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Press release from Business Wire

Nordstrom Reports July and Second Quarter Sales

Thursday, August 02, 2012

Nordstrom Reports July and Second Quarter Sales08:28 EDT Thursday, August 02, 2012 SEATTLE (Business Wire) -- Nordstrom, Inc. (NYSE:JWN) today reported July and second quarter sales, which reflected the shift in timing of the Anniversary Sale event, historically the Company's largest sale event of the year. This event started one week later in July compared with last year. As a result, an additional week of the event shifted into August, which is part of the Company's fiscal third quarter. Due to the event shift and as previously reported in the first quarter earnings release, the Company expected second quarter same-store sales to increase in the low-single-digit range. The Company reported a 0.9 percent increase in same-store sales for the four-week period ended July 28, 2012 compared with the four-week period ended July 30, 2011. Preliminary total retail sales of $1.00 billion for July 2012 increased 1.1 percent compared with total retail sales of $993 million for the same period in fiscal 2011. Second quarter same-store sales increased 4.5 percent compared with the same period in fiscal 2011. Preliminary second quarter total retail sales of $2.92 billion increased 7.4 percent compared with total retail sales of $2.72 billion for the same period in fiscal 2011. Year-to-date same-store sales increased 6.3 percent compared with the same period in fiscal 2011. Preliminary year-to-date total retail sales of $5.45 billion increased 10.3 percent compared with total retail sales of $4.95 billion for the same period in fiscal 2011. SALES RECORDING To hear Nordstrom's pre-recorded July sales message, please dial (402) 220-6036 beginning today at 8:40 a.m. EDT. This recording will be available for one week. JULY SALES RESULTS(unaudited; $ in millions) Total sales and same-store sales include accounting adjustments that are not allocated to Nordstrom or Nordstrom Rack. Additionally, the shift in the timing of the Anniversary Sale relative to last year heightened the impact of these accounting adjustments to both total and same-store sales.             Total Retail Sales           Same-store Sales Fiscal       Fiscal       Percent             Nordstrom2012       2011       IncreaseTotal       Nordstrom       Rack July $1,004 $993 1.1% 0.9% 1.3% 9.7%   Second Quarter $2,918 $2,716 7.4% 4.5% 4.9% 7.7%   Year-to-date $5,453 $4,945 10.3% 6.3% 6.8% 7.3%   Number of stores Jul-12       Jul-11 Nordstrom 117 116 Nordstrom Rack and other 11498 Total 231214   Gross square footage 24,974,000 24,298,000   SAME-STORE SALES Same-store sales include sales from stores that have been open at least one full year as of the beginning of the fiscal year. Nordstrom includes sales from both full-line stores and Direct because of the integration of these two channels. Same-store sales exclude sales made through HauteLook, Nordstrom's online private sale subsidiary, which was acquired in the first quarter of 2011. FUTURE REPORTING DATES Nordstrom's planned financial release calendar for the next three months currently includes: Second Quarter Earnings Release             Thurs., August 9, 2012 August Sales Release Thurs., August 30, 2012 September Sales Release Thurs., October 4, 2012 October Sales Release Thurs., November 1, 2012   ABOUT NORDSTROM Nordstrom, Inc. is one of the nation's leading fashion specialty retailers. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 231 stores in 31 states, including 117 full-line stores, 110 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store. Nordstrom also serves customers through Nordstrom.com and through its catalogs. Additionally, the Company operates in the online private sale marketplace through its subsidiary HauteLook. 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, 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 economic and market conditions and the resultant impact on consumer spending patterns; our ability to respond to the business environment, fashion trends and consumer preferences, including changing expectations of service and experience in stores and online; effective inventory management; successful execution of our growth strategy, including possible expansion into new markets, technological investments and acquisitions, our ability to realize the anticipated benefits from such acquisitions, and 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 ability to manage the change in our business/financial model as we increase our investment in e-commerce and our online business; our ability to maintain relationships with our employees and to effectively attract, develop and retain our future leaders; successful execution of our multi-channel strategy; our compliance with applicable banking and related laws and regulations impacting our ability to extend credit to our customers; impact of the current regulatory environment and financial system and health care reforms; the impact of any systems failures, cybersecurity and/or security breaches, including any security breaches that result in the theft, transfer or unauthorized disclosure of customer, employee or company information or our compliance with information security and privacy laws and regulations in the event of such an incident; our compliance with employment laws and regulations and other laws and regulations applicable to us, including the outcome of claims and litigation and resolution of tax matters; compliance with debt covenants and availability and cost of credit; our ability to safeguard our brand and reputation; successful execution of our information technology strategy; our ability to maintain our relationships with vendors; trends in personal bankruptcies and bad debt write-offs; changes in interest rates; efficient and proper allocation of our capital resources; weather conditions, natural disasters, health hazards or other market disruptions, or the prospects of these events and the impact on consumer spending patterns; disruptions in our supply chain; the geographic locations of our stores; the effectiveness of planned advertising, marketing and promotional campaigns; our ability to control costs; and the timing and amounts of share repurchases by the company, if any, or any share issuances by the company, including issuances associated with option exercises or other matters. Our SEC reports, including our Form 10-K for the fiscal year ended January 28, 2012, and our Form 10-Q for the fiscal quarter ended April 28, 2012, 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. Nordstrom, Inc.INVESTOR CONTACT:Trina Schurman, 206-233-6503orMEDIA CONTACT:Colin Johnson, 206-303-3036