Nordstrom, Inc. reported net earnings increased 147% to $45.5 million, or 33 cents per diluted share, for the third quarter of 2003 ended November 1, 2003, compared to net earnings of $18.4 million, or 14 cents per diluted share, for the year-ago period.

On a comparable 4-5-4 basis, net sales for the third quarter of 2003 increased 9.8%, to $1.4 billion, compared to sales of $1.3 billion in the same period last year. Third quarter 2003 same-store sales increased 5.0%.

YEAR-TO-DATE RESULTS

Year-to-date net earnings and earnings per share for the period ended
November 1, 2003, were $138.5 million and $1.01, respectively, compared to net
earnings and earnings per share of $30.2 million and $0.22 for the same period
in 2002. Excluding $71.0 million (net of tax) in non-recurring and impairment
charges(1), year-to-date 2002 net earnings and earnings per diluted share were
$101.2 million and $0.75, respectively.

On a comparable 4-5-4 basis, year-to-date net sales of $4.5 billion
increased 7.2 percent from the same period in 2002. Year-to-date same store
sales increased 2.6 percent.

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. Sales performance
numbers included in this release have been calculated on a comparative 4-5-4
basis. The Company believes that adjusting for these differences provides a
more comparable basis (4-5-4 vs. 4-5-4) from which to evaluate sales
performance. The following reconciliation bridges 2002 GAAP sales to the 4-5-4 comparable sales. 


                                                            % Change  % Change
                                QTD      QTD       Dollar   Total     Comp
     Sales Reconciliation ($M)  2003     2002      Increase Sales     Sales
     Number of Days GAAP         91      92
     GAAP Sales                 $1,420.6 $1,323.2  $97.4    7.4%      2.5%
     Less Aug. 1-3, 2002 sales  --       ($72.9)
     Plus Nov. 1-2, 2002 sales  --       $43.2
     Reported 4-5-4 sales       $1,420.6 $1,293.5  $127.1   9.8%      5.0%
     4-5-4 Adjusted Days        91       91


                                                             % Change % Change
                                YTD      YTD       Dollar    Total    Comp
     Sales Reconciliation ($M)  2003     2002      Increase  Sales    Sales
     Number of Days GAAP        274      273
     GAAP Sales                 $4,559.1 $4,224.5  $334.6    7.9%     2.9%
     Less Feb. 1, 2003          ($18.2)  --
     Less Feb. 1-2, 2002 sales  --       ($30.4)
     Plus Nov. 1-2, 2002 sales  --       $43.2
     Reported 4-5-4 sales       $4,540.9 $4,237.3  $303.6    7.2%     2.6%
     4-5-4 Adjusted Days        273      273

EXPANSION UPDATE

During the third quarter of 2003 Nordstrom opened four stores: two full-
line stores, one in Austin, Texas, and the other in Richmond, Va. and two Rack
stores in Chicago, Ill. and Ft. Lauderdale, Fla. The final new store planned
for this year was opened November 14th in Wellington Green, Fla. Gross square
footage for the year is expected to increase approximately 4.0 percent, from
18,428,000 to 19,131,000.

2003 OUTLOOK

The Company is providing the following 2003 forecasts:

                                   4th Quarter 2003      Full-Year 2003

     Comp-store Sales              Increase 2-4%         Increase 1-3%

     Gross Profit (%)              Moderate              Moderate
                                   improvement           improvement

     Selling, General and          Moderate              Moderate
      Administrative Expense (%)   improvement           improvement

     Service Charge Income         Increase              Increase
                                   $1-2 million          $12-14 million

     Interest Expense              Decrease              Increase
                                   $2-4 million          $8-10 million

     Effective Tax Rate            39%                   39%

     Earnings per Share            $0.54 - $0.58         $1.55 - $1.59


                               NORDSTROM, INC.
              CONSOLIDATED STATEMENTS OF EARNINGS - 3rd Quarter
  (unaudited;  amounts in thousands, except per share data and percentages)

                                    Quarter   % of sales   Quarter  % of sales
                                     ended    (except as   ended    (except as
                                    11/1/03   indicated)  10/31/02  indicated)

    Net sales                      $1,420,610   100.0   $1,323,201   100.0
    Cost of sales and related
     buying & occupancy              (911,314)  (64.1)    (872,154)  (65.9)
    Gross profit                      509,296    35.9      451,047    34.1
    Selling, general and
     administrative expenses         (450,622)  (31.8)    (434,921)  (32.9)
    Operating income                   58,674     4.1       16,126     1.2
    Interest expense, net             (26,681)   (1.9)     (20,832)   (1.5)
    Service charge income
     and other, net                    42,576     3.0       35,006     2.6
    Earnings before income taxes       74,569     5.2       30,300     2.3
    Income tax expense                (29,100)  (39.0)(2)  (11,873)  (39.2)(2)
    Net earnings                      $45,469     3.2      $18,427     1.4
    Earnings per share
      Basic                             $0.33   $0.14
      Diluted                           $0.33   $0.14