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Nordstrom Reports August Sales

SEATTLE--()--Nordstrom, Inc. (NYSE:JWN) today reported a 6.3 percent increase in same-store sales for the four-week period ended August 28, 2010 compared with the four-week period ended August 29, 2009. Preliminary total retail sales of $615 million for August 2010 increased 13.6 percent compared with total retail sales of $541 million for the same period in fiscal 2009.

Year-to-date same-store sales increased 9.5 percent compared with the same period in fiscal 2009. Preliminary year-to-date total retail sales of $5.02 billion increased 14.3 percent compared with total retail sales of $4.39 billion for the same period in fiscal 2009.

SALES RECORDING

To hear Nordstrom’s pre-recorded August sales message, please dial (402) 220-6036. This recording will be available for one week.

AUGUST SALES RESULTS

(unaudited; $ in millions)

 

Total Retail Sales

 

Same-store Sales

Fiscal

2010

 

Fiscal

2009

  %

Increase

Total   Full-line

Stores

  Direct  

Multi-channel
(Full-line
Stores and
Direct)

  Rack Stores
August

$615

 

$541

  13.6% 6.3%   7.8%   3.7%   7.5%   (4.2%)
   
Year-to-date

$5,022

$4,392

14.3% 9.5% 9.5% 32.6% 11.1% (0.1%)
 
Number of stores

8/28/10

 

8/29/09

Full-line

115

111

Rack and other

81

65

Total

196

176
 

Gross square
footage

23,547,000

22,387,000

EXPANSION UPDATES

In August, Nordstrom opened one full-line store at Santa Monica Place in Santa Monica, California. Nordstrom also opened two Rack stores at Pentagon Centre in Arlington, Virginia and Fair Lakes Promenade in Fairfax, Virginia.

Today, Nordstrom opens a Rack store at Renaissance Center in Durham, North Carolina.

FUTURE REPORTING DATES

Nordstrom’s planned financial release calendar for the next three months currently includes:

            September Sales Release         Thurs., October 7, 2010
October Sales Release Thurs., November 4, 2010
Third Quarter Earnings Release Mon., November 15, 2010
November Sales Release Thurs., December 2, 2010

ABOUT NORDSTROM

Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 196 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 115 full-line stores, 78 Nordstrom Racks, two Jeffrey boutiques and one clearance store. Nordstrom also serves customers through its online presence at www.nordstrom.com and through its catalogs. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.

Certain statements in this news release contain or may suggest “forward-looking” information (as defined in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including, but not limited to, the company’s planned store openings and trends in company operations. Such statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. Actual future results may differ materially from historical results or current expectations depending upon factors including but not limited to: the impact of deteriorating economic and market conditions and the resultant impact on consumer spending patterns, our ability to respond to the business environment and fashion trends, our ability to safeguard our brand and reputation, effective inventory management, efficient and proper allocation of our capital resources, successful execution of our store growth strategy including the timely completion of construction associated with newly planned stores, relocations and remodels, all of which may be impacted by the financial health of third parties, our compliance with applicable banking and related laws and regulations impacting our ability to extend credit to our customers, trends in personal bankruptcies and bad debt write-offs, availability and cost of credit, impact of the current regulatory environment and financial system reforms, changes in interest rates, disruptions in our supply chain, our ability to maintain our relationships with vendors and developers who may be experiencing economic difficulties, the geographic locations of our stores, our ability to maintain relationships with our employees and to effectively train and develop our future leaders, our compliance with information security and privacy laws and regulations, employment laws and regulations and other laws and regulations applicable to us, successful execution of our information technology strategy, successful execution of our multi-channel strategy, risks related to fluctuations in world currencies, public health concerns and the resulting impact on consumer spending patterns, supply chain, and employee health, weather conditions and hazards of nature that affect consumer traffic and consumers’ purchasing patterns, the effectiveness of planned advertising, marketing and promotional campaigns, our ability to control costs, and the timing and amounts of any share repurchases by the company. Our SEC reports, including our Form 10-K for the fiscal year ended January 30, 2010, and our Form 10-Q for the fiscal quarter ended May 1, 2010, 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. The company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.

Contacts

Nordstrom, Inc.
INVESTOR CONTACT:
Sandy Fabre, 206-233-6563
or
MEDIA CONTACT:
Colin Johnson, 206-373-3036

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