Financial Data and Key Metrics Changes - For Q3 2022, the company reported net sales of $3.4 billion, a decrease of 3% year-over-year, with a loss per share of $0.13 and adjusted earnings per share of $0.20 [6][44] - Gross profit as a percentage of net sales decreased by 190 basis points, primarily due to higher markdown rates on clearance products [46] - Ending inventory increased by 1% compared to a 3% decrease in sales, indicating a focus on aligning inventory with demand [47] Business Line Data and Key Metrics Changes - Nordstrom banner sales and gross merchandise value (GMV) each decreased by 3% year-over-year, with Nordstrom Rack sales declining by 2% [12][45] - Digital sales decreased by 16%, impacted by the anniversary sale timing shift and changes in store fulfillment strategies [22][46] - Sales of the top 100 brands at Nordstrom Rack increased by 9%, highlighting growth opportunities in premium brands [17] Market Data and Key Metrics Changes - Customer demand softened in late October and early November, particularly in lower-income segments, but improved in the last two weeks of the quarter [9][55] - Order pickup represented 12% of nordstrom.com demand, an increase of 200 basis points year-over-year, indicating a shift towards in-store shopping [19] Company Strategy and Development Direction - The company is focused on improving Nordstrom Rack performance, increasing profitability, and optimizing supply chain and inventory flow [14] - Strategic initiatives include reducing store-based order fulfillment for Rack and increasing the minimum order amount for free shipping to improve profitability [15] - The company aims to clear excess inventory and enhance the product mix to better serve customers and drive profitable growth [40] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing macroeconomic pressures affecting all customer segments, particularly lower-income groups, but expressed confidence in the company's agility and strategic capabilities [25][63] - The company expects to enter 2023 with a healthy inventory position and is committed to disciplined inventory management [47][63] - For fiscal year 2022, the company reaffirms revenue growth expectations of 5% to 7% and an adjusted EBIT margin of approximately 4.3% to 4.7% [57] Other Important Information - Anne Bramman, the Chief Financial Officer, will step down on December 2, 2022, with Michael Maher serving as interim CFO [42] - The company has extended its credit card program agreement with TD Bank, enhancing the card member experience [51] Q&A Session Summary Question: What are the positive offsets to maintain the sales guide despite headwinds? - Management acknowledged the headwinds but indicated that the impacts are consistent with what was observed in Q3, expecting similar trends in Q4 [68] Question: How is the company planning full-line inventory by category for next year? - Management expressed confidence in the inventory content for the fourth quarter, focusing on categories that reflect customer engagement and occasion-based shopping [71] Question: What factors contributed to the underperformance of Nordstrom Rack? - Management noted a pullback in lower-income customer segments and emphasized the need to clear less productive inventory while focusing on premium brands [84][86] Question: Are the variable cost improvements permanent? - Management confirmed that the improvements in variable costs are permanent, driven by supply chain efficiencies [94] Question: How much excess inventory is left to clear in Q4? - Management indicated that they expect to take approximately $200 million of incremental markdowns in the back half of the year, aiming for a healthy inventory position by year-end [96] Question: What are the expectations for operating margin and SG&A growth in 2023? - Management highlighted the uncertainty in the macro environment but emphasized a focus on preserving agility and managing expenses while improving gross margin [105]

Q3 2022 EARNINGS CALL NORDSTROM FORWARD-LOOKING STATEMENTS This presentation contains statements that are forward looking. These statements are based upon current expectations and assumptions that are subject to risks and uncertainties. We may not achieve the results projected in these forward-looking statements, and our actual results could materially differ because of factors discussed in this event, in the comments made during this presentation, and in the risk factors section of our Form 10-K, Form 10-Q ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 30, 2022 Commission File Number: 001-15059 Nordstrom, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Washington 91-0515058 (I.R.S. Employer Identification No.) or ☐ TRANSITION REPORT PURSUANT TO SECT ...

Financial Data and Key Metrics Changes - Total sales increased by 12% year-over-year, benefiting from approximately 200 basis points due to the Anniversary Sale shifting into the second quarter [9][35] - Earnings for the second quarter were $0.77 per diluted share, with adjusted EPS at $0.81 after excluding charges related to Trunk Club [35] - Gross profit margin increased by 65 basis points, primarily due to leverage on buying and occupancy costs, despite higher markdown rates on clearance products [36] - Ending inventory rose by 10%, compared to a 12% increase in sales [36] - EBIT margin was 5.1% for the second quarter, with an adjusted EBIT margin of 5.3% [38] Business Line Data and Key Metrics Changes - Nordstrom banner sales and gross merchandise value (GMV) grew by 15%, exceeding pre-pandemic levels, while Nordstrom Rack sales increased by 6% [36] - Digital sales also increased by 6%, representing 38% of total sales during the quarter [36] - Sales of occasion-based items, such as suiting and dresses, showed double-digit growth, with Shoes and Beauty categories also performing well [23] Market Data and Key Metrics Changes - Customer demand decelerated significantly in late June, particularly at Nordstrom Rack and among lower-income customer segments [7][11] - July sales in the Rack banner decelerated by 9 percentage points compared to the first two months of the quarter [11] - The top 100 brands at Nordstrom Rack saw a 17% increase in sales, indicating strong demand for premium brands [19] Company Strategy and Development Direction - The company is prioritizing actions to reduce inventory levels and improve performance in Nordstrom Rack while focusing on enhancing digital capabilities and customer service [14][16] - The "Closer to You" strategy aims to win in key markets by providing convenience and access to a strong product selection [15] - The company is adjusting its plans for the second half of the year to align expenses and inventory with current demand trends [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged uncertainty in consumer demand and the need to adapt to changing market conditions [20] - The company updated its 2022 financial outlook to reflect anticipated margin pressure and deceleration in customer demand [40] - Despite challenges, management remains confident in the company's ability to navigate the current environment and achieve long-term growth [47] Other Important Information - The company plans to invest in supply chain and technology capabilities while reducing leverage and returning cash to shareholders through dividends and stock repurchases [44][45] - The company expects to have a clean inventory position by the end of the year, despite markdown pressures in the second half [29][46] Q&A Session Summary Question: Commentary on Rack price points and demand stabilization - Management indicated a shift away from lower price offerings at Rack to focus on premium brands, with no significant evidence of demand stabilization in late July [51][53] Question: Satisfaction with the Anniversary Sale and private label performance - The Anniversary Sale saw a 5% increase in sales, but private label products underperformed, prompting a reassessment of the strategy [57][58] Question: Attribution of softening trends at Rack - Management attributed the softening trends primarily to macroeconomic pressures affecting lower-income customer segments [63][65] Question: Brand mix at Rack and inventory management - The share of premium brands in Rack's inventory has been increasing, with plans to continue improving the brand mix while managing clearance inventory [71][73] Question: Third quarter guidance and promotional environment - The company anticipates a mid-single-digit decline in revenue for the third quarter, with expectations of a more competitive promotional environment in the second half [75][78] Question: Trade down evidence and channel performance - Management has not observed significant trade down behavior, with customers showing a preference for newness over clearance items [80][83] Question: Slowdown in designer categories - The slowdown in designer sales was noted, particularly in lower-priced items, with management preparing for potential promotional activity if trends do not improve [87][89]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to___________ Commission File Number: 001-15059 Nordstrom, Inc. (Exact name of registrant as specified in its charter) (State or ...

Nordstrom, Inc. (NYSE:JWN) Q1 2022 Earnings Conference Call May 24, 2022 4:45 PM ET Company Participants Heather Hollander - Head of Investor Relations Erik Nordstrom - Chief Executive Officer Pete Nordstrom - President & Chief Brand Officer Anne Bramman - Chief Financial Officer Conference Call Participants Omar Saad - Evercore ISI Chuck Grom - Gordon Haskett Simeon Siegel - BMO Capital Markets Michael Binetti - Credit Suisse Jay Sole - UBS Tracy Kogan - Citigroup Carla Casella - JPMorgan Operator Greeting ...

Q1 2022 EARNINGS CALL NORDSTROM FORWARD-LOOKING STATEMENTS This presentation contains statements that are forward looking. These statements are based upon current expectations and assumptions that are subject to risks and uncertainties. We may not achieve the results projected in these forward-looking statements, and our actual results could materially differ because of factors discussed in this event, in the comments made during this presentation, and in the risk factors section of our Form 10-K, Form 10-Q ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 29, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to___________ Commission file number 001-15059 Nordstrom, Inc. (Exact name of registrant as specified in its charter) Washington 91-05 ...

Q4 2021 EARNINGS CALL NORDSTROM FORWARD-LOOKING STATEMENTS This presentation contains statements that are forward looking. These statements are based upon current expectations and assumptions that are subject to risks and uncertainties. We may not achieve the results projected in these forward-looking statements, and our actual results could materially differ because of factors discussed in this event, in the comments made during this presentation, and in the risk factors section of our Form 10-K, Form 10-Q ...

Financial Data and Key Metrics Changes - In Q4 2021, net sales increased by 23% compared to Q4 2020 but decreased by 1% compared to Q4 2019. Total revenue for the year was up 38%, aligning with guidance [49][50][52] - The EBIT margin for Q4 was 6.8%, an improvement of 10 basis points, while the annual EBIT margin was 3.4%, towards the high end of guidance [54][60] - Gross profit as a percentage of net sales increased by 340 basis points due to improved promotional effectiveness and fewer markdowns [52] Business Line Data and Key Metrics Changes - Nordstrom Rack sales declined by 5% in Q4, but this represented a sequential improvement of 320 basis points over Q3 [51] - Digital sales grew by 23% in Q4 compared to Q4 2019, with mobile users accounting for approximately 70% of total digital traffic [26][51] - Luxury categories, including Designer and Fine Jewelry, posted strong double-digit growth over 2019, while pandemic-related categories like Home and Active saw sales increases of 52% and 22%, respectively [31][32] Market Data and Key Metrics Changes - The Southern U.S. stores outperformed Northern U.S. stores by approximately 7 percentage points, with suburban locations outperforming urban locations by 10 percentage points [17][76] - The company noted significant geographic performance disparities, with urban areas still recovering from pandemic impacts [17][76] Company Strategy and Development Direction - The company is focused on improving Nordstrom Rack performance, increasing profitability, and optimizing supply chain and inventory flow [7][27] - Strategic initiatives include enhancing omnichannel capabilities, expanding the Nordstrom Media Network, and increasing brand partnerships [42][44] - The company aims to achieve financial targets set during the 2021 Investor Event while building capabilities for profitable market share growth [28][60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about consumer spending in 2022, driven by wage growth and higher employment levels, while acknowledging potential inflationary headwinds [55][56] - The company is prepared for potential pandemic-related disruptions but sees encouraging signs of a return to normal activities [56][57] - Management is confident in the strategic plans and business outlook for 2022, expecting revenue growth of 5% to 7% [59][64] Other Important Information - The company plans to invest in business capabilities, reduce leverage, and resume cash returns to shareholders, including a potential quarterly dividend [61][63] - Ending inventory increased by 19%, with plans to reduce the sales-to-inventory spread by half by the end of Q1 2022 [52][39] Q&A Session Summary Question: Guidance and Acceleration in 2022 - Management indicated that guidance for 2022 is based on improved performance at Nordstrom Rack and steady growth at Nordstrom, leveraging market strategy and merchandising advancements [72][73] Question: Digital Footprint and Advertising Services - Management noted that the Nordstrom Media Services platform is expected to grow, leveraging digital traffic to monetize site visits [81][83] Question: Rack Division Pricing Architecture - Management discussed the opportunity to balance pricing strategies without compromising existing customer value, emphasizing ongoing improvements in the Rack business [87][89] Question: EBIT Margin Guidance - Management explained that EBIT margin improvements will come from topline growth and expense leverage, with expectations for steady growth in both Nordstrom and Rack divisions [122][123] Question: SG&A Dollar Growth Expectations - Management provided context on SG&A growth, focusing on efficiencies in merchandise margins and supply chain productivity to offset inflationary pressures [124]