Nordstrom Rack announces the retirement of its president Karen McKibbin; Geevy Thomas to succeed

Geevy Thomas named successor

SEATTLE, 2018-Jan-10 — /EPR Retail News/ — After three decades marked by expansion and success, Karen McKibbin, president of Nordstrom Rack, will be retiring from Nordstrom in March. Karen joined Nordstrom in 1985 and has held many leadership roles within the company, including president of Nordstrom Canada, where she led the first-ever international expansion of Nordstrom’s full line stores.

“We are indebted to Karen for the many contributions she’s made over her more than 30-year career with Nordstrom,” said Blake Nordstrom, co-president of Nordstrom, Inc. “During her long tenure, Karen brought great depth of experience to her various roles including president of Canada, president of Nordstrom Rack, and a member of the Executive Team. Her leadership will be missed across the company and we wish her all the best in her next endeavor.”

“I feel fortunate to be part of this company and to have built a career from which I garnered so much personal and professional fulfillment. I have a great passion for the team and the business,” said Karen McKibbin. “Nordstrom has a strong legacy that I’ve been honored to be part of. It is an incredible brand that will continue to evolve— fueled by the best talent in the business.”

Geevy Thomas, chief innovation officer, will succeed Karen. Geevy, who joined Nordstrom in 1983, has held numerous senior leadership positions throughout the organization and served as president of Nordstrom Rack from 2010 to January 2017.

“Over the last year, Geevy and the Innovation team have established an approach to leveraging our local assets of people, product, and place – and evolve our physical stores. With this foundation in place, we will begin integrating the team, learnings and processes across various aspects of our business,” said Blake Nordstrom.  “We’re fortunate to be able to leverage Geevy’s knowledge of our Nordstrom Rackbusiness, which continues to be one of our most productive channels, a driver of innovation and our biggest source of new customers to Nordstrom. Geevy will continue to support innovation as we make that transition.”

About Nordstrom
Nordstrom, Inc. is a leading fashion retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 366 stores in 40 states, including 122 full-line stores in the United States, Canada and Puerto Rico; 232 Nordstrom Rack stores; two Jeffrey boutiques; two clearance stores; seven Trunk Club clubhouses; and its Nordstrom Local service concept. Additionally, customers are served online through Nordstrom.comNordstromrack.com, HauteLook and TrunkClub.com. Nordstrom, Inc.’scommon stock is publicly traded on the NYSE under the symbol JWN.

MEDIA CONTACTS: 
Gigi Ganatra Duff
Nordstrom, Inc.
877-746-6228
nordstrompr@nordstrom.com

SOURCE: Nordstrom, Inc.

New Chief Financial Officer for Nordstrom Announced

SEATTLE, 2017-May-08 — /EPR Retail News/ — Seattle-based Nordstrom, Inc. announced today (May 4, 2017) that Anne Bramman is joining the company as Chief Financial Officer (CFO), effective June 2, 2017.

“After a thorough search for a CFO, we’re excited to have Anne join our team,” said Blake Nordstrom, co-president of Nordstrom, Inc. “Anne’s breadth of financial expertise and background as a strong business leader will serve us well as we continue to invest in our growth strategy.”

Ms. Bramman comes to Nordstrom from Avery Dennison Corporation where she has served as Senior Vice President and CFO since 2015. Ms. Bramman has an extensive financial leadership background in a variety of industries, including retail. She previously held the CFO position at Carnival Cruise Line and was CFO of Henri Bendel, a subsidiary of L Brands Inc.  In her new role, Ms. Bramman will focus on driving productivity and supporting Nordstrom’s continued growth.

“I’ve always admired Nordstrom and am excited to join the company during a time of transformative change in the industry,” said Ms. Bramman. “Nordstrom has been an industry leader in strategically investing for the future and I look forward to supporting their commitment to operating excellence.”

Mike Koppel retired as the company’s CFO May 1, 2017 after 16 years and will continue to support Nordstrom in a consulting and advisory role through the end of the year.

About Nordstrom

Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 353 stores in 40 states, including 122 full-line stores in the United States, Canada and Puerto Rico; 220 Nordstrom Rack stores; two Jeffrey boutiques; and two clearance stores. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com and HauteLook. The company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its seven clubhouses. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.

INVESTOR CONTACT: 
Trina Schurman Nordstrom, Inc.
(206) 303-6503
Trina.Schurman@nordstrom.com

MEDIA CONTACT: 
Gigi Ganatra Duff
Nordstrom, Inc.
(206) 303-3030
Gigi.Ganatra@nordstrom.com

SOURCE: Nordstrom, Inc.

Nordstrom, Inc. announces net sales for 3Q 2016 increased 7.2 percent vs same period last year

Continued Improvements in the Company’s Operating Model

SEATTLE, 2016-Nov-11 — /EPR Retail News/ — Nordstrom, Inc. (NYSE: JWN) today (Nov. 10, 2016) reported third quarter results on an operational basis that exceeded expectations, reflecting continued strength in inventory and expense execution. Total Company net sales for the third quarter increased 7.2 percent and comparable sales increased 2.4 percent, compared with the same period last year. This includes a favorable comparison resulting from one week of the Anniversary Sale, historically the Company’s largest event of the year, shifting into the third quarter. Combined second and third quarter comparable sales, which removes the impact of the event shift, increased 0.4 percent compared with the same period last year.

“We’ve made considerable changes in the way we operate to improve the customer experience while increasing our productivity,” said Blake Nordstrom, co-president, Nordstrom, Inc. “We are particularly proud of our team’s efforts to align inventories and improve our operating efficiencies. These outcomes have positively impacted our operating results.”

Third quarter results included a non-cash goodwill impairment of $197 million related to Trunk Club, which the Company acquired in 2014. While this business continues to deliver outsized top-line growth, current expectations for future growth and profitability are lower than initial estimates. To further improve the customer experience and better position Trunk Club’s business for profitable growth, the Company is making a number of operational changes.

The Company reported loss per diluted share for the third quarter ended October 29, 2016 of $0.06 and revised its fiscal year 2016 outlook to $1.70 to $1.80. Excluding the impairment charge, the Company reported third quarter adjusted earnings per diluted share of $0.84 and raised its fiscal year 2016 outlook for adjusted earnings per diluted share to $2.85 to $2.95 to incorporate third quarter results.

THIRD QUARTER SUMMARY

  • Third quarter net loss was $10 million and earnings before interest and taxes (EBIT) was $55 million, or 1.6 percent of net sales, compared with net earnings of $81 million and EBIT of $155 million, or 4.8 percent of net sales, during the same period in fiscal 2015.
    • Retail EBIT decreased $126 million compared with the same quarter last year due to the impairment charge of $197 million, partially offset by continued sales growth.
    • Credit EBIT increased $26 million, which primarily reflected transaction costs incurred in 2015 associated with the sale of the credit card portfolio.
  • Total Company net sales of $3.5 billion for the third quarter increased 7.2 percent compared with net sales of $3.2 billion during the same period in fiscal 2015. Total Company comparable sales for the third quarter increased 2.4 percent.
    • In the Nordstrom brand, including U.S. and Canada full-line stores and Nordstrom.com, net sales when combined with Trunk Club, increased 2.4 percent and comparable sales increased 0.9 percent.
    • Across U.S. full-line stores and Nordstrom.com, the top-performing merchandise categories were Women’s Apparel and Men’s Apparel. The younger customer-focused departments in Women’s Apparel continued to outperform, reflecting strength in denim and collaborations with new and emerging limited distribution brands. The West was the top-performing geographic region.
    • In the Nordstrom Rack brand, which consists of Nordstrom Rack stores and Nordstromrack.com/HauteLook, net sales increased 10.1 percent and comparable sales increased 3.9 percent. The East was the top-performing geographic region.
  • Retail gross profit, as a percentage of net sales, of 34.8 percent increased 93 basis points compared with the same period in fiscal 2015. This reflected strong inventory execution, which resulted in net sales growth outpacing inventory growth, in addition to leverage of buying and occupancy costs.
  • Selling, general and administrative expenses, as a percentage of net sales, of 29.6 percent decreased 218 basis points compared with the same period in fiscal 2015. This was primarily due to transaction costs incurred in 2015 associated with the sale of the credit card portfolio in addition to the shift in sales volume from the Anniversary Sale resulting in expense leverage. Expense performance exceeded the Company’s expectations by approximately 70 basis points, reflecting ongoing progress to improve operational efficiencies.
  • During the quarter ended October 29, 2016, the Company recognized approximately $10 million in tax benefits related to the resolution of certain federal income tax issues. The impact to the quarter is estimated to be $0.06 per share.
  • To build on the success of the Nordstrom Rewards loyalty program, the Company expanded its program in the second quarter to enable all customers to earn benefits regardless of how they choose to pay. Through this expanded program, the Company has more than 7 million active Rewards customers in the U.S. and Canada, up over 40 percent, from approximately 5 million a year ago. Sales from Nordstrom Rewards customers represented 45 percent of third quarter sales, compared with 39 percent a year ago.
  • During the nine months ended October 29, 2016, the Company repurchased 1.9 million shares of its common stock for $93 million. A total capacity of $718 million remains available under its existing share repurchase board authorization. The actual number, price, manner and timing of future share repurchases, if any, will be subject to market and economic conditions and applicable Securities and Exchange Commission (“SEC”) rules.
  • Return on invested capital (“ROIC”) for the 12 fiscal months ended October 29, 2016 was 7.2 percent compared with 11.4 percent in the prior 12-month period. This decrease was primarily due to a 340 basis point impact from the non-cash goodwill impairment of Trunk Club. A reconciliation of this non-GAAP financial measure to the closest GAAP measure is included below. Additionally, the impact of the impairment on ROIC is quantified.

CONFERENCE CALL INFORMATION

The Company’s senior management will host a conference call to discuss third quarter 2016 results and fiscal 2016 outlook at 4:45 p.m. Eastern Standard Time today. To listen to the live call online and view the speakers’ prepared remarks and the conference call slides, visit the Investor Relations section of the Company’s corporate website at http://investor.nordstrom.com. An archived webcast with the speakers’ prepared remarks and the conference call slides will be available in the Quarterly Earnings section for one year. Interested parties may also dial 201-689-8354. A telephone replay will be available beginning approximately three hours after the conclusion of the call by dialing 877-660-6853 or 201-612-7415 and entering Conference ID 13648454, until the close of business on November 17, 2016.

ABOUT NORDSTROM

Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 348 stores in 40 states, including 123 full-line stores in the United States, Canada and Puerto Rico; 215 Nordstrom Rack stores; two Jeffrey boutiques; and two clearance stores. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com and HauteLook. The Company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its six clubhouses. Nordstrom, Inc.’s common stock is publicly traded on the NYSEunder 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, anticipated financial outlook for the fiscal year ending January 28, 2017, anticipated annual total and comparable sales rates, anticipated new store openings in existing, new and international markets, anticipated Return on Invested Capital and trends in our 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: successful execution of our customer strategy, including expansion into new domestic and international markets, acquisitions, investments in our stores and online as well as investments in technology, our ability to realize the anticipated benefits from growth initiatives and our ability to provide a seamless experience across all channels; timely and effective execution of our ecommerce initiatives and ability to manage the costs and organizational changes associated with this evolving business model; 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 maintain relationships with our employees and to effectively attract, develop and retain our future leaders; effective inventory management processes and systems, fulfillment processes and systems, disruptions in our supply chain and our ability to control costs; the impact of any systems failures, cybersecurity and/or security breaches, including any security breach of our systems or those of a third-party provider that results in the theft, transfer or unauthorized disclosure of customer, employee or Company information or compliance with information security and privacy laws and regulations in the event of such an incident; successful execution of our information technology strategy; our ability to effectively utilize data in strategic planning and decision making; efficient and proper allocation of our capital resources; our ability to realize the expected benefits, respond to potential risks and appropriately manage costs associated with our program agreement with TD; our ability to safeguard our reputation and maintain our vendor relationships; our ability to respond to the business environment, fashion trends and consumer preferences, including changing expectations of service and experience in stores and online, and evolve our business model; the effectiveness of planned advertising, marketing and promotional campaigns in the highly competitive retail industry; the timing, price, manner 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; the impact of economic and market conditions and the resultant impact on consumer spending patterns; weather conditions, natural disasters, health hazards, national security or other market disruptions, or the prospects of these events and the resulting impact on consumer spending patterns; our compliance with applicable domestic and international laws, regulations and ethical standards, including those related to banking, employment and tax and the outcome of claims and litigation and resolution of such matters; the impact of the current regulatory environment and financial system and health care reforms; and compliance with debt covenants, availability and cost of credit, changes in our credit rating, changes in interest rates, debt repayment patterns and personal bankruptcies. Our SEC reports, including our Form 10-K for the fiscal year ended January 30, 2016, and our Form 10-Q for the fiscal quarters ended April 30, 2016 and July 30, 2016, 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.

INVESTOR CONTACT:
Trina Schurman
206-303-6503

MEDIA CONTACT:
Tara Darrow
206-303-3016

Source: Nordstrom, Inc.

Nordstrom’s EVP and CFO Mike Koppel to retire in spring 2017

SEATTLE, 2016-Oct-27 — /EPR Retail News/ — Nordstrom announced today (Oct. 24, 2016) that Executive Vice President and Chief Financial Officer Mike Koppel has shared his plans to retire from the company in spring 2017. Koppel will remain in his role until then to support the search for a new CFO and assist with his successor’s transition. Koppel joined Nordstrom in 1999 and has been the company’s Chief Financial Officer since 2001.

“We are extremely grateful for all of the contributions Mike has made over his 17 years as a leader at Nordstrom,” said Blake Nordstrom, co-president of Nordstrom, Inc. “Mike has played an integral role in our company’s story, helping guide us through significant periods of expansion, growth and investment. He has provided our company with tremendous knowledge and strategic financial expertise that has always been grounded with an unwavering focus on taking care of the customer. He will be sorely missed and we wish him the absolute best in his well-deserved retirement.”

About Nordstrom
Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 346 stores in 40 states and Canada. Customers are served at 123 Nordstrom stores in the U.S. and Canada; 213 Nordstrom Rack stores; two Jeffrey boutiques; and two clearance stores. Additionally, customers are served online through Nordstrom.comNordstromrack.com and HauteLook. The company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its six clubhouses. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.

INVESTOR CONTACT:
Trina Schurman
Nordstrom, Inc.
(206) 303-6503

MEDIA CONTACT:
Tara Darrow
Nordstrom, Inc.
(206) 303-3016

SOURCE: Nordstrom, Inc.

Nordstrom, Inc. announces the appointment of Ken Worzel as president, Nordstrom.com

SEATTLE, 2016-Sep-22 — /EPR Retail News/ — To further accelerate its e-commerce, digital and mobile efforts, Nordstrom, Inc. (NYSE: JWN) announced that it has appointed Ken Worzel as president, Nordstrom.com.

Worzel has served as executive vice president of Strategy and Development at the company since 2010, where he has been responsible for strengthening the company’s competitive position and relevance through developing and executing customer-driven strategies to support the company’s growth. Prior to Nordstrom he worked as a consultant, including partnering with Nordstrom for 13 years while at Marakon Associates and McKinsey & Company.

“Through his six years as a leader at Nordstrom and many years prior to that working alongside our executive team, Ken has gained a deep understanding of how our e-commerce, digital and mobile efforts play an integral role in providing customers a differentiated experience through service, personalisation and convenience,” said Erik Nordstrom, co-president of Nordstrom. “Ken comes into this position with expertise around Nordstrom.com’s current position and a strong vision for its future potential that will continue to bring the company a tremendous amount of value as we evolve our strategy and build on our success.”

Additionally, to better serve the changing needs of its customers and how they shop, the company also announced a strategic shift of leadership responsibilities to better support the Nordstrom (full-price) and Nordstrom Rack (off-price) brands across both stores and digital. New assignments include:

  • Co-President Erik Nordstrom will now be responsible for the Nordstrom brand, including Nordstrom stores, Nordstrom.com, and Trunk Club as well as Customer Care, Marketing and Supply Chain.
  • Co-President Blake Nordstrom will be responsible for the Nordstrom Rack brand, including Rack stores and NordstromRack.com/HauteLook and other corporate functions including Finance, Technology, Legal and Human Resources.
  • Co-President Pete Nordstrom will continue to support all of the company’s merchandising functions and Store Planning. He will also remain closely involved in all areas impacting the Nordstrom brand, including marketing.

ABOUT NORDSTROM
Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 334 stores in 39 states and Canada. Customers are served at 121 Nordstrom stores in the U.S. and Canada; 205 Nordstrom Rack stores; two Jeffrey boutiques; and one clearance store. Additionally, customers are served online through Nordstrom.com, NordstromRack.com and HauteLook. The company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its five clubhouses. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.

INVESTOR CONTACT:
Trina Schurman
Nordstrom, Inc.
(206) 233-6550

MEDIA CONTACT:
Tara Darrow
Nordstrom, Inc.
(206) 303-3016

SOURCE: Nordstrom, Inc.

Nordstrom announces changes to its operating model

SEATTLE, Wash., 2016-Apr-22 — /EPR Retail News/ — Nordstrom, Inc. (NYSE: JWN) today shared with its employees that in order to continually evolve with the expectations of its customers, ensure it is best positioned to respond to the current business environment, and meet long-term growth plans, the company is making a number of changes to its operating model. The company is expecting that approximately 350 to 400 positions will be reduced through a phased approach. These positions will primarily be in its Corporate Center and regional support teams, and the process should be completed by the end of the second quarter. In an effort to minimize impacts on current employees, the company will first look at options such as closing unfilled open positions. Employees whose roles are eliminated will receive separation pay and benefits. These changes are estimated to generate savings of approximately $60 million in fiscal 2016.

Changes to the operating model are part of the company’s broader strategic plans to strengthen its foundation for future growth and improve productivity and service. The company has previously shared that it is continuing to make fundamental changes to serve customers better by leveraging its enterprise capabilities. Initiatives include a new operating model in its Technology group focused on strengthening its ability to deliver on e-commerce and digital initiatives, and proactively addressing opportunities to improve supply chain and marketing effectiveness.

“We will never change our commitment to serving customers, but recognize how they want to be served has been changing at an increasingly rapid pace,” said Blake Nordstrom, co-president, Nordstrom, Inc. “Meeting our customers’ expectations means we must continually evolve with them. We see opportunities to create a more efficient and agile organization that ensures we’re best positioned to achieve our goals.”

The financial impact of these strategic initiatives has been incorporated in the company’s financial outlook that was provided on February 18, 2016.

About Nordstrom, Inc.
Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 326 stores in 39 states, including 121 full-line stores in the United States, Canada and Puerto Rico; 197 Nordstrom Rack stores; two Jeffrey boutiques; and one clearance store. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com and HauteLook. The company also owns Trunk Club, a personalized clothing service serving customers online at TrunkClub.com and its five clubhouses. Nordstrom, Inc.’s common stock is publicly traded on the NYSE under the symbol JWN.

INVESTOR CONTACT: Trina Schurman
Nordstrom, Inc.
(206) 303-6503
MEDIA CONTACT: Tara Darrow
Nordstrom, Inc.
(206) 303-3016

SOURCE Nordstrom, Inc.

Nordstrom, Inc. closes its credit card transaction with TD Bank U.S.A., N.A.

  • $1.8 Billion Net Proceeds to be Returned to Shareholders through Dividend and Share Repurchase
  • Board Authorizes Special Cash Dividend of $4.85 per Share

SEATTLE, 2015-10-3 — /EPR Retail News/ — Nordstrom, Inc. (NYSE: JWN) today announced the closing of its credit card transaction with TD Bank U.S.A., N.A. (TD), including the sale of its credit card portfolio and the initiation of the long-term agreement under which TD is the exclusive U.S. issuer of Nordstrom-branded Visa and private label consumer credit cards. This transaction supports Nordstrom’s strategy to enhance the customer experience while allowing for improvement in capital efficiency.

As previously announced on May 26, 2015, Nordstrom will continue to perform all customer-facing account servicing functions, maintaining the customer-focused integration between its credit and retail operations. The Company will also continue to fund and manage the Nordstrom Rewards loyalty program, Nordstrom debit cards and Nordstrom employee accounts. This transaction is designed to have virtually no service impact on Nordstrom cardholders, customers and employees.

“We look forward to our collaboration with TD, a premier financial institution that shares our customer focus. Our mutual commitment to having Nordstrom employees serve our customers directly is paramount to this partnership,” said Blake Nordstrom, co-president, Nordstrom, Inc.”We are also pleased to be able to return capital directly to our shareholders using our balanced approach to capital allocation.”

USE OF PROCEEDS

The Company sold its credit card portfolio to TD for $2.2 billion, representing the gross value of the outstanding receivables. In conjunction with the transaction, the Company prepaid $325 million of secured debt due October 2016 to provide the receivables free and clear.

The Company intends to deploy net proceeds of $1.8 billion, after $325 million in debt reduction and transaction costs between $35 million and $45 million, directly to shareholders through dividend and share repurchase. In connection with the closing, its board of directors authorized a special cash dividend and an additional $1 billion share repurchase program:

  • The special cash dividend of $4.85 per share of outstanding common stock will be payable on October 27, 2015, to shareholders of record at the close of business onOctober 12, 2015. The Company expects the aggregate payment to be approximately$900 million.
  • The authorized share repurchase program is up to $1 billion of the Company’s outstanding common stock, through March 1, 2017. The actual number, price, manner and timing of future share repurchases, if any, will be subject to market and economic conditions and applicable Securities and Exchange Commission rules. This program is in addition to the Company’s existing repurchase program that was approved by its board in September 2014. The existing repurchase program has $591 million outstanding as of September 30, 2015, and will expire on March 1, 2016.
  • In connection with the special cash dividend and as required by the Company’s equity incentive plans approved by the shareholders, anti-dilutive adjustments will be made to the Company’s outstanding equity awards on the dividend record date to preserve their value following the special cash dividend.

Nordstrom will provide additional details on the overall financial impact of the transaction, including an update to its fiscal 2015 outlook, in its upcoming earnings release on November 12, 2015.

ABOUT NORDSTROM
Nordstrom, Inc. is a leading fashion specialty retailer based in the U.S. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 315 stores in 39 states and Canada. Customers are served at 119 Nordstrom stores in the U.S. and Canada; 188 Nordstrom Rack stores; two Jeffrey boutiques; and one clearance store. Additionally, customers are served online through Nordstrom.com, Nordstromrack.com and HauteLook. The company also ownsTrunk Club, a personalized clothing service serving customers online at TrunkClub.com and its five clubhouses. 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, anticipated financial outlook for the fiscal year ending January 30, 2016, anticipated annual total and comparable sales rates, anticipated new store openings in existing, new and international markets, anticipated Return on Invested Capital and trends in our 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: successful execution of our customer strategy, including expansion into new domestic and international markets, acquisitions, investments in our stores and online, our ability to realize the anticipated benefits from growth initiatives and our ability to provide a seamless experience across all channels; 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 investment opportunities in our online business and our ability to manage related organizational changes; our ability to maintain relationships with our employees and to effectively attract, develop and retain our future leaders; effective inventory management, disruptions in our supply chain and our ability to control costs; the impact of any systems failures, cybersecurity and/or security breaches, including any security breach of our systems or those of a third-party provider that results in the theft, transfer or unauthorized disclosure of customer, employee or company information or compliance with information security and privacy laws and regulations in the event of such an incident; successful execution of our information technology strategy; our ability to effectively utilize data in strategic planning and decision making; efficient and proper allocation of our capital resources; our ability to realize the expected benefits of the long-term program agreement with TD Bank U.S.A., N.A.; our ability to safeguard our reputation and maintain our vendor relationships; 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; the effectiveness of planned advertising, marketing and promotional campaigns in the highly competitive retail industry; weather conditions, natural disasters, health hazards, national security or other market disruptions, or the prospects of these events and the resulting impact on consumer spending patterns; our compliance with applicable banking-related laws and regulations impacting our ability to extend credit to our customers, employment laws and regulations, certain international laws and regulations, other laws and regulations applicable to us, including the outcome of claims and litigation and resolution of tax matters, and ethical standards; impact of the current regulatory environment and financial system and health care reforms; compliance with debt covenants, availability and cost of credit, changes in interest rates, debt repayment patterns, personal bankruptcies and bad debt write-offs; and the timing, price, manner 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 31, 2015, and our Form 10-Q for the fiscal quarters ended May 2, 2015 and August 1, 2015, 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.

INVESTOR CONTACT: Trina Schurman
Nordstrom, Inc.
206-303-6503
MEDIA CONTACT: Dan Evans
Nordstrom, Inc.
206-303-3036

SOURCE Nordstrom, Inc.