UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) May 5, 2005
NORDSTROM, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
WASHINGTON 001-15059 91-0515058
(STATE OR OTHER JURISDICTION (COMMISSION FILE (I.R.S. EMPLOYER
OF INCORPORATION) NUMBER) 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
INAPPLICABLE
(FORMER NAME OR FORMER ADDRESS IF CHANGED SINCE LAST REPORT)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of
the following provisions (see General Instruction A.2 below):
___ Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
___ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
___ Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
___ Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
The Compensation Committee of the Board of Directors of Nordstrom, Inc. (the
"Compensation Committee") recently approved bonus goals, performance levels
and award levels that may be earned during the fiscal year ending January 28,
2006 ("Fiscal Year 2005") under the Company's shareholder approved Executive
Management Group Bonus Plan (the "Plan").
Under the Plan, bonus awards are paid only when performance goals are
achieved. The bonus target and maximum payments are expressed as a
percentage of base salary and the bonus goals vary by position depending on
each participant's area of responsibility and influence.
Fiscal Year 2005 bonus arrangements for the Company's Named Executive
Officers were approved by the Compensation Committee as follows:
Named Bonus Target Bonus Maximum Bonus
Executive as a % of as a % of Bonus Measure
Officer Base Salary Base Salary Measures Weighting
--------------------------------------------------------------------------------------
Blake W. Nordstrom 100% 250.0% -Earnings before taxes/ 100.0%
President Return on invested capital
Peter E. Nordstrom 125% 312.5% -Earnings before taxes/ 75.0%
Executive Vice Return on invested capital
President -Full-Line Stores net income 25.0%
Erik B. Nordstrom 125% 312.5% -Earnings before taxes/ 75.0%
Executive Vice Return on invested capital
President -Full-Line Stores net income 25.0%
Michael G. Koppel 60% 150.0% -Earnings before taxes/ 75.0%
Executive Vice Return on invested capital
President -Planning & budget initiative 12.5%
-Expense initiative 12.5%
James O'Neal 60% 150.0% -Earnings before taxes 75.0%
Executive Vice -Nordstrom Product Group gross 15.0%
President margin return on investment
-Nordstrom Product Group 10.0%
total expenses
ITEM 7.01 REGULATION FD DISCLOSURE
On May 5, 2005, Nordstrom, Inc. issued a press release announcing
its preliminary April 2005 sales. A copy of this press release is attached as
Exhibit 99.1.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
NORDSTROM, INC.
By: /s/ Michael G. Koppel
-----------------------
Michael G. Koppel
Executive Vice President and
Chief Financial Officer
Dated: May 5, 2005
EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
99.1 Nordstrom April 2005 Preliminary Sales Release, dated
May 5, 2005.