Attached files
Exhibit 99.1
Issue Release: Wed Feb 27, 2013
--------------------------------------------------
NORDSTROM BOARD OF DIRECTORS AUTHORIZES $800 MILLION SHARE REPURCHASE
PROGRAM AND INCREASES ITS REGULAR QUARTERLY DIVIDEND
SEATTLE, Wash. - (February 27, 2013) - Nordstrom, Inc. (NYSE: JWN) announced
today that its board of directors has authorized a repurchase program of up to
$800 million of the Company's outstanding common stock, through March 1, 2015.
The shares are expected to be acquired through open market transactions. The
Company intends to fund the repurchase program from existing cash on hand. The
actual number and timing of share repurchases, if any, will be subject to
market conditions and applicable Securities and Exchange Commission rules.
This program is in addition to the Company's existing repurchase program that
was approved by the board in February 2012. The existing repurchase program
has $344 million outstanding, as of February 26, 2013, and will expire on
February 1, 2014.
Nordstrom also announced today that its board of directors has approved a
quarterly dividend of 30 cents per share, an increase of 11% over the previous
quarter's dividend. The dividend is payable on March 22, 2013 to shareholders
of record at the close of business on March 11, 2013.
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 240
stores in 31 states, including 117 full-line stores, 119 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.
Investor Contact: Media Contact:
Trina Schurman Colin Johnson
Nordstrom, Inc. Nordstrom, Inc.
206-233-6503 206-303-3036
