| NORDSTROM REPORTS JANUARY 2002 SALES
SEATTLE, Wash. - February 6, 2002 - Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $324.6 million for the month of January 2002, an increase of 0.1 percent compared to sales of $324.4 million for the month of January 2001. Same-store sales declined 2.7 percent.
Preliminary fourth quarter sales of $1.6 billion decreased 1.4 percent compared to 2001 quarter-to-date sales of $1.7 billion. Quarter-to-date same-store sales declined 3.4 percent.
Preliminary year-to-date sales of $5.6 billion increased 1.9 percent compared to 2001 year-to-date sales of $5.5 billion. Year-to-date same-store sales declined 2.9 percent.
CALENDAR-ADJUSTED RESULTS After adjusting for the impact of differences in the specific days of the week that comprised January 2002 compared to January 2001, including the removal of January 1, 2002 sales, total sales for January 2002 decreased approximately 2.4 percent, and same-store sales declined approximately 5.5 percent. Adjusted same-store sales in full-line stores decreased in all geographic regions, and decreased in all merchandise categories except Cosmetics.
FUTURE REPORTING DATES Nordstrom's financial release calendar for the remainder of fiscal 2002 and the first quarter of fiscal 2002 is provided in the table below. Please note that beginning in fiscal 2002 (February), monthly sales will be presented and reported, after market close, according to the 4-5-4 retail calendar. Quarterly earnings will continue to be reported on a calendar basis.
|
Fourth Quarter Earnings |
Thurs., February 21, 2002 |
February Sales Release |
Thurs., March 7, 2002 |
March Sales Release |
Thurs., April 11, 2002 |
April Sales Release |
Thurs., May 9, 2002 |
First Quarter Earnings |
Wed., May 15, 2002 |
Celebrating 100 years of service, Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 131 US stores located in 25 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 80 full-line stores, 44 Nordstrom Racks, four Façonnable boutiques, two free-standing shoe stores, and one clearance store. Nordstrom also operates 24 international Façonnable 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 |
| (unaudited; $ in millions) |
Jan.* 2002 |
Jan. 2001 |
YTD 2002 (365 days) |
YTD 2001 (366 days) |
|
Total sales** |
$324.6 |
$324.4 |
$5,635.7 |
$5,528.5 |
Total sales percentage change |
0.1% |
8.9% |
1.9% |
7.4% |
|
Same-store sales percentage change |
Full-line stores |
(2.5%) |
(1.4%) |
(2.6%) |
0.2% |
Rack and other stores |
(4.0%) |
(6.1%) |
(5.9%) |
1.1% |
All stores |
(2.7%) |
(2.0%) |
(2.9%) |
0.3% |
|
Number of stores (as of January 31) |
Full-line |
80 |
77 |
|
|
Rack and other |
51 |
43 |
|
|
International Façonnable boutiques |
24 |
20 |
|
|
Total |
155 |
140 |
|
|
|
Gross square footage (As of January 31) |
17,011,000 |
16,056,000 |
|
|
|
*January 2002 included one more Thursday and one less Tuesday compared to January 2001. In addition, stores were open on January 1st in 2002 but were closed on January 1st in 2001.
**In accordance with Emerging Issues Task Force Issue No. 0010, effective Nov. 1, 2001, the company is reclassifying shipping income as sales. Comparison data in 2001 also have been reclassified. Previously these amounts were classified within Selling, General & Administrative expenses. These amounts have not materially impacted reported sales.
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 store openings and distribution channels, planned capital expenditures, and trends in company operations. Actual future results and trends may differ materially depending upon a variety of factors including, but not limited to, the company's ability to source and manage appropriate inventory, predict fashion trends and consumer apparel buying patterns, and control costs and expenses; weather conditions; hazards of nature such as earthquakes and floods; trends in personal bankruptcies and bad debt write-offs; employee relations; the company's ability to continue its expansion plans; and the impact of economic and competitive market forces, including the effects of recent terrorist activity on the company, its customers and the industry. The company's SEC reports may contain other information on these and other factors, which could affect our financial results and cause actual results to differ from any forward-looking information we may provide
Media Contact: Shasha Richardson Nordstrom, Inc. (206) 373-3038 |
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Investor Contact: Stephanie Allen Nordstrom, Inc. (206) 303-3262 |
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