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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
THE SECURITIES EXCHANGE ACT OF 1934
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DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) MARCH 31, 2003
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NORDSTROM, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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WASHINGTON 0-6074 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)
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REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (206) 628-2111
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INAPPLICABLE
(FORMER NAME OR FORMER ADDRESS IF CHANGED SINCE LAST REPORT)
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ITEM 9. REGULATION FD DISCLOSURE AND ITEM 12. RESULTS OF OPERATIONS AND
FINANCIAL CONDITION
On March 31, 2003, Nordstrom, Inc. issued a press release announcing first
quarter earnings are expected to be lower than the previously guided range. A
copy of this press release is as follows.
NORDSTROM EXPECTS LOWER FIRST QUARTER EARNINGS
SEATTLE - March 31, 2003 - Nordstrom, Inc. (NYSE: JWN) announced today
that based on quarter-to-date sales, first quarter 2003 earnings per share are
expected to be below the previously guided range of $0.23 to $0.27 per share,
which compares to $0.22 per share for the same period in the prior year. The
earnings shortfall is the result of below-plan sales, which are trending down
in the low single digits quarter-to-date.
"The company's fundamentals remain solid and we are continuing to focus
on opportunities within our control," said President Blake Nordstrom. "Our
team is taking appropriate action to respond to current conditions, however,
sales are a key performance driver and based on current trends we felt it was
prudent to adjust expectations."
The company believes that general consumer demand has softened since
January and military conflict with Iraq has further impacted results. Until
there is better visibility regarding consumer trends, the company believes it
is premature to update guidance.
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/ Michael G. Koppel
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Michael G. Koppel
Executive Vice President and
Chief Financial Officer
Dated: March 31, 2003