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Table of Contents
Nordstrom, Inc. and subsidiaries 1
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 31, 2015
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 91-0515058
(State or other jurisdiction of
incorporation or organization) (I.R.S. Employer
Identification No.)
1617 Sixth Avenue, Seattle, Washington 98101
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 206-628-2111
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Name of each exchange on which registered
Common stock, without par value New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES NO
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YES NO
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days. YES NO
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data
File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period
that the registrant was required to submit and post such files). YES NO
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be
contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form
10-K or any amendment to this Form 10-K.
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange
Act.
Large accelerated filer Accelerated filer
Non-accelerated filer (Do not check if a smaller reporting company) Smaller reporting company
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YES NO
As of August 1, 2014 the aggregate market value of the Registrant’s voting and non-voting stock held by non-affiliates of the Registrant was
approximately $10.6 billion using the closing sales price on that day of $68.95. On March 2, 2015, 190,405,729 shares of common stock
were outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the Proxy Statement for the 2015 Annual Meeting of Shareholders scheduled to be held on May 5, 2015 are incorporated into
Part III.

Table of contents

  • Page 1
    ... of August 1, 2014 the aggregate market value of the Registrant's voting and non-voting stock held by non-affiliates of the Registrant was approximately $10.6 billion using the closing sales price on that day of $68.95. On March 2, 2015, 190,405,729 shares of common stock were outstanding. DOCUMENTS...

  • Page 2
    [This page intentionally left blank.]

  • Page 3
    ... Equity Securities. Selected Financial Data. Management's Discussion and Analysis of Financial Condition and Results of Operations. Quantitative and Qualitative Disclosures About Market Risk. Financial Statements and Supplementary Data. Changes in and Disagreements With Accountants on Accounting and...

  • Page 4
    ... returns from these sites by mail or at any Nordstrom Rack location. Our Credit segment includes our wholly owned federal savings bank, Nordstrom fsb, through which we provide a private label credit card, two Nordstrom Visa credit cards and a debit card. The credit and debit cards feature a loyalty...

  • Page 5
    ..., anticipated annual total and comparable sales rates, anticipated new store openings in existing, new and international markets, anticipated Return on Invested Capital and trends in our operations. Such statements are based upon the current beliefs and expectations of the company's management and...

  • Page 6
    ... events through our website. CORPORATE GOVERNANCE We have a long-standing commitment to upholding a high level of ethical standards. In addition, as the listing standards of the New York Stock Exchange ("NYSE") and the rules of the SEC require, we have adopted Codes of Business Conduct and Ethics...

  • Page 7
    ... our plan to accelerate the number of new Nordstrom Rack store openings. New store openings both at the Rack and in our full-line stores involve certain risks, including the availability of suitable locations, constructing, furnishing and supplying a store in a timely and cost-effective manner...

  • Page 8
    ... the key areas of price and value, fashion newness, quality of products, depth of selection, convenience, fulfillment, service and the shopping experience, including the online and store environment and store location. Our financial model is changing to match customer shopping preferences, but if we...

  • Page 9
    ... and market conditions could impair our credit card revenues and the profitability of our credit card business due to factors such as lower demand for credit, or could impair ability to assess the creditworthiness of our customers if the criteria and/or models we use to underwrite and manage our...

  • Page 10
    ... of year Stores opened Stores acquired Stores closed Number of stores, end of year Nordstrom full-line stores - U.S. Nordstrom Rack Other1 1 Other 2014 260 31 4 (3) 292 116 167 9 2013 240 22 - (2) 260 117 140 3 2012 225 16 - (1) 240 117 119 4 includes Jeffrey boutiques, Trunk Club showrooms...

  • Page 11
    ...,061 includes one Nordstrom Canada full-line store, five Trunk Club showrooms, one Last Chance clearance store and two Jeffrey boutiques. Texas and Florida had the highest square footage, with a combined 10,692 square feet, representing 40% of the total company square footage. Nordstrom, Inc. and...

  • Page 12
    ...of Contents Item 3. Legal Proceedings. We are subject from time to time to various claims and lawsuits arising in the ordinary course of business, including lawsuits alleging violations of state and/or federal wage and hour and other employment laws, privacy and other consumer-based claims. Some of...

  • Page 13
    ... shareholders and the number of employee shareholders in the Nordstrom 401(k) Plan and Profit Sharing Plan. On this date we had 190,405,729 shares of common stock outstanding. The high and low prices of our common stock and dividends declared for each quarter of 2014 and 2013 are presented in...

  • Page 14
    ... the cumulative total return of Nordstrom common stock, Standard & Poor's Retail Index ("S&P Retail") and Standard & Poor's 500 Index ("S&P 500") for each of the last five fiscal years, ending January 31, 2015. The Retail Index is composed of 31 retail companies, including Nordstrom, representing an...

  • Page 15
    ... Rack stores, Jeffrey boutiques, our Canada full-line store, Last Chance and Trunk Club showrooms divided by their weighted-average square footage. 5 Ending inventory includes pack and hold inventory of $222, $173, $125, $34 and $0 in 2014, 2013, 2012, 2011 and 2010, which represents strategic...

  • Page 16
    ... Financial Condition and Results of Operations. Dollar, share and square footage amounts in millions except percentages, per share and per square foot amounts OVERVIEW Nordstrom is a leading fashion specialty retailer offering apparel, shoes, cosmetics and accessories for women, men and children. We...

  • Page 17
    ... reportable segments are Retail and Credit. Our Retail segment includes our U.S. Nordstrom branded full-line stores and online store, Nordstrom Rack stores, Nordstromrack.com and HauteLook and other retail channels, including Trunk Club, Jeffrey, our Canada store and our Last Chance clearance store...

  • Page 18
    ... and HauteLook Total company Sales per square foot3: Total sales per square foot 4-wall sales per square foot Full-line sales per square foot - U.S. Nordstrom Rack sales per square foot Percentage of net sales by merchandise category: Women's Apparel Shoes Men's Apparel Women's Accessories Cosmetics...

  • Page 19
    ... selection and ongoing technology investments to enhance the customer experience. Nordstrom Rack net sales were $2,738, up 12.0% compared with 2012, primarily due to 37 new store openings in 2012 and 2013. Comparable sales increased 2.7% for the year. Cosmetics and Shoes were the strongest...

  • Page 20
    ...Rewards customer loyalty program and higher occupancy costs related to Nordstrom Rack's accelerated store expansion. Retail gross profit increased $99 in 2013 compared with 2012 due to an increase in net sales at Nordstrom.com and Nordstrom Rack, which was partially offset by a decrease in full-line...

  • Page 21
    ...be redeemed for goods or services at Nordstrom full-line stores in the U.S. and Canada, Nordstrom Rack stores and at Nordstrom.com. Nordstrom Rewards customers receive reimbursements for alterations, get Personal Triple Points days and have early access to sales events. With increased spending, they...

  • Page 22
    ... and fees. Credit Card Revenues (2014 vs. 2013) Credit card revenues increased $22 in 2014 compared with 2013 primarily due to an increase in the average accounts receivable balance, slightly decreased payment rates and a 6.5% increase in total volume during 2014. Credit Card Revenues (2013 vs. 2012...

  • Page 23
    ... 3: Accounts Receivable in Item 8: Financial Statements and Supplementary Data for additional information. Intercompany Merchant Fees Intercompany merchant fees represent the estimated costs that would be incurred if our cardholders used third-party cards in our Nordstrom stores and online. In 2014...

  • Page 24
    ... The increase in the effective tax rate for 2013 compared with 2012 was primarily due to changes in our estimated state tax reserves. Fourth Quarter Results The following are our results for the fourth quarters of 2014 and 2013: Quarter ended Net sales Credit card revenues Gross profit1 Gross profit...

  • Page 25
    ..., or 17%, reflecting 27 new Nordstrom Rack store openings since the fourth quarter of 2013, while comparable sales increased 3.2%. On a comparable basis, the average selling price of Nordstrom Rack merchandise increased while the number of items sold was flat. Shoes and Accessories were the category...

  • Page 26
    ... for a capital lease or we had purchased the property. Asset base is calculated as described in footnote 5 below. 2 Based upon our effective tax rate multiplied by the net operating profit for the 12 fiscal months ended January 31, 2015, February 1, 2014, February 2, 2013, January 28, 2012 and...

  • Page 27
    ...with one Nordstrom full-line store and two Nordstrom Rack relocations in 2013 and three Nordstrom Rack relocations in 2012. Our 2014 new store openings increased our square footage by 5.5%. To date in 2015, we have opened our second full-line store in Canada. We plan to open 27 Nordstrom Rack stores...

  • Page 28
    ... over the previous five years. We plan to spend approximately $1,200 in 2015 compared with $751 in 2014. Both of these increases are primarily due to our continued expansion into new markets such as Canada, Puerto Rico and Manhattan, investment in new Nordstrom Rack and full-line stores and remodels...

  • Page 29
    ... our common stock for an aggregate purchase price of $595 and had $1,075 remaining in share repurchase capacity as of January 31, 2015. The actual number and timing of future share repurchases, if any, will be subject to market and economic conditions and applicable SEC rules. Dividends In 2014, we...

  • Page 30
    ... international payments. As of January 31, 2015, we have $8 available under a trade letter of credit, with $1 outstanding, and $15 available under the standby letter of credit, with $7 outstanding at the end of the year. Plans for our Manhattan full-line store, which we currently expect to open...

  • Page 31
    ... multiplied by eight. The multiple of eight times rent expense is a commonly used method of estimating the debt we would record for our leases that are classified as operating if they had met the criteria for a capital lease or we had purchased the property. Nordstrom, Inc. and subsidiaries 31

  • Page 32
    ..., was $14 in 2014, 2013 and 2012. Purchase obligations primarily consist of purchase orders for unreceived goods or services and capital expenditure commitments, including our Manhattan store. Other long-term liabilities consist of workers' compensation and general liability insurance reserves and...

  • Page 33
    ..., economic conditions, changes to the business model or changes in operating performance. For Nordstrom.com, Jeffrey and HauteLook, the fair values substantially exceeded carrying values and therefore we had no goodwill impairment in 2014, 2013 or 2012. The fair value of Trunk Club's reporting unit...

  • Page 34
    ... taxes, tax reserves or income tax expense. Such adjustments did not materially impact our effective income tax rate in 2014 or 2013. RECENT ACCOUNTING PRONOUNCEMENTS See Note 1: Nature of Operations and Summary of Significant Accounting Policies in the Notes to Consolidated Financial Statements...

  • Page 35
    ... plans to open five additional full-line stores in Canada over the next few years. The functional currency of our Canadian operations is the Canadian Dollar. We translate assets and liabilities into U.S. Dollars using the exchange rate in effect at the balance sheet date, while we translate revenues...

  • Page 36
    ...Data. REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors and Shareholders of Nordstrom, Inc. Seattle, Washington We have audited the accompanying consolidated balance sheets of Nordstrom, Inc. and subsidiaries (the "Company") as of January 31, 2015 and February 1, 2014...

  • Page 37
    Table of Contents Nordstrom, Inc. Consolidated Statements of Earnings In millions except per share amounts Fiscal year Net sales Credit card revenues Total revenues Cost of sales and related buying and occupancy costs Selling, general and administrative expenses Earnings before interest and income ...

  • Page 38
    ... liabilities Long-term debt, net Deferred property incentives, net Other liabilities Commitments and contingencies Shareholders' equity: Common stock, no par value: 1,000 shares authorized; 190.1 and 191.2 shares issued and outstanding Retained earnings Accumulated other comprehensive loss Total...

  • Page 39
    ... February 1, 2014 Net earnings Other comprehensive loss Dividends ($1.32 per share) Issuance of common stock for Trunk Club acquisition Issuance of common stock under stock compensation plans Stock-based compensation Repurchase of common stock Balance at January 31, 2015 Common Stock Shares Amount...

  • Page 40
    ... of deferred property incentives and other, net Deferred income taxes, net Stock-based compensation expense Tax benefit from stock-based compensation Excess tax benefit from stock-based compensation Bad debt expense Change in operating assets and liabilities: Accounts receivable Merchandise...

  • Page 41
    ... POLICIES The Company Founded in 1901 as a shoe store in Seattle, Washington, Nordstrom, Inc. is now a leading fashion specialty retailer that offers customers a well-edited selection of high-quality fashion brands focused on apparel, shoes, cosmetics and accessories for men, women and children...

  • Page 42
    ...be redeemed for goods or services at Nordstrom full-line stores in the U.S. and Canada, Nordstrom Rack stores and at Nordstrom.com. Nordstrom Rewards customers receive reimbursements for alterations, get Personal Triple Points days and have early access to sales events. With increased spending, they...

  • Page 43
    ... recognize stock-based compensation expense for performance share units and our Employee Stock Purchase Plan, which are based on their fair values as of the end of each reporting period. New Store Opening Costs Non-capital expenditures associated with opening new stores, including marketing expenses...

  • Page 44
    ... received. Non-accrual accounts may return to accrual status when we receive three consecutive minimum payments or the equivalent lump sum. Our Nordstrom private label credit and debit cards can be used only at our Nordstrom full-line stores in the U.S., Nordstrom Rack stores and online at Nordstrom...

  • Page 45
    ... plans to open five additional full-line stores in Canada over the next few years. The functional currency of our Canadian operations is the Canadian Dollar. We translate assets and liabilities into U.S. Dollars using the exchange rate in effect at the balance sheet date, while we translate revenues...

  • Page 46
    ... Stock Awards - Trunk Club employees received Nordstrom stock awards in exchange for previously held Trunk Club awards and stock. Stock awards are discussed in further detail within Note 13: Stock-Based Compensation. • Long-term Incentive Plan - A long-term incentive plan (the "Value Creation Plan...

  • Page 47
    ... as compensation expense as the related service is performed over the respective employee vesting periods of up to four years after the acquisition date. Of the purchase price consideration, $9 is attributable to an adjustment holdback settled primarily in Nordstrom stock in the fourth quarter of...

  • Page 48
    ...for credit losses is as follows: Fiscal year Allowance at beginning of year Bad debt expense Write-offs Recoveries Allowance at end of year 2014 $80 41 (70) 24 $75 2013 $85 52 (80) 23 $80 2012 $115 42 (97) 25 $85 Under certain circumstances, we may make modifications to payment terms for a customer...

  • Page 49
    ... Financial Statements Dollar and share amounts in millions except per share, per option and per unit amounts Credit Quality The primary indicators of the credit quality of our credit card receivables are aging and delinquency, particularly the levels of account balances delinquent 30 days or...

  • Page 50
    ... Financial Statements Dollar and share amounts in millions except per share, per option and per unit amounts NOTE 5: SELF-INSURANCE Our self-insurance reserves are summarized as follows: January 31, 2015 Workers' compensation Employee health and welfare General liability Total self-insurance...

  • Page 51
    ... 2015 Change in benefit obligation: Benefit obligation at beginning of year Participant service cost Interest cost Benefits paid Actuarial loss (gain) Plan amendment Benefit obligation at end of year Change in plan assets: Fair value of plan assets at beginning of year Employer contribution Benefits...

  • Page 52
    ... above and including benefits attributable to estimated future employee service are as follows: Fiscal year 2015 2016 2017 2018 2019 2020 - 2024 $8 9 9 9 10 59 NOTE 8: DEBT AND CREDIT FACILITIES Debt A summary of our long-term debt is as follows: January 31, 2015 Secured Series 2011-1 Class A Notes...

  • Page 53
    ... on long-term debt and short-term borrowings Less: Interest income Capitalized interest Interest expense, net (1) (17) $138 (1) (14) $161 (2) (5) $160 2014 $156 2013 $176 2012 $167 Credit Facilities As of January 31, 2015, we had total short-term borrowing capacity available for general corporate...

  • Page 54
    ... leases are classified as operating leases and they expire at various dates through 2080. The majority of our fixed, non-cancelable lease terms are 15 to 30 years for Nordstrom full-line stores and 10 to 15 years for Nordstrom Rack stores. Many of our leases include options that allow us to extend...

  • Page 55
    ... Financial Statements Dollar and share amounts in millions except per share, per option and per unit amounts Rent expense for 2014, 2013 and 2012 was as follows: Fiscal year Minimum rent: Store locations Offices, warehouses and equipment Percentage rent Property incentives Total rent expense...

  • Page 56
    ... Stock Incentive Plan. Additionally, as part of our acquisitions of HauteLook in 2011 and Trunk Club in 2014, we replaced and/or granted awards from shares available that were not allocated to a specific plan, as well as created an additional long-term incentive plan for certain Trunk Club employees...

  • Page 57
    ... value per option at the grant date was $16, $14 and $15 in 2014, 2013 and 2012. In 2014, 2013 and 2012, stock option awards to employees were approved by the Compensation Committee of our Board of Directors and their exercise price was set at $61, $54 and $53, the closing price of our common stock...

  • Page 58
    ... Nordstrom, Inc. Notes to Consolidated Financial Statements Dollar and share amounts in millions except per share, per option and per unit amounts A summary of restricted stock unit activity (excluding Trunk Club) for 2014 is presented below: Fiscal year 2014 Weighted-average grant date fair value...

  • Page 59
    ...with a corresponding adjustment to earnings, at each fiscal quarter-end during the performance cycle. The performance share unit liability is remeasured using the estimated percentage of units earned multiplied by the closing market price of our common stock on the current period-end date and is pro...

  • Page 60
    ... an increase in our effective tax rate in 2014. The major components of deferred tax assets and liabilities are as follows: January 31, 2015 Compensation and benefits accruals Allowance for sales returns Accrued expenses Allowance for credit losses Merchandise inventories Gift cards Gain on sale of...

  • Page 61
    ...February 1, 2014, our federal, state and foreign net operating loss carryforwards for income tax purposes were approximately $4, $24 and $0, respectively. The state net operating loss carryforwards are subject to certain statutory limitations of the Internal Revenue Code and applicable state law. If...

  • Page 62
    ..., HauteLook, Jeffrey, Trunk Club and our Canadian operations in the Retail reporting segment. Through our Credit segment, we provide our customers with a variety of payment products and services, including a Nordstrom private label card, two Nordstrom Visa credit cards and a debit card for Nordstrom...

  • Page 63
    ...of Contents Nordstrom, Inc. Notes to Consolidated Financial Statements Dollar and share amounts in millions except per share, per option and per unit amounts The following table sets forth information for our reportable segments: Retail Fiscal year 2014 Net sales Credit card revenues Earnings (loss...

  • Page 64
    ...retail includes our Jeffrey boutiques, Trunk Club and our Nordstrom Canada full-line store. The following table summarizes net sales by merchandise category: Fiscal year Women's Apparel Shoes Men's Apparel Women's Accessories Cosmetics Kids' Apparel Other Total net sales 2014 Net sales $3,950 3,038...

  • Page 65
    ...and share amounts in millions except per share, per option and per unit amounts NOTE 17: SELECTED QUARTERLY DATA1 (UNAUDITED) 1st Quarter Fiscal year 2014 Net sales Comparable sales increase2 Credit card revenues Gross profit3 Selling, general and administrative expenses Earnings before income taxes...

  • Page 66
    ..., management concluded that the Company's internal control over financial reporting was effective as of January 31, 2015. Deloitte & Touche LLP, an independent registered public accounting firm, is retained to audit Nordstrom's consolidated financial statements and the effectiveness of the Company...

  • Page 67
    ... Board (United States), the consolidated financial statements as of and for the year ended January 31, 2015 of the Company and our report dated March 16, 2015 expressed an unqualified opinion on those financial statements. /s/ Deloitte & Touche LLP Seattle, Washington March 16, 2015 Nordstrom, Inc...

  • Page 68
    ...within 120 days after the end of our fiscal year: Election of Directors Certain Relationships and Related Transactions Item 14. Principal Accounting Fees and Services. The information required under this item is included in the following section of our Proxy Statement for our 2015 Annual Meeting of...

  • Page 69
    ... Statement Schedules. The following information required under this item is filed as part of this report: (a)1. FINANCIAL STATEMENTS Report of Independent Registered Public Accounting Firm Consolidated Statements of Earnings Consolidated Statements of Comprehensive Earnings Consolidated Balance...

  • Page 70
    ...Koppel Executive Vice President and Chief Financial Officer (Principal Financial Officer) Date: March 16, 2015 Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the...

  • Page 71
    ... statements of Nordstrom, Inc. and subsidiaries, and the effectiveness of Nordstrom, Inc. and subsidiaries' internal control over financial reporting, appearing in the Annual Report on Form 10-K of Nordstrom, Inc. for the year ended January 31, 2015. /s/ Deloitte & Touche LLP Seattle, Washington...

  • Page 72
    ... December 3, 2007, between the Company and Wells Fargo Bank, National Association Note Purchase Agreement, dated as of November 16, 2011, by and between Nordstrom Credit Card Receivables II LLC, Nordstrom fsb, Nordstrom Credit, Inc., RBS Securities Inc. and J.P. Morgan Securities LLC Form of 6.25...

  • Page 73
    ... Amendment 2010-2 to the Nordstrom Executive Deferred Compensation Plan (2007 Restatement) Amendment 2015-1 to the Nordstrom Executive Deferred Compensation Plan (2014 Restatement) Method of Filing Incorporated by reference from the Registrant's Form 10-Q for the quarter ended May 1, 2010, Exhibit...

  • Page 74
    ...10.29* Exhibit Amendment 2013-1 to the Nordstrom Executive Compensation Plan (2007 Restatement) Nordstrom, Inc. Employee Stock Purchase Plan, amended and restated on August 27, 2008 Nordstrom, Inc. Employee Stock Purchase Plan (2011 Restatement) 1997 Nordstrom Stock Option Plan, amended and restated...

  • Page 75
    ...* Exhibit Form of 2011 Stock Option Award Agreement Form of 2012 Nonqualified Stock Option Grant Agreement Form of 2013 Nonqualified Stock Option Grant Agreement Form of the 2015 Nonqualified Stock Option Grant Agreement Nordstrom, Inc. Leadership Separation Plan (Effective March 1, 2005) Amendment...

  • Page 76
    ... Stock Incentive Plan Form of 2012 Restricted Stock Unit Agreement Form of 2013 Restricted Stock Unit Award Agreement Form of 2014 Restricted Stock Unit Award Agreement Form of the 2015 Restricted Stock Unit Award Agreement Commitment of Nordstrom, Inc. to Nordstrom fsb dated June 17, 2004 Nordstrom...

  • Page 77
    ...17, 2013 relating to the expiration of the early participation period Press release dated January 2, 2014 relating to the closing of the private exchange offer Press release dated September 4, 2014 announcing that its Board of Directors authorized a $1,000 million share repurchase program Method of...

  • Page 78
    ...Nordstrom, Inc. and Subsidiaries Exhibit Index 21.1 23.1 31.1 31.2 32.1 Exhibit Significant subsidiaries of the Registrant Consent of Independent Registered Public Accounting...XBRL Instance Document Method of Filing Filed herewith electronically Filed as page 71 of this report Filed herewith ...