Nordstrom reported preliminary sales of $431.3 million for the 28-day period ending February 28, 2004, an increase of 11.8% compared to sales of $385.8 million for the 29-day period ending March 1, 2003. Same-store sales
increased 8.8% for the 28-day period in 2004 compared to the 29-day period in 2003. On a comparable 28-day to 28-day basis, same-store sales increased 14.1%.
February same-store sales in full-line stores increased in all geographic
regions and all major merchandise categories.
GAAP Sales Performance
The additional information provided in this section is to comply with the
Securities and Exchange Commission's Regulation G. The Company converted to a
4-5-4 Retail Calendar at the beginning of 2003. This change in the fiscal
calendar has resulted in differences in the number of days included in the
current period versus the same period in the prior year. The Company
believes that adjusting for this difference provides a more comparable basis
(4-5-4 vs. 4-5-4) from which to evaluate sales performance. The following
reconciliation bridges 2003 GAAP sales to the 4-5-4 comparable sales.
Sales % Change % Change Reconciliation February February Dollar Total Comp ($M) 2004 2003 Increase Sales Sales Number of Days GAAP 28 29 GAAP Sales $431.3 $385.8 $45.5 11.8% 8.8% Less Feb. 1, 2003 sales -- ($18.2) Reported 4-5-4 sales $431.3 $367.6 $63.7 17.3% 14.1% 4-5-4 Adjusted Days 28 28
SALES SUMMARY Feb. Feb.
(unaudited; $ in millions ) 2004 2003
Total sales $431.3 $367.6
Total sales percentage change 17.3% 2.4%
Same-store sales percentage change 14.1% (2.3%)Number of stores (as of Feb. 29, 2004)
Full-line 92 88
Rack and other 56 54
International Faconnable boutiques 31 23
Total 179 165
Gross square footage 19,138,000 18,385,000