, +1-206-373-3038, both of Nordstrom, Inc.
SOURCE Nordstrom, Inc.
-0- 06/05/2003
/CONTACT: investors, Stephanie Allen, +1-206-303-3262, or media, Shasha
Richardson, +1-206-373-3038, both of Nordstrom, Inc./
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20001011/NORDLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 1-888-776-6555 or +1-212-782-2840/
/Web site: http://www.nordstrom.com /
(JWN)
CO: Nordstrom, Inc.
ST: Washington
IN: REA HOU
SU: SLS
GK-GF
-- SFTH011 --
7333 06/05/2003 09:00 EDT http://www.prnewswire.com