SEATTLE--(BUSINESS WIRE)--Aug. 14, 2009--
Nordstrom, Inc. (NYSE:JWN) announced today that it has completed a new
three-year $650 million senior unsecured revolving credit facility. The
new facility replaces a $650 million senior unsecured revolving credit
facility that was scheduled to mature in November 2010.
Effective today, the facility may be used for general corporate purposes
and is scheduled to mature in August 2012. At present, there are no
outstanding borrowings under the revolver.
The arrangement of the revolving credit facility was co-led by Banc of
America Securities LLC and Wells Fargo Securities, LLC.
ABOUT NORDSTROM
Nordstrom, Inc. is one of the nation's leading fashion specialty
retailers, with 175 stores located in 28 states. Founded in 1901 as a
shoe store in Seattle, today Nordstrom operates 111 full-line stores, 61
Nordstrom Racks, two Jeffrey boutiques, and one clearance store. In
addition, Nordstrom serves customers through its online presence at http://www.nordstrom.com
and through its catalogs. Nordstrom, Inc.’s common stock is publicly
traded on the NYSE under the symbol JWN.
Certain statements in this news release contain or may suggest
“forward-looking” information (as defined in the Private Securities
Litigation Reform Act of 1995), including the company’s planned store
openings and trends in company operations. Such statements are
based upon the current beliefs and expectations of the company’s
management and are subject to significant risks and uncertainties.
Actual future results and trends may differ materially from historical
results or current expectations depending upon factors including, but
not limited to the impact of deteriorating economic and market
conditions and the resultant impact on consumer spending patterns, the
company’s ability to respond to the business environment and fashion
trends, the company’s ability to safeguard its brand and reputation,
effective inventory management, efficient and proper allocation of the
company’s capital resources, successful execution of the
company’s store growth strategy including the timely completion of
construction associated with newly planned stores, relocations and
remodels, all of which may be impacted by the financial health of third
parties, the company’s compliance with applicable banking and related
laws and regulations impacting the company’s ability to extend credit to
its customers, trends in personal bankruptcies and bad debt write-offs,
availability and cost of credit, changes in interest rates, disruptions
in the company’s supply chain, the company’s ability to maintain its
relationship with vendors and developers who may be experiencing
economic difficulties, the geographic locations of the company’s stores,
the company’s ability to maintain its relationships with its employees
and to effectively train and develop its future leaders, the company’s
compliance with information security and privacy laws and regulations,
employment laws and regulations and other laws and regulations
applicable to the company, successful execution of the company’s
information technology strategy, successful execution of the company’s
multi-channel strategy, risks related to fluctuations in world
currencies, weather conditions and hazards of nature that affect
consumer traffic and consumers' purchasing patterns, the effectiveness
of planned advertising, marketing, and promotional campaigns, the
company’s ability to control costs, and the timing and amounts of share
repurchases by the company. For additional information regarding these
and other risk factors, please refer to the company’s SEC reports,
including its Form 10-K for the fiscal year ended January 31, 2009. The
company undertakes no obligation to update or revise any forward-looking
statements to reflect subsequent events, new information or future
circumstances.
Source: Nordstrom, Inc.
Nordstrom, Inc.
INVESTOR CONTACT:
Rob Campbell,
206-303-3290
MEDIA CONTACT:
Brooke White, 206-373-3030
