- --------------------------------------------------------------------------- ------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ---------------------------------------------------------- FORM 8-K ----------------------------------------------------------- CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE THE SECURITIES EXCHANGE ACT OF 1934 ------------------------------------------------------------ DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) April 8, 2004 ------------------------------------------------------------ NORDSTROM, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) ------------------------------------------------------------ WASHINGTON 001-15059 91-0515058 (STATE OR OTHER JURISDICTION (COMMISSION FILE (I.R.S. EMPLOYER OF INCORPORATION) NUMBER) IDENTIFICATION NO.) 1617 SIXTH AVENUE, SEATTLE, WASHINGTON 98101 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) ----------------------------------------------------------- REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (206) 628-2111 ------------------------------------------------------------ INAPPLICABLE (FORMER NAME OR FORMER ADDRESS IF CHANGED SINCE LAST REPORT) ---------------------------------------------------------------------- ------------------------------------------------- ITEM 7. FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS (C) EXHIBITS 99.1 Nordstrom March 2004 Preliminary Sales Release, dated April 8, 2004. ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION On April 8, 2004, Nordstrom, Inc. issued a press release announcing its preliminary March 2004 sales and an update to first quarter earnings per share guidance. A copy of this press release is attached as Exhibit 99.1. 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/ Peter F. Collins ----------------------- Peter F. Collins Divisional Vice President and Corporate Controller Dated: April 8, 2004 EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION 99.1 Nordstrom March 2004 Preliminary Sales Release, dated April 8, 2004.
Exhibit 99.1 For Immediate Release - --------------------- April 8, 2004 NORDSTROM MARCH SAME-STORE SALES INCREASE 15.9 PERCENT ------------------------------------------------------ SEATTLE - April 8, 2004 - Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $620.8 million for the five-week period ending April 3, 2004, an increase of 19.8 percent compared to sales of $518.2 million for the five-week period ending April 5, 2003. Same-store sales increased 15.9 percent. March same-store sales in full-line stores increased in all geographic regions and all merchandise categories. Preliminary quarter-to-date sales of $1.1 billion increased 18.8 percent compared to sales of $0.9 billion in 2003. Quarter-to-date same-store sales increased 14.9 percent. FIRST QUARTER GUIDANCE Based on quarter-to-date sales and gross profit performance, the Company is now expecting first quarter earnings per share to exceed prior guidance of $0.23 to $0.28. As a percent to sales, quarter to date gross profit is trending over 200 basis points higher than the prior year. SALES RECORDING To hear Nordstrom's prerecorded March sales message, please dial (402) 220-6036. This recording will be available for one week. GAAP SALES PERFORMANCE The additional information provided in this section is to comply with the Securities and Exchange Commission's Regulation G. The Company converted to a 4-5-4 Retail Calendar at the beginning of 2003. The first quarter of 2003 includes one more day than the first quarter of 2004. The Company believes that adjusting for this difference provides a more comparable basis from which to evaluate sales performance. The following reconciliation bridges the quarter-to-date 2003 GAAP sales to the 4-5-4 comparable sales. FUTURE REPORTING DATES Nordstrom's financial release calendar for the next several months is provided in the table below. April Sales Release Thurs., May 6, 2004 First Quarter Earnings Thurs., May 20, 2004 Annual Meeting Tues., May 25, 2004 May Sales Release Thurs., June 3, 2004 Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 149 US stores located in 27 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 93 full-line stores, 49 Nordstrom Racks, five Faconnable boutiques, one free-standing shoe store, and one clearance store.
Dollar % Change % Change Sales Reconciliation ($M) QTD 2003 QTD 2004 Increase Total Sales Comp Sales -------- -------- ---------- ----------- ---------- Number of Days GAAP 64 63 GAAP Sales $903.8 $1,052.1 $148.3 16.4% 12.5% Less Feb. 1, 2003 sales ($18.2) -- -------- -------- Reported 4-5-4 sales $885.6 $1,052.1 $166.5 18.8% 14.9% ========= ========= 4-5-4 Adjusted Days 63 63 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. Investor Contact: Stephanie Allen, 206-303-3262 Media Contact: Shasha Richardson, 206-373-3038 Certain statements in this news release might 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. ###
SALES SUMMARY Mar. Mar. QTD QTD (unaudited; $ in millions) 2004 2003 2004 2003 ------ ------ ------ ------ Total sales $620.8 $518.2 $1,052.1 $885.6 Total sales percentage change 19.8% 2.9% 18.8% 2.7% Same-store sales percentage change 15.9% (1.7%) 14.9% (1.9%) Number of stores (as of April 3, 2004) Full-line 93 89 Rack and other 56 54 International Faconnable boutiques 31 24 --- --- Total 180 167 Gross square footage 19,289,000 18,613,000