Nordstrom 2007 Annual Report Download - page 34

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26
During the first half of 2007 we repurchased 11 shares for $590 as part of the existing authorization from May 2006, including $300 repurchased as part
of an accelerated share repurchase program. In May 2007, we entered into an accelerated share repurchase agreement with Credit Suisse International
to repurchase shares of our common stock for an aggregate purchase price of $300. We purchased approximately five million four hundred thousand
shares of our common stock on May 23, 2007 at $55.17 per share. Under the terms of the agreement, we received approximately four hundred thousand
shares in June 2007 at no additional cost, based on the volume weighted average price of our common stock from June 1, 2007 to June 26, 2007. This
resulted in an average price per share of $51.69 for the accelerated share repurchase as a whole.
In August 2007, our Board of Directors authorized a $1,500 share repurchase program. In November 2007, our Board of Directors authorized an increase
of $1,000 to the share repurchase program. During the second half of 2007, we purchased 28 shares for $1,137 at an average price of $41.05, using the
remaining $1 on the May 2006 authorization and beginning to use the August and November 2007 authorizations. As of February 2, 2008 the unused
authorization was $1,364. Repurchases under the program may be made through the end of 2009. The actual amount and timing of future share
repurchases will be subject to market conditions and applicable SEC rules.