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Business Description
Nordstrom, Inc. is a specialty store that sells a wide selection of apparel, shoes and accessories for women, men and children. As of January 31, 2002, the Company operates 80 large specialty stores in Alaska, Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Michigan, Minnesota, New Jersey, New York, Ohio, Oregon, Pennsylvania, Rhode Island, Texas, Utah, Virginia and Washington. The Company also operates 45 stores under the name Nordstrom Rack and one clearance store under the name Last Chance. Nordstrom's also operates two freestanding shoe stores under the name Nordstrom located in Hawaii, and four specialty boutiques in California, New York and Texas under the name Façonnable.

Financial Information
Nordstrom sells apparel, shoes and accessories for women, men and children through specialty and clearance stores. The Company also operates a men's boutique, and a direct sales division. For the six months ended 7/31/02, sales rose 5% to $2.9 billion. Net income before acct. change fell 60% to $25.1 million. Results reflect additional sales from new store openings, offset by $53.2 million in charges related to the Nordstrom.com minority interest purchase and reintegration.