SEATTLE, Dec. 21, 2023 /PRNewswire/ -- Seattle-based fashion retailer Nordstrom, Inc. (NYSE: JWN) announced plans to open a new Nordstrom Rack in Houston, Texas in fall 2024. "We look forward to being a part of the Houston community and serving our customers with an amazing offering of great brands at great prices," said Gemma Lionello, President of Nordstrom Rack Stores. "We're excited to grow our footprint in the region and introduce new customers to the Nordstrom experience." Lionello added that in this ...

Financial Performance - Net sales for the quarter ended October 28, 2023, were $3,200 million, a decrease of 6.8% compared to $3,433 million for the same quarter in 2022[24]. - Total revenues for the nine months ended October 28, 2023, were $10,273 million, down 8.3% from $11,211 million for the same period in 2022[24]. - Net earnings for the quarter were $67 million, compared to a net loss of $20 million in the same quarter last year[27]. - Earnings per share (EPS) for the quarter was $0.41, compared to a loss per share of $0.13 in the prior year[24]. - Total net sales for the quarter ended October 28, 2023, were $3.2 billion, a decrease from $3.433 billion in the same quarter of the previous year[71]. - For the third quarter of 2023, the company reported net earnings of $67 million, or $0.41 per diluted share, compared to a loss of $20 million, or $0.13 loss per diluted share, in 2022[97]. - Diluted EPS for the third quarter of 2023 was $0.41, an improvement of $0.54 compared to a loss of $0.13 in the same period of 2022[123]. - Adjusted EPS for the third quarter of 2023 was $0.25, compared to $0.20 in the third quarter of 2022, after excluding adjustments from the wind-down of Canadian operations[97]. Inventory and Supply Chain - Merchandise inventories increased to $2,626 million as of October 28, 2023, from $2,878 million a year earlier, reflecting a decrease of 8.7%[29]. - Ending inventory levels were 9% lower than the third quarter of 2022, contributing to a 180 basis point expansion in gross profit as a rate of sales[101]. - Ending inventory as of October 28, 2023, decreased by 8.8% compared to the same period in 2022, reflecting strong inventory discipline[115]. - The company plans to continue focusing on optimizing its supply chain and managing inventory levels in response to market conditions[39]. - The company achieved a 50 basis point reduction in variable supply chain costs in the third quarter of 2023, following four consecutive quarters of reductions exceeding 100 basis points[102]. Financial Position and Liabilities - Total current liabilities rose to $3,709 million as of October 28, 2023, compared to $3,839 million a year earlier, a decrease of 3.4%[29]. - Cash and cash equivalents decreased to $375 million at the end of the period, down from $687 million at the beginning of the year[33]. - The total shareholders' equity as of October 28, 2023, was $729 million, an increase from $606 million a year earlier[29]. - The company had total short-term borrowing capacity of $800 million under the Revolver as of October 28, 2023, with no borrowings outstanding[142]. - Adjusted debt to EBITDAR is 3.1, with total adjusted debt at $4,496 million as of October 28, 2023[147]. - Net earnings for the four quarters ended October 28, 2023, were $119 million, resulting in a debt to net earnings ratio of 24.0[147]. Wind-Down of Nordstrom Canada - The company incurred $207 million in Canada wind-down costs during the nine months ended October 28, 2023[34]. - For the nine months ended October 28, 2023, Nordstrom recorded a pre-tax loss on Canada write-off of $174 million, including derecognition of Nordstrom Canada's assets and liabilities[59]. - Total pre-tax charges associated with the wind-down of Nordstrom Canada amounted to $284 million, with a gain on Canada write-off of $14 million for the quarter ended October 28, 2023[54]. - The wind-down of Nordstrom Canada has resulted in an estimated fair value of zero for related receivables as of April 29, 2023, with ongoing assessments of claims and recoverability[150]. - Nordstrom established an employee trust and contributed $11 million to fund termination and severance payments for employees of Nordstrom Canada[63]. Operational Highlights - The company opened 19 new stores and relocated one store year-to-date through December 1, 2023, with plans to open 17 more stores beyond 2023[100]. - The company opened 18 Nordstrom Rack stores and relocated one store during the nine months ended October 28, 2023[111]. - Digital sales accounted for 34% of total net sales for the quarter ended October 28, 2023, consistent with the same percentage in the prior year[71]. - Digital sales accounted for 34% of total net sales, with a decrease of 11% in the third quarter of 2023 compared to the same period in 2022[107]. - The retail segment EBIT for the third quarter of 2023 was $149 million, up from $119 million in the same quarter of 2022[92]. Cash Flow and Capital Expenditures - Free Cash Flow for the nine months ended October 28, 2023, was negative $231 million, compared to negative $64 million for the same period in 2022[141]. - Capital expenditures for the nine months ended October 28, 2023, were $375 million, representing 3.8% of net sales, compared to $325 million or 3.0% in the prior year[135]. - Dividends paid for the nine months ended October 28, 2023, were $92 million, compared to $90 million for the same period in 2022[138]. Risk and Compliance - There have been no material changes to the company's critical accounting estimates since the 2022 Annual Report, except for updates related to the Canada wind-down[149]. - The company continues to evaluate its internal controls and has concluded that its disclosure controls and procedures are effective as of the reporting date[160]. - Recent SEC rules regarding insider trading and share repurchase disclosures will be effective in the fourth quarter of 2023, but are not expected to materially impact operations[153][154]. - The company has not identified any current claims or litigation that would materially impact its financial position or cash flows[166]. - Interest rate risk and foreign currency exchange risk remain unchanged since the last report[157].

Nordstrom, Inc. (NYSE:JWN) Q3 2023 Earnings Conference Call November 11, 2023 4:45 PM ET Company Participants James Duies - Head of Investor Relations Erik Nordstrom - Chief Executive Officer Pete Nordstrom - President and Chief Brand Officer Cathy Smith - Chief Financial Officer Conference Call Participants Dana Telsey - Telsey Advisory Group Blake Anderson - Jefferies Michael Binetti - Evercore Oliver Chen - TD Cowen Matthew Boss - JPMorgan Brooke Roach - Goldman Sachs Operator Greetings and welcome to th ...

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 29, 2023 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 ...

Financial Data and Key Metrics - Q2 2023 earnings per share (EPS) was $0.84, up from $0.77 in the same period last year, despite $330 million fewer sales [42] - EBIT margin for Q2 was 5.3%, up 20 basis points year-over-year [46] - Inventory decreased by 18% compared to last year, with sales down 8%, indicating improved inventory productivity [45][71] - Supply chain costs fell by over 100 basis points for the fourth consecutive quarter, contributing to operational efficiencies [32][72] - Full-year revenue is expected to decline 4% to 6%, with a 2.5 percentage point negative impact from the wind-down of Canadian operations [47] Business Line Performance - Nordstrom Rack sales decreased 4% in Q2, improving sequentially from a 12% decline in Q1 [44] - Strategic brand penetration at Nordstrom Rack reached 65% of sales, with plans to maintain this level in the second half [30][40] - Digital sales accounted for over 60% of the Anniversary Sale, with 40% of digital sales enabled by stores [65] - Active footwear and beauty categories performed well, with Active footwear driven by brands like Hoka, On Running, and Nike [36] - Women's apparel improved sequentially but remained below average, while men's and kids' apparel performed better than average [36] Market Performance - Nordstrom banner sales and GMV decreased by 10% year-over-year, with sales improving sequentially from Q1 [43] - The Anniversary Sale saw a 5% decline in total event sales compared to last year, but strong sell-through improved inventory positioning [38] - Designer categories remain under pressure, with efforts to rightsize inventory ongoing [63] - Traffic trends were soft across both banners, but higher conversion and spend per customer offset some of the decline [108] Strategic Direction and Industry Competition - Nordstrom Rack is identified as a key growth vehicle, with plans to open 11 additional stores by the end of 2023 [58] - Digital channels are seen as a significant opportunity, leveraging physical assets to enhance customer experience [14] - Investments in AI and analytics are being made to improve operational efficiency and customer experience [17][18] - The company is focusing on inventory productivity, supply chain optimization, and improving Nordstrom Rack performance as key priorities [27][57] Management Commentary on Operating Environment and Outlook - Management remains confident in delivering the 2023 financial outlook despite economic uncertainty [29] - The company is navigating a cautious consumer environment, with potential headwinds from rising delinquencies in the credit card business [48][85] - Sequential improvement in sales trends is expected to continue through the second half of the year [78] - The 53rd week in fiscal 2023 is expected to add approximately $200 million in sales in Q4 [97] Other Important Information - The company declared a quarterly cash dividend of $0.19 per share [76] - Credit card revenues were up 10% in the first half of the year, but delinquencies are rising and could impact future credit losses [48][85] - The company is focused on reducing leverage and maintaining an investment-grade credit rating, targeting a leverage ratio below 2.5x [99] Q&A Session Summary Question: How should we think about the pace of full banners in the back half of the year? - Sequential improvement is expected to continue, with easier year-over-year comparisons in Q3 and Q4 [78][100] Question: Can you provide more detail on the drivers of Rack performance during the quarter? - Rack performance improved steadily, driven by strategic brand penetration and better inventory management [107][108] Question: What are your expectations for credit card losses in the back half of the year? - Delinquencies are rising and could lead to higher credit losses, though the portfolio remains resilient [85][111] Question: How is new store productivity ramping versus expectations? - New Rack stores are performing well, with returns exceeding the cost of capital [135] Question: What is the outlook for gross margin and shrink for the remainder of the year? - Gross margin is expected to improve in Q4 due to reduced markdowns, while shrink remains a concern but is within planned levels [118][138] Question: What is the path forward for e-commerce growth? - The company focuses on a seamless customer experience across channels, with digital sales impacted by operational changes and comparisons to last year [148] Question: What are the incremental opportunities to drive top-line improvement at Rack? - Strategic brand penetration and inventory agility are key drivers, with opportunities to invest in higher-performing brands [131][153]

1Excludes impact from Q2 22 costs from wind-down of Trunk Club. ²Excludes 275bps from wind-down of Canadian operations and ~200bps from timing shift of Anniversary Sale. One-of-a-kind event, with brand new merchandise sold at reduced prices, before going to full-price after the sale NORDSTROM Q2 2023 EARNINGS CALL 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 uncert ...

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 29, 2023 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 2023 Earnings Conference Call May 31, 2023 4:45 PM ET Company Participants Sara Penner - IR Erik Nordstrom - CEO Pete Nordstrom - President & Chief Brand Officer Michael Maher - Chief Accounting Officer Conference Call Participants Ed Yruma - Piper Sandler Ashley Helgans - Jefferies Chuck Grom - Gordon Haskett Brooke Roach - Goldman Sachs Group Noah Zatzkin - KeyBanc Matthew Boss - JPMorgan Dana Telsey - Telsey Advisory Group Alex Straton - Morgan Stanley Simeon Siegel - BMO Cap ...

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 Washington 91-0515058 State or other jurisdiction of incorporation or organization (I.R.S. Employer Identification No.) 1617 Sixth Avenue, Seattle, Washington 98101 For the fiscal year ended January 28, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the tran ...

Nordstrom Inc. (NYSE:JWN) Q4 2022 Results Conference Call March 2, 2023 4:45 PM ET Company Participants Sara Penner - Investor Relations Erik Nordstrom - Chief Executive Officer Pete Nordstrom - President & Chief Brand Officer Michael Maher - Chief Accounting Officer Conference Call Participants Brooke Roach - Goldman Sachs Group Matthew Boss - JPMorgan Noah Zatzkin - KeyBanc Blake Anderson - Jefferies Ed Yruma - Piper Sandler Oliver Chen - TD Cowen Operator Greetings, and welcome to the Nordstrom Fourth Qu ...