Nordstrom 2003 Annual Report Download - page 26

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In December 2003, the FASB revised SFAS No. 132, "Employers' Disclosures
about Pensions and other Postretirement Benefits," establishing additional
annual disclosure requirements about plan assets, investment strategy,
measurement date, plan obligations and cash flows. The revised standard
also establishes interim disclosure requirements related to the benefit
cost recognized and contributions paid. Our adoption of the revised SFAS
No. 132 as of January 2004 did not have any impact on our results of
operation or financial condition.
Cautionary Statement
The preceding disclosures include forward-looking statements regarding
our performance, liquidity and adequacy of capital resources. These
statements are based on our current assumptions and expectations and
are subject to certain risks and uncertainties that could cause actual
results to differ materially from those projected. Forward-looking
statements are qualified by the risks and challenges posed by our ability
to predict fashion trends, consumer apparel buying patterns, our ability
to control costs, weather conditions, hazards of nature such as earthquakes
and floods, trends in personal bankruptcies and bad debt write-offs,
changes in interest rates, employee relations, our ability to continue our
expansion plans, and the impact of economic and competitive market
forces, including the impact of terrorist activity or the impact of a war on
us, our customers and the retail industry. As a result, while we believe
there is a reasonable basis for the forward-looking statements, you
should not place undue reliance on those statements. This discussion and
analysis should be read in conjunction with the consolidated financial
statements and the Eleven-Year Statistical Summary.
management’s discussion and analysis
NORDSTROM, INC. and SUBSIDIARIES
[24 ]