Nordstrom Inc. (JWN) Earnings Miss Selling Short After Hours

Date: 5/12/2011

Nordstrom Inc. (JWN) Earnings Miss Selling Short After Hours Trading Video

Nordstrom, Inc. (NYSE:JWN - News) announced today that its board of directors has authorized a repurchase program of up to $750 million of the Company's outstanding common stock, through February 2, 2013.

The shares are expected to be acquired through open market transactions. The Company 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 the Company's existing repurchase program that was approved by the board in August 2010. The existing repurchase program has $235 million outstanding, as of April 30, 2011, and will expire on January 28, 2012.

Nordstrom also announced today that its board of directors has approved a quarterly dividend of 23 cents per share payable on June 15, 2011, to shareholders of record on May 31, 2011.

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