Nordstrom 2007 Annual Report Download - page 16

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8
ANTI-TAKEOVER PROVISIONS
We are incorporated in the state of Washington and subject to Washington state law. Some provisions of Washington state law could interfere with
or restrict takeover bids or other change-in-control events affecting us. For example, one statutory provision prohibits us, except under specified
circumstances, from engaging in any significant business transaction with any shareholder who owns 10% or more of our common stock (which
shareholder, under the statute, would be considered an “acquiring person”) for a period of five years following the time that such shareholder
became an acquiring person.
Item 1B. Unresolved Staff Comments.
None.
Item 2. Properties.
The following table summarizes the number of retail stores owned or leased by us, and the percentage of total store square footage represented
by each listed category at February 2, 2008:
Number of Stores
% of total store
square footage
Owned stores 33 25.7%
Owned on leased land 47 43.9%
Leased stores 74 28.9%
Partly owned and partly leased 2 1.5%
Total 156 100.0%
We also own six merchandise distribution centers located in Portland, Oregon; Dubuque, Iowa; Ontario, California; Newark, California; Upper Marlboro,
Maryland; and Gainesville, Florida, which are utilized by the Retail Stores segment. The Direct segment utilizes one fulfillment center in Cedar Rapids,
Iowa, which is owned on leased land. Our administrative offices in Seattle, Washington are a combination of leased and owned space. We also lease an
office building in the Denver, Colorado metropolitan area that serves as an office of Nordstrom fsb and Nordstrom Credit, Inc.