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Washington
|
|
91-0515058
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
1617 Sixth Avenue, Seattle, Washington
|
|
98101
|
(Address of principal executive offices)
|
|
(Zip Code)
|
|
Large accelerated filer
þ
|
|
Accelerated filer
o
|
|
Non-accelerated filer
o
(Do not check if a smaller reporting company)
|
|
Smaller reporting company
o
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|
Page
|
|
||
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Item 1.
|
|
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||
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||
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|
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||
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||
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||
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||
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Item 2.
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||
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Item 3.
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||
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Item 4.
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||
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Item 1.
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||
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Item 1A.
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||
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Item 2.
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||
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Item 6.
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||
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|
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Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Net sales
|
$
|
3,296
|
|
|
$
|
3,104
|
|
|
$
|
6,133
|
|
|
$
|
5,761
|
|
Credit card revenues
|
96
|
|
|
92
|
|
|
190
|
|
|
184
|
|
||||
Total revenues
|
3,392
|
|
|
3,196
|
|
|
6,323
|
|
|
5,945
|
|
||||
Cost of sales and related buying and occupancy costs
|
(2,130
|
)
|
|
(2,004
|
)
|
|
(3,951
|
)
|
|
(3,677
|
)
|
||||
Selling, general and administrative expenses
|
(931
|
)
|
|
(857
|
)
|
|
(1,776
|
)
|
|
(1,658
|
)
|
||||
Earnings before interest and income taxes
|
331
|
|
|
335
|
|
|
596
|
|
|
610
|
|
||||
Interest expense, net
|
(35
|
)
|
|
(37
|
)
|
|
(70
|
)
|
|
(76
|
)
|
||||
Earnings before income taxes
|
296
|
|
|
298
|
|
|
526
|
|
|
534
|
|
||||
Income tax expense
|
(113
|
)
|
|
(114
|
)
|
|
(203
|
)
|
|
(205
|
)
|
||||
Net earnings
|
$
|
183
|
|
|
$
|
184
|
|
|
$
|
323
|
|
|
$
|
329
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
0.97
|
|
|
$
|
0.94
|
|
|
$
|
1.70
|
|
|
$
|
1.68
|
|
Diluted
|
$
|
0.95
|
|
|
$
|
0.93
|
|
|
$
|
1.68
|
|
|
$
|
1.66
|
|
|
|
|
|
|
|
|
|
||||||||
Weighted-average shares outstanding:
|
|
|
|
|
|
|
|
||||||||
Basic
|
189.6
|
|
|
195.5
|
|
|
189.7
|
|
|
195.5
|
|
||||
Diluted
|
192.7
|
|
|
198.8
|
|
|
192.7
|
|
|
198.9
|
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Net earnings
|
$
|
183
|
|
|
$
|
184
|
|
|
$
|
323
|
|
|
$
|
329
|
|
Postretirement plan adjustments, net of tax
|
1
|
|
|
1
|
|
|
2
|
|
|
3
|
|
||||
Foreign currency translation adjustment
|
—
|
|
|
—
|
|
|
1
|
|
|
—
|
|
||||
Comprehensive net earnings
|
$
|
184
|
|
|
$
|
185
|
|
|
$
|
326
|
|
|
$
|
332
|
|
|
August 2, 2014
|
|
February 1, 2014
|
|
August 3, 2013
|
||||||
Assets
|
|
|
|
|
|
||||||
Current assets:
|
|
|
|
|
|
||||||
Cash and cash equivalents
|
$
|
772
|
|
|
$
|
1,194
|
|
|
$
|
1,128
|
|
Accounts receivable, net
|
2,454
|
|
|
2,177
|
|
|
2,369
|
|
|||
Merchandise inventories
|
1,805
|
|
|
1,531
|
|
|
1,464
|
|
|||
Current deferred tax assets, net
|
260
|
|
|
239
|
|
|
244
|
|
|||
Prepaid expenses and other
|
96
|
|
|
87
|
|
|
89
|
|
|||
Total current assets
|
5,387
|
|
|
5,228
|
|
|
5,294
|
|
|||
|
|
|
|
|
|
||||||
Land, buildings and equipment (net of accumulated depreciation of $4,587, $4,395 and $4,270)
|
3,096
|
|
|
2,949
|
|
|
2,810
|
|
|||
Goodwill
|
175
|
|
|
175
|
|
|
175
|
|
|||
Other assets
|
248
|
|
|
222
|
|
|
269
|
|
|||
Total assets
|
$
|
8,906
|
|
|
$
|
8,574
|
|
|
$
|
8,548
|
|
|
|
|
|
|
|
||||||
Liabilities and Shareholders' Equity
|
|
|
|
|
|
||||||
Current liabilities:
|
|
|
|
|
|
||||||
Accounts payable
|
$
|
1,529
|
|
|
$
|
1,263
|
|
|
$
|
1,395
|
|
Accrued salaries, wages and related benefits
|
358
|
|
|
395
|
|
|
322
|
|
|||
Other current liabilities
|
944
|
|
|
876
|
|
|
837
|
|
|||
Current portion of long-term debt
|
7
|
|
|
7
|
|
|
407
|
|
|||
Total current liabilities
|
2,838
|
|
|
2,541
|
|
|
2,961
|
|
|||
|
|
|
|
|
|
||||||
Long-term debt, net
|
3,111
|
|
|
3,106
|
|
|
2,715
|
|
|||
Deferred property incentives, net
|
498
|
|
|
498
|
|
|
490
|
|
|||
Other liabilities
|
358
|
|
|
349
|
|
|
351
|
|
|||
|
|
|
|
|
|
||||||
Commitments and contingencies
|
|
|
|
|
|
||||||
|
|
|
|
|
|
||||||
Shareholders' equity:
|
|
|
|
|
|
||||||
Common stock, no par value: 1,000 shares authorized; 188.6, 191.2 and 195.5 shares issued and outstanding
|
1,958
|
|
|
1,827
|
|
|
1,762
|
|
|||
Retained earnings
|
179
|
|
|
292
|
|
|
313
|
|
|||
Accumulated other comprehensive loss
|
(36
|
)
|
|
(39
|
)
|
|
(44
|
)
|
|||
Total shareholders' equity
|
2,101
|
|
|
2,080
|
|
|
2,031
|
|
|||
Total liabilities and shareholders' equity
|
$
|
8,906
|
|
|
$
|
8,574
|
|
|
$
|
8,548
|
|
|
|
|
|
|
|
|
Accumulated
|
|
|
|||||||||
|
|
|
|
|
|
|
Other
|
|
|
|||||||||
|
Common Stock
|
|
Retained
|
|
Comprehensive
|
|
|
|||||||||||
|
Shares
|
|
Amount
|
|
Earnings
|
|
Loss
|
|
Total
|
|||||||||
Balance at February 1, 2014
|
191.2
|
|
|
$
|
1,827
|
|
|
$
|
292
|
|
|
$
|
(39
|
)
|
|
$
|
2,080
|
|
Net earnings
|
—
|
|
|
—
|
|
|
323
|
|
|
—
|
|
|
323
|
|
||||
Other comprehensive earnings
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
3
|
|
||||
Dividends ($0.66 per share)
|
—
|
|
|
—
|
|
|
(125
|
)
|
|
—
|
|
|
(125
|
)
|
||||
Issuance of common stock under stock compensation plans
|
2.3
|
|
|
101
|
|
|
—
|
|
|
—
|
|
|
101
|
|
||||
Stock-based compensation
|
—
|
|
|
30
|
|
|
—
|
|
|
—
|
|
|
30
|
|
||||
Repurchase of common stock
|
(4.9
|
)
|
|
—
|
|
|
(311
|
)
|
|
—
|
|
|
(311
|
)
|
||||
Balance at August 2, 2014
|
188.6
|
|
|
$
|
1,958
|
|
|
$
|
179
|
|
|
$
|
(36
|
)
|
|
$
|
2,101
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
Accumulated
|
|
|
|||||||||
|
|
|
|
|
|
|
Other
|
|
|
|||||||||
|
Common Stock
|
|
Retained
|
|
Comprehensive
|
|
|
|||||||||||
|
Shares
|
|
Amount
|
|
Earnings
|
|
Loss
|
|
Total
|
|||||||||
Balance at February 2, 2013
|
197.0
|
|
|
$
|
1,645
|
|
|
$
|
315
|
|
|
$
|
(47
|
)
|
|
$
|
1,913
|
|
Net earnings
|
—
|
|
|
—
|
|
|
329
|
|
|
—
|
|
|
329
|
|
||||
Other comprehensive earnings
|
—
|
|
|
—
|
|
|
—
|
|
|
3
|
|
|
3
|
|
||||
Dividends ($0.60 per share)
|
—
|
|
|
—
|
|
|
(117
|
)
|
|
—
|
|
|
(117
|
)
|
||||
Issuance of common stock under stock compensation plans
|
2.3
|
|
|
84
|
|
|
—
|
|
|
—
|
|
|
84
|
|
||||
Stock-based compensation
|
—
|
|
|
33
|
|
|
—
|
|
|
—
|
|
|
33
|
|
||||
Repurchase of common stock
|
(3.8
|
)
|
|
—
|
|
|
(214
|
)
|
|
—
|
|
|
(214
|
)
|
||||
Balance at August 3, 2013
|
195.5
|
|
|
$
|
1,762
|
|
|
$
|
313
|
|
|
$
|
(44
|
)
|
|
$
|
2,031
|
|
|
Six Months Ended
|
||||||
|
August 2, 2014
|
|
August 3, 2013
|
||||
Operating Activities
|
|
|
|
||||
Net earnings
|
$
|
323
|
|
|
$
|
329
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
|
|
|
||||
Depreciation and amortization expenses
|
244
|
|
|
220
|
|
||
Amortization of deferred property incentives and other, net
|
(40
|
)
|
|
(32
|
)
|
||
Deferred income taxes, net
|
(43
|
)
|
|
(35
|
)
|
||
Stock-based compensation expense
|
31
|
|
|
34
|
|
||
Tax benefit from stock-based compensation
|
10
|
|
|
16
|
|
||
Excess tax benefit from stock-based compensation
|
(11
|
)
|
|
(17
|
)
|
||
Bad debt expense
|
22
|
|
|
30
|
|
||
Change in operating assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(221
|
)
|
|
(199
|
)
|
||
Merchandise inventories
|
(263
|
)
|
|
(119
|
)
|
||
Prepaid expenses and other assets
|
(11
|
)
|
|
(9
|
)
|
||
Accounts payable
|
241
|
|
|
328
|
|
||
Accrued salaries, wages and related benefits
|
(35
|
)
|
|
(82
|
)
|
||
Other current liabilities
|
68
|
|
|
30
|
|
||
Deferred property incentives
|
48
|
|
|
42
|
|
||
Other liabilities
|
6
|
|
|
11
|
|
||
Net cash provided by operating activities
|
369
|
|
|
547
|
|
||
|
|
|
|
||||
Investing Activities
|
|
|
|
||||
Capital expenditures
|
(376
|
)
|
|
(427
|
)
|
||
Change in credit card receivables originated at third parties
|
(77
|
)
|
|
(70
|
)
|
||
Other, net
|
(9
|
)
|
|
(7
|
)
|
||
Net cash used in investing activities
|
(462
|
)
|
|
(504
|
)
|
||
|
|
|
|
||||
Financing Activities
|
|
|
|
||||
Proceeds from long-term borrowings
|
13
|
|
|
—
|
|
||
Principal payments on long-term borrowings
|
(4
|
)
|
|
(3
|
)
|
||
Increase in cash book overdrafts
|
15
|
|
|
56
|
|
||
Cash dividends paid
|
(125
|
)
|
|
(117
|
)
|
||
Payments for repurchase of common stock
|
(326
|
)
|
|
(219
|
)
|
||
Proceeds from issuances under stock compensation plans
|
91
|
|
|
68
|
|
||
Excess tax benefit from stock-based compensation
|
11
|
|
|
17
|
|
||
Other, net
|
(4
|
)
|
|
(2
|
)
|
||
Net cash used in financing activities
|
(329
|
)
|
|
(200
|
)
|
||
|
|
|
|
||||
Net decrease in cash and cash equivalents
|
(422
|
)
|
|
(157
|
)
|
||
Cash and cash equivalents at beginning of period
|
1,194
|
|
|
1,285
|
|
||
Cash and cash equivalents at end of period
|
$
|
772
|
|
|
$
|
1,128
|
|
|
|
|
|
||||
Supplemental Cash Flow Information
|
|
|
|
||||
Cash paid during the period for:
|
|
|
|
||||
Interest (net of capitalized interest)
|
$
|
78
|
|
|
$
|
81
|
|
Income taxes (net of refunds)
|
219
|
|
|
235
|
|
|
August 2, 2014
|
|
February 1, 2014
|
|
August 3, 2013
|
||||||
Credit card receivables:
|
|
|
|
|
|
||||||
Nordstrom VISA credit card receivables
|
$
|
1,410
|
|
|
$
|
1,316
|
|
|
$
|
1,419
|
|
Nordstrom private label card receivables
|
1,010
|
|
|
868
|
|
|
932
|
|
|||
Total credit card receivables
|
2,420
|
|
|
2,184
|
|
|
2,351
|
|
|||
Allowance for credit losses
|
(80
|
)
|
|
(80
|
)
|
|
(85
|
)
|
|||
Credit card receivables, net
|
2,340
|
|
|
2,104
|
|
|
2,266
|
|
|||
Other accounts receivable
1
|
114
|
|
|
73
|
|
|
103
|
|
|||
Accounts receivable, net
|
$
|
2,454
|
|
|
$
|
2,177
|
|
|
$
|
2,369
|
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Allowance at beginning of period
|
$
|
80
|
|
|
$
|
85
|
|
|
$
|
80
|
|
|
$
|
85
|
|
Bad debt expense
|
7
|
|
|
16
|
|
|
22
|
|
|
30
|
|
||||
Write-offs
|
(19
|
)
|
|
(21
|
)
|
|
(38
|
)
|
|
(42
|
)
|
||||
Recoveries
|
12
|
|
|
5
|
|
|
16
|
|
|
12
|
|
||||
Allowance at end of period
|
$
|
80
|
|
|
$
|
85
|
|
|
$
|
80
|
|
|
$
|
85
|
|
|
August 2, 2014
|
|
February 1, 2014
|
|
August 3, 2013
|
||||||
Credit card receivables classified as TDRs
|
$
|
38
|
|
|
$
|
43
|
|
|
$
|
45
|
|
Percent of total credit card receivables classified as TDRs
|
1.6
|
%
|
|
2.0
|
%
|
|
1.9
|
%
|
|
August 2, 2014
|
|
February 1, 2014
|
|
August 3, 2013
|
|||||||||||||||
|
Balance
|
|
% of total
|
|
Balance
|
|
% of total
|
|
Balance
|
|
% of total
|
|||||||||
Current
|
$
|
2,301
|
|
|
95.1
|
%
|
|
$
|
2,046
|
|
|
93.7
|
%
|
|
$
|
2,241
|
|
|
95.3
|
%
|
1 – 29 days delinquent
|
82
|
|
|
3.4
|
%
|
|
99
|
|
|
4.5
|
%
|
|
74
|
|
|
3.2
|
%
|
|||
30 days or more delinquent:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
30 – 59 days delinquent
|
15
|
|
|
0.6
|
%
|
|
16
|
|
|
0.7
|
%
|
|
14
|
|
|
0.6
|
%
|
|||
60 – 89 days delinquent
|
9
|
|
|
0.4
|
%
|
|
9
|
|
|
0.4
|
%
|
|
9
|
|
|
0.4
|
%
|
|||
90 days or more delinquent
|
13
|
|
|
0.5
|
%
|
|
14
|
|
|
0.7
|
%
|
|
13
|
|
|
0.5
|
%
|
|||
Total 30 days or more delinquent
|
37
|
|
|
1.5
|
%
|
|
39
|
|
|
1.8
|
%
|
|
36
|
|
|
1.5
|
%
|
|||
Total credit card receivables
|
$
|
2,420
|
|
|
100.0
|
%
|
|
$
|
2,184
|
|
|
100.0
|
%
|
|
$
|
2,351
|
|
|
100.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Receivables not accruing finance charges
|
$
|
11
|
|
|
|
|
$
|
13
|
|
|
|
|
$
|
10
|
|
|
|
|||
Receivables 90 days or more delinquent and still accruing finance charges
|
7
|
|
|
|
|
8
|
|
|
|
|
7
|
|
|
|
|
August 2, 2014
|
|
February 1, 2014
|
|
August 3, 2013
|
|||||||||||||||
FICO Score Range
1
|
Balance
|
|
% of total
|
|
Balance
|
|
% of total
|
|
Balance
|
|
% of total
|
|||||||||
801+
|
$
|
481
|
|
|
19.8
|
%
|
|
$
|
313
|
|
|
14.3
|
%
|
|
$
|
430
|
|
|
18.3
|
%
|
660 – 800
|
1,478
|
|
|
61.1
|
%
|
|
1,393
|
|
|
63.8
|
%
|
|
1,455
|
|
|
61.9
|
%
|
|||
001 – 659
|
365
|
|
|
15.1
|
%
|
|
379
|
|
|
17.4
|
%
|
|
367
|
|
|
15.6
|
%
|
|||
Other
2
|
96
|
|
|
4.0
|
%
|
|
99
|
|
|
4.5
|
%
|
|
99
|
|
|
4.2
|
%
|
|||
Total credit card receivables
|
$
|
2,420
|
|
|
100.0
|
%
|
|
$
|
2,184
|
|
|
100.0
|
%
|
|
$
|
2,351
|
|
|
100.0
|
%
|
|
August 2, 2014
|
|
February 1, 2014
|
|
August 3, 2013
|
||||||
Secured
|
|
|
|
|
|
||||||
Series 2011-1 Class A Notes, 2.28%, due October 2016
|
$
|
325
|
|
|
$
|
325
|
|
|
$
|
325
|
|
Mortgage payable, 7.68%, due April 2020
|
39
|
|
|
42
|
|
|
44
|
|
|||
Other
|
8
|
|
|
9
|
|
|
9
|
|
|||
Total secured debt
|
372
|
|
|
376
|
|
|
378
|
|
|||
|
|
|
|
|
|
||||||
Unsecured
|
|
|
|
|
|
||||||
Net of unamortized discount:
|
|
|
|
|
|
||||||
Senior notes, 6.75%, due June 2014
|
—
|
|
|
—
|
|
|
400
|
|
|||
Senior notes, 6.25%, due January 2018
|
649
|
|
|
648
|
|
|
648
|
|
|||
Senior notes, 4.75%, due May 2020
|
499
|
|
|
499
|
|
|
499
|
|
|||
Senior notes, 4.00%, due October 2021
|
499
|
|
|
499
|
|
|
499
|
|
|||
Senior debentures, 6.95%, due March 2028
|
300
|
|
|
300
|
|
|
300
|
|
|||
Senior notes, 7.00%, due January 2038
|
146
|
|
|
146
|
|
|
344
|
|
|||
Senior notes, 5.00%, due January 2044
|
596
|
|
|
595
|
|
|
—
|
|
|||
Unamortized fair value hedge and other
|
57
|
|
|
50
|
|
|
54
|
|
|||
Total unsecured debt
|
2,746
|
|
|
2,737
|
|
|
2,744
|
|
|||
|
|
|
|
|
|
||||||
Total long-term debt
|
3,118
|
|
|
3,113
|
|
|
3,122
|
|
|||
Less: current portion
|
(7
|
)
|
|
(7
|
)
|
|
(407
|
)
|
|||
Total due beyond one year
|
$
|
3,111
|
|
|
$
|
3,106
|
|
|
$
|
2,715
|
|
|
August 2, 2014
|
|
February 1, 2014
|
|
August 3, 2013
|
||||||
Carrying value of long-term debt
1
|
$
|
3,118
|
|
|
$
|
3,113
|
|
|
$
|
3,122
|
|
Fair value of long-term debt
|
3,551
|
|
|
3,511
|
|
|
3,471
|
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Stock options
|
$
|
11
|
|
|
$
|
13
|
|
|
$
|
21
|
|
|
$
|
26
|
|
Restricted stock units
|
4
|
|
|
—
|
|
|
6
|
|
|
—
|
|
||||
Employee stock purchase plan
|
—
|
|
|
—
|
|
|
1
|
|
|
1
|
|
||||
Other
|
3
|
|
|
4
|
|
|
3
|
|
|
7
|
|
||||
Total stock-based compensation expense, before income tax benefit
|
18
|
|
|
17
|
|
|
31
|
|
|
34
|
|
||||
Income tax benefit
|
(7
|
)
|
|
(5
|
)
|
|
(11
|
)
|
|
(11
|
)
|
||||
Total stock-based compensation expense, net of income tax benefit
|
$
|
11
|
|
|
$
|
12
|
|
|
$
|
20
|
|
|
$
|
23
|
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
||||||||||
|
Units granted
|
|
Weighted-average grant-date fair value per unit
|
|
Units granted
|
|
Weighted-average grant-date fair value per unit
|
||||||
Stock options
|
1.9
|
|
|
$
|
16
|
|
|
3.7
|
|
|
$
|
14
|
|
Restricted stock units
|
0.5
|
|
|
62
|
|
|
—
|
|
|
—
|
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Net earnings
|
$
|
183
|
|
|
$
|
184
|
|
|
$
|
323
|
|
|
$
|
329
|
|
|
|
|
|
|
|
|
|
||||||||
Basic shares
|
189.6
|
|
|
195.5
|
|
|
189.7
|
|
|
195.5
|
|
||||
Dilutive effect of stock options and other
|
3.1
|
|
|
3.3
|
|
|
3.0
|
|
|
3.4
|
|
||||
Diluted shares
|
192.7
|
|
|
198.8
|
|
|
192.7
|
|
|
198.9
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Earnings per basic share
|
$
|
0.97
|
|
|
$
|
0.94
|
|
|
$
|
1.70
|
|
|
$
|
1.68
|
|
Earnings per diluted share
|
$
|
0.95
|
|
|
$
|
0.93
|
|
|
$
|
1.68
|
|
|
$
|
1.66
|
|
|
|
|
|
|
|
|
|
||||||||
Anti-dilutive stock options and other
|
1.8
|
|
|
3.4
|
|
|
3.4
|
|
|
4.6
|
|
|
|
Retail
|
|
Corporate/Other
|
|
Total
Retail
Business
1
|
|
Credit
|
|
Total
|
||||||||||
Quarter Ended August 2, 2014
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net sales
|
|
$
|
3,438
|
|
|
$
|
(142
|
)
|
|
$
|
3,296
|
|
|
$
|
—
|
|
|
$
|
3,296
|
|
Credit card revenues
|
|
—
|
|
|
—
|
|
|
—
|
|
|
96
|
|
|
96
|
|
|||||
Earnings (loss) before interest and income taxes
|
|
367
|
|
|
(89
|
)
|
|
278
|
|
|
53
|
|
|
331
|
|
|||||
Interest expense, net
|
|
—
|
|
|
(30
|
)
|
|
(30
|
)
|
|
(5
|
)
|
|
(35
|
)
|
|||||
Earnings (loss) before income taxes
|
|
367
|
|
|
(119
|
)
|
|
248
|
|
|
48
|
|
|
296
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Quarter Ended August 3, 2013
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net sales
|
|
$
|
3,245
|
|
|
$
|
(141
|
)
|
|
$
|
3,104
|
|
|
$
|
—
|
|
|
$
|
3,104
|
|
Credit card revenues
|
|
—
|
|
|
—
|
|
|
—
|
|
|
92
|
|
|
92
|
|
|||||
Earnings (loss) before interest and income taxes
|
|
375
|
|
|
(80
|
)
|
|
295
|
|
|
40
|
|
|
335
|
|
|||||
Interest expense, net
|
|
—
|
|
|
(31
|
)
|
|
(31
|
)
|
|
(6
|
)
|
|
(37
|
)
|
|||||
Earnings (loss) before income taxes
|
|
375
|
|
|
(111
|
)
|
|
264
|
|
|
34
|
|
|
298
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Six Months Ended August 2, 2014
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net sales
|
|
$
|
6,348
|
|
|
$
|
(215
|
)
|
|
$
|
6,133
|
|
|
$
|
—
|
|
|
$
|
6,133
|
|
Credit card revenues
|
|
—
|
|
|
—
|
|
|
—
|
|
|
190
|
|
|
190
|
|
|||||
Earnings (loss) before interest and income taxes
|
|
677
|
|
|
(175
|
)
|
|
502
|
|
|
94
|
|
|
596
|
|
|||||
Interest expense, net
|
|
—
|
|
|
(61
|
)
|
|
(61
|
)
|
|
(9
|
)
|
|
(70
|
)
|
|||||
Earnings (loss) before income taxes
|
|
677
|
|
|
(236
|
)
|
|
441
|
|
|
85
|
|
|
526
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Six Months Ended August 3, 2013
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Net sales
|
|
$
|
5,958
|
|
|
$
|
(197
|
)
|
|
$
|
5,761
|
|
|
$
|
—
|
|
|
$
|
5,761
|
|
Credit card revenues
|
|
—
|
|
|
—
|
|
|
—
|
|
|
184
|
|
|
184
|
|
|||||
Earnings (loss) before interest and income taxes
|
|
675
|
|
|
(149
|
)
|
|
526
|
|
|
84
|
|
|
610
|
|
|||||
Interest expense, net
|
|
—
|
|
|
(64
|
)
|
|
(64
|
)
|
|
(12
|
)
|
|
(76
|
)
|
|||||
Earnings (loss) before income taxes
|
|
675
|
|
|
(213
|
)
|
|
462
|
|
|
72
|
|
|
534
|
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Nordstrom full-line stores
|
$
|
2,074
|
|
|
$
|
2,098
|
|
|
$
|
3,757
|
|
|
$
|
3,815
|
|
Direct
|
519
|
|
|
425
|
|
|
920
|
|
|
726
|
|
||||
Nordstrom
|
2,593
|
|
|
2,523
|
|
|
4,677
|
|
|
4,541
|
|
||||
Nordstrom Rack
|
759
|
|
|
645
|
|
|
1,500
|
|
|
1,261
|
|
||||
HauteLook, Nordstromrack.com and Jeffrey
|
86
|
|
|
77
|
|
|
171
|
|
|
156
|
|
||||
Total Retail segment
|
3,438
|
|
|
3,245
|
|
|
6,348
|
|
|
5,958
|
|
||||
Corporate/Other
|
(142
|
)
|
|
(141
|
)
|
|
(215
|
)
|
|
(197
|
)
|
||||
Total net sales
|
$
|
3,296
|
|
|
$
|
3,104
|
|
|
$
|
6,133
|
|
|
$
|
5,761
|
|
•
|
successful execution of our customer strategy, including expansion into new markets, acquisitions, investments in our stores and online, our ability to realize the anticipated benefits from growth initiatives, 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 transformation of our business/financial model as we increase our investments in growth opportunities, including 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,
|
•
|
reviewing of options and structure for a financial partner in regards to a potential transaction related to our credit card receivables,
|
•
|
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 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, and trends in debt repayment patterns, personal bankruptcies and bad debt write-offs, 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.
|
|
Quarter Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
||||||||||
|
Amount
|
|
% of net sales
1
|
|
Amount
|
|
% of net sales
1
|
||||||
Net sales
|
$
|
3,296
|
|
|
100.0
|
%
|
|
$
|
3,104
|
|
|
100.0
|
%
|
Cost of sales and related buying and occupancy costs
|
(2,129
|
)
|
|
(64.6
|
%)
|
|
(2,002
|
)
|
|
(64.5
|
%)
|
||
Gross profit
|
1,167
|
|
|
35.4
|
%
|
|
1,102
|
|
|
35.5
|
%
|
||
Selling, general and administrative expenses
|
(889
|
)
|
|
(27.0
|
%)
|
|
(807
|
)
|
|
(26.0
|
%)
|
||
Earnings before interest and income taxes
|
$
|
278
|
|
|
8.5
|
%
|
|
$
|
295
|
|
|
9.5
|
%
|
|
|||||||||||||
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
||||||||||
|
Amount
|
|
% of net sales
1
|
|
Amount
|
|
% of net sales
1
|
||||||
Net sales
|
$
|
6,133
|
|
|
100.0
|
%
|
|
$
|
5,761
|
|
|
100.0
|
%
|
Cost of sales and related buying and occupancy costs
|
(3,949
|
)
|
|
(64.4
|
%)
|
|
(3,674
|
)
|
|
(63.8
|
%)
|
||
Gross profit
|
2,184
|
|
|
35.6
|
%
|
|
2,087
|
|
|
36.2
|
%
|
||
Selling, general and administrative expenses
|
(1,682
|
)
|
|
(27.4
|
%)
|
|
(1,561
|
)
|
|
(27.1
|
%)
|
||
Earnings before interest and income taxes
|
$
|
502
|
|
|
8.2
|
%
|
|
$
|
526
|
|
|
9.1
|
%
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Net sales by channel:
|
|
|
|
|
|
|
|
||||||||
Nordstrom full-line stores
|
$
|
2,074
|
|
|
$
|
2,098
|
|
|
$
|
3,757
|
|
|
$
|
3,815
|
|
Direct
|
519
|
|
|
425
|
|
|
920
|
|
|
726
|
|
||||
Nordstrom
|
2,593
|
|
|
2,523
|
|
|
4,677
|
|
|
4,541
|
|
||||
Nordstrom Rack
|
759
|
|
|
645
|
|
|
1,500
|
|
|
1,261
|
|
||||
HauteLook, Nordstromrack.com and Jeffrey
|
86
|
|
|
77
|
|
|
171
|
|
|
156
|
|
||||
Total Retail segment
|
3,438
|
|
|
3,245
|
|
|
6,348
|
|
|
5,958
|
|
||||
Corporate/Other
|
(142
|
)
|
|
(141
|
)
|
|
(215
|
)
|
|
(197
|
)
|
||||
Total net sales
|
$
|
3,296
|
|
|
$
|
3,104
|
|
|
$
|
6,133
|
|
|
$
|
5,761
|
|
|
|
|
|
|
|
|
|
||||||||
Net sales increase
|
6.2
|
%
|
|
6.4
|
%
|
|
6.4
|
%
|
|
5.6
|
%
|
||||
|
|
|
|
|
|
|
|
||||||||
Comparable sales increase (decrease) by channel:
1
|
|
|
|
|
|
|
|
||||||||
Nordstrom full-line stores
|
(1.2
|
%)
|
|
(0.7
|
%)
|
|
(1.5
|
%)
|
|
(0.4
|
%)
|
||||
Direct
|
22.0
|
%
|
|
37.2
|
%
|
|
26.6
|
%
|
|
31.7
|
%
|
||||
Nordstrom
|
2.7
|
%
|
|
4.2
|
%
|
|
3.0
|
%
|
|
3.7
|
%
|
||||
Nordstrom Rack
|
4.0
|
%
|
|
2.4
|
%
|
|
5.2
|
%
|
|
1.6
|
%
|
||||
HauteLook and Nordstromrack.com
|
14.9
|
%
|
|
23.1
|
%
|
|
12.6
|
%
|
|
28.6
|
%
|
||||
Total
|
3.3
|
%
|
|
4.4
|
%
|
|
3.6
|
%
|
|
3.6
|
%
|
||||
|
|
|
|
|
|
|
|
||||||||
Sales per square foot
2
|
$
|
125
|
|
|
$
|
121
|
|
|
$
|
233
|
|
|
$
|
226
|
|
4-wall sales per square foot
2
|
107
|
|
|
108
|
|
|
201
|
|
|
200
|
|
||||
Full-line sales per square foot
2
|
100
|
|
|
101
|
|
|
182
|
|
|
184
|
|
||||
Nordstrom Rack sales per square foot
2
|
133
|
|
|
134
|
|
|
269
|
|
|
267
|
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Gross profit
1
|
$
|
1,167
|
|
|
$
|
1,102
|
|
|
$
|
2,184
|
|
|
$
|
2,087
|
|
Gross profit as a % of net sales
|
35.4
|
%
|
|
35.5
|
%
|
|
35.6
|
%
|
|
36.2
|
%
|
||||
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Ending inventory per square foot
|
|
|
|
|
$
|
68.27
|
|
|
$
|
57.26
|
|
||||
Inventory turnover rate
2
|
|
|
|
|
4.83
|
|
|
5.20
|
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Selling, general and administrative expenses
|
$
|
889
|
|
|
$
|
807
|
|
|
$
|
1,682
|
|
|
$
|
1,561
|
|
Selling, general and administrative expense as a % of net sales
|
27.0
|
%
|
|
26.0
|
%
|
|
27.4
|
%
|
|
27.1
|
%
|
|
Quarter Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
||||||||||
|
Amount
|
|
Annualized % of average credit card receivables
1
|
|
Amount
|
|
Annualized % of average credit card receivables
1
|
||||||
Credit card revenues
|
$
|
96
|
|
|
18.1
|
%
|
|
$
|
92
|
|
|
17.6
|
%
|
Credit expenses
|
(43
|
)
|
|
(8.3
|
%)
|
|
(52
|
)
|
|
(9.9
|
%)
|
||
Credit segment earnings before interest and income taxes
2
|
53
|
|
|
9.8
|
%
|
|
40
|
|
|
7.7
|
%
|
||
Interest expense
|
(5
|
)
|
|
(0.9
|
%)
|
|
(6
|
)
|
|
(1.2
|
%)
|
||
Intercompany merchant fees
|
31
|
|
|
5.8
|
%
|
|
28
|
|
|
5.5
|
%
|
||
Credit segment contribution, before income taxes
|
$
|
79
|
|
|
14.8
|
%
|
|
$
|
62
|
|
|
12.0
|
%
|
|
|
|
|
|
|
|
|
||||||
Credit and debit card volume
3
:
|
|
|
|
|
|
|
|
||||||
Outside
|
$
|
1,095
|
|
|
|
|
$
|
1,077
|
|
|
|
||
Inside
|
1,571
|
|
|
|
|
1,426
|
|
|
|
||||
Total volume
|
$
|
2,666
|
|
|
|
|
$
|
2,503
|
|
|
|
||
|
|
|
|
|
|
|
|
||||||
Average credit card receivables
|
$
|
2,132
|
|
|
|
|
$
|
2,074
|
|
|
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
||||||||||
|
Amount
|
|
Annualized % of average credit card receivables
1
|
|
Amount
|
|
Annualized % of average credit card receivables
1
|
||||||
Credit card revenues
|
$
|
190
|
|
|
18.2
|
%
|
|
$
|
184
|
|
|
18.0
|
%
|
Credit expenses
|
(96
|
)
|
|
(9.3
|
%)
|
|
(100
|
)
|
|
(9.8
|
%)
|
||
Credit segment earnings before interest and income taxes
2
|
94
|
|
|
9.0
|
%
|
|
84
|
|
|
8.2
|
%
|
||
Interest expense
|
(9
|
)
|
|
(0.9
|
%)
|
|
(12
|
)
|
|
(1.2
|
%)
|
||
Intercompany merchant fees
|
54
|
|
|
5.2
|
%
|
|
48
|
|
|
4.7
|
%
|
||
Credit segment contribution, before income taxes
|
$
|
139
|
|
|
13.3
|
%
|
|
$
|
120
|
|
|
11.8
|
%
|
|
|
|
|
|
|
|
|
||||||
Credit and debit card volume
3
:
|
|
|
|
|
|
|
|
||||||
Outside
|
$
|
2,146
|
|
|
|
|
$
|
2,124
|
|
|
|
||
Inside
|
2,719
|
|
|
|
|
2,444
|
|
|
|
||||
Total volume
|
$
|
4,865
|
|
|
|
|
$
|
4,568
|
|
|
|
||
|
|
|
|
|
|
|
|
||||||
Average credit card receivables
|
$
|
2,089
|
|
|
|
|
$
|
2,044
|
|
|
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Finance charge revenue
|
$
|
61
|
|
|
$
|
59
|
|
|
$
|
122
|
|
|
$
|
120
|
|
Interchange – third-party
|
22
|
|
|
22
|
|
|
44
|
|
|
43
|
|
||||
Late fees and other revenue
|
13
|
|
|
11
|
|
|
24
|
|
|
21
|
|
||||
Total Credit card revenues
|
$
|
96
|
|
|
$
|
92
|
|
|
$
|
190
|
|
|
$
|
184
|
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Operational expenses
|
$
|
35
|
|
|
$
|
34
|
|
|
72
|
|
|
67
|
|
||
Bad debt expense
|
7
|
|
|
16
|
|
|
22
|
|
|
30
|
|
||||
Occupancy expenses
|
1
|
|
|
2
|
|
|
$
|
2
|
|
|
$
|
3
|
|
||
Total Credit expenses
|
$
|
43
|
|
|
$
|
52
|
|
|
$
|
96
|
|
|
$
|
100
|
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Allowance at beginning of period
|
$
|
80
|
|
|
$
|
85
|
|
|
$
|
80
|
|
|
$
|
85
|
|
Bad debt expense
|
7
|
|
|
16
|
|
|
22
|
|
|
30
|
|
||||
Write-offs
|
(19
|
)
|
|
(21
|
)
|
|
(38
|
)
|
|
(42
|
)
|
||||
Recoveries
|
12
|
|
|
5
|
|
|
16
|
|
|
12
|
|
||||
Allowance at end of period
|
$
|
80
|
|
|
$
|
85
|
|
|
$
|
80
|
|
|
$
|
85
|
|
|
|
|
|
|
|
|
|
||||||||
Annualized net write-offs as a % of average credit card receivables
|
1.4
|
%
|
|
3.1
|
%
|
|
2.1
|
%
|
|
2.9
|
%
|
||||
Annualized net write-offs (including finance charges and fees) as a % of average credit card receivables
|
1.9
|
%
|
|
3.7
|
%
|
|
2.6
|
%
|
|
3.5
|
%
|
|
Six Months Ended
|
||||
|
August 2, 2014
|
|
August 3, 2013
|
||
30 days or more delinquent as a % of ending credit card receivables
|
1.5
|
%
|
|
1.5
|
%
|
Allowance as a % of ending credit card receivables
|
3.3
|
%
|
|
3.6
|
%
|
|
Quarter Ended
|
|
Six Months Ended
|
||||||||||||
|
August 2, 2014
|
|
August 3, 2013
|
|
August 2, 2014
|
|
August 3, 2013
|
||||||||
Income tax expense
|
$
|
113
|
|
|
$
|
114
|
|
|
$
|
203
|
|
|
$
|
205
|
|
Effective tax rate
|
38.0
|
%
|
|
38.2
|
%
|
|
38.6
|
%
|
|
38.3
|
%
|
Net sales
|
|
6.5 to 7.5 percent increase
|
Comparable sales
|
|
3 to 4 percent increase
|
Credit card revenues
|
|
Approximately $10 increase
|
Gross profit
1
(% of net sales)
|
|
40 to 50 basis point decrease
|
Selling, general and administrative expenses (% of net sales)
|
|
10 to 20 basis point increase
|
Interest expense, net
|
|
Approximately $25 decrease
|
Effective tax rate
|
|
39.0%
|
Earnings per diluted share
2
|
|
$3.80 to $3.90
|
Diluted shares outstanding
2
|
|
Approximately 192 million
|
|
12 Fiscal Months Ended
|
||||||
|
August 2, 2014
|
|
August 3, 2013
|
||||
Net earnings
|
$
|
727
|
|
|
$
|
760
|
|
Add: income tax expense
|
453
|
|
|
469
|
|
||
Add: interest expense
|
156
|
|
|
158
|
|
||
Earnings before interest and income tax expense
|
1,336
|
|
|
1,387
|
|
||
|
|
|
|
||||
Add: rent expense
|
133
|
|
|
116
|
|
||
Less: estimated depreciation on capitalized operating leases
1
|
(71
|
)
|
|
(62
|
)
|
||
Net operating profit
|
1,398
|
|
|
1,441
|
|
||
|
|
|
|
||||
Estimated income tax expense
2
|
(536
|
)
|
|
(550
|
)
|
||
Net operating profit after tax
|
$
|
862
|
|
|
$
|
891
|
|
|
|
|
|
||||
Average total assets
3
|
$
|
8,618
|
|
|
$
|
8,216
|
|
Less: average non-interest-bearing current liabilities
4
|
(2,577
|
)
|
|
(2,355
|
)
|
||
Less: average deferred property incentives
3
|
(495
|
)
|
|
(488
|
)
|
||
Add: average estimated asset base of capitalized operating leases
5
|
1,005
|
|
|
831
|
|
||
Average invested capital
|
$
|
6,551
|
|
|
$
|
6,204
|
|
|
|
|
|
||||
Return on assets
|
8.4
|
%
|
|
9.2
|
%
|
||
ROIC
|
13.2
|
%
|
|
14.4
|
%
|
|
Six Months Ended
|
||||||
|
August 2, 2014
|
|
August 3, 2013
|
||||
Net cash provided by operating activities
|
$
|
369
|
|
|
$
|
547
|
|
Less: capital expenditures
|
(376
|
)
|
|
(427
|
)
|
||
Less: cash dividends paid
|
(125
|
)
|
|
(117
|
)
|
||
Less: change in credit card receivables originated at third parties
|
(77
|
)
|
|
(70
|
)
|
||
Add: increase in cash book overdrafts
|
15
|
|
|
56
|
|
||
Free Cash Flow
|
$
|
(194
|
)
|
|
$
|
(11
|
)
|
|
|
|
|
||||
Net cash used in investing activities
|
$
|
(462
|
)
|
|
$
|
(504
|
)
|
Net cash used in financing activities
|
(329
|
)
|
|
(200
|
)
|
|
Credit
Ratings
|
|
Outlook
|
Moody's
|
Baa1
|
|
Stable
|
Standard & Poor's
|
A-
|
|
Stable
|
|
Base Interest
Rate
|
|
Applicable
Margin
|
Euro-Dollar Rate Loan
|
LIBOR
|
|
0.9%
|
Canadian Dealer Offer Rate Loan
|
CDOR
|
|
0.9%
|
Base Rate Loan
|
various
|
|
—
|
|
2014
1
|
|
2013
1
|
||||
Debt
|
$
|
3,118
|
|
|
$
|
3,122
|
|
Add: estimated capitalized operating lease liability
2
|
1,060
|
|
|
926
|
|
||
Less: fair value hedge adjustment included in long-term debt
|
(42
|
)
|
|
(54
|
)
|
||
Adjusted Debt
|
$
|
4,136
|
|
|
$
|
3,994
|
|
|
|
|
|
||||
Net earnings
|
$
|
727
|
|
|
$
|
760
|
|
Add: income tax expense
|
453
|
|
|
469
|
|
||
Add: interest expense, net
|
155
|
|
|
156
|
|
||
Earnings before interest and income taxes
|
1,335
|
|
|
1,385
|
|
||
|
|
|
|
||||
Add: depreciation and amortization expenses
|
478
|
|
|
442
|
|
||
Add: rent expense
|
133
|
|
|
116
|
|
||
Add: non-cash acquisition-related charges
|
5
|
|
|
9
|
|
||
EBITDAR
|
$
|
1,951
|
|
|
$
|
1,952
|
|
|
|
|
|
||||
Debt to Net Earnings
|
4.3
|
|
|
4.1
|
|
||
Adjusted Debt to EBITDAR
|
2.1
|
|
|
2.0
|
|
|
Total Number
of Shares
Purchased
|
|
Average
Price Paid
Per Share
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
|
|
Approximate Dollar Value
of Shares that May
Yet Be Purchased Under
the Plans or Programs
1
|
||||||
May 2014
(May 4, 2014 to May 31, 2014) |
—
|
|
|
$
|
—
|
|
|
—
|
|
|
$
|
478
|
|
June 2014
(June 1, 2014 to July 5, 2014) |
1.2
|
|
|
68.06
|
|
|
1.2
|
|
|
397
|
|
||
July 2014
(July 6, 2014 to August 2, 2014) |
0.5
|
|
|
68.41
|
|
|
0.5
|
|
|
359
|
|
||
Total
|
1.7
|
|
|
$
|
68.17
|
|
|
1.7
|
|
|
|
NORDSTROM, INC.
|
|
(Registrant)
|
|
|
|
/s/ Michael G. Koppel
|
|
Michael G. Koppel
|
|
Executive Vice President and Chief Financial Officer
|
|
(Principal Financial Officer)
|
|
|
|
Date:
|
September 2, 2014
|
Exhibit
|
|
Method of Filing
|
||
10.1
|
|
Amendment 2013-1 to the Nordstrom 401(k) Plan & Profit Sharing
|
|
Incorporated by reference from the Registrant's Form 11-K filed on June 13, 2014, Exhibit 99.14
|
|
|
|
|
|
10.2
|
|
Amendment 2014-1 to the Nordstrom Supplemental Executive Retirement Plan
|
|
Incorporated by reference from the Registrant's Form 8-K filed on August 25, 2014, Exhibit 10.1
|
|
|
|
|
|
10.3
|
|
Amendment 2014-2 to the Nordstrom Supplemental Executive Retirement Plan
|
|
Incorporated by reference from the Registrant's Form 8-K filed on August 25, 2014, Exhibit 10.2
|
|
|
|
|
|
10.4
|
|
Amendment 2014-2 to the Nordstrom 401(k) Plan & Profit Sharing
|
|
Filed herewith electronically
|
|
|
|
|
|
10.5
|
|
Amendment 2014-3 to the Nordstrom 401(k) Plan & Profit Sharing
|
|
Filed herewith electronically
|
|
|
|
|
|
10.6
|
|
Amendment 2014-4 to the Nordstrom 401(k) Plan & Profit Sharing
|
|
Filed herewith electronically
|
|
|
|
|
|
31.1
|
|
Certification of President required by Section 302(a) of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith electronically
|
|
|
|
|
|
31.2
|
|
Certification of Chief Financial Officer required by Section 302(a) of the Sarbanes-Oxley Act of 2002
|
|
Filed herewith electronically
|
|
|
|
|
|
32.1
|
|
Certification of President and Chief Financial Officer pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
Furnished herewith electronically
|
|
|
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
Filed herewith electronically
|
|
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Extension Schema Document
|
|
Filed herewith electronically
|
|
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
|
Filed herewith electronically
|
|
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Extension Labels Linkbase Document
|
|
Filed herewith electronically
|
|
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
|
Filed herewith electronically
|
|
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Extension Definition Linkbase Document
|
|
Filed herewith electronically
|
|
|
|
|
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
---|
DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
---|
No information found
No Customers Found
Price
Yield
Owner | Position | Direct Shares | Indirect Shares |
---|