Nordstrom authorizes $1 billion share repurchase program

Seattle – The board of directors of Nordstrom Inc. has authorized a repurchase program of up to $1 billion of the company’s outstanding common stock, through March 1, 2016. Nordstrom intends to fund the repurchase program from existing cash on hand.

The actual number and timing of share repurchases, if any, will be subject to market conditions and applicable Securities and Exchange Commission rules. This program is in addition to Nordstrom’s existing repurchase program that was approved by the board in February 2013. The existing repurchase program has $323 million outstanding as of Sept. 3, 2014, and will expire on March 1, 2015.

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