secwatch.observer — SEC 8-K summary
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Issuer:     NORDSTROM INC (—)
CIK:        0000072333
Form:       8-K
Filed at:   2023-03-02T23:59:59+00:00
Accession:  0000072333-23-000013
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.02, 2.05, 2.06, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nordstrom to wind down Canadian operations, expects $300-350M Q1 charges; Q4 EPS $0.74
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- Canada wind-down: filed for CCAA protection; expects $300-350M pre-tax charges in Q1 2023, mostly non-cash.
- Q4 net earnings $119M, diluted EPS $0.74; net sales down 4.1% YoY to $4.2B.
- Full-year adjusted EBIT $502M (3.3% of sales), adjusted EPS $1.69; revenue up 5%.
- Quarterly dividend $0.19/share, payable March 29, record March 14; $438M remaining buyback capacity.
- Credit agreement amended to remove Canadian entities as loan parties; NCRI deconsolidated.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72333/000007233323000013/0000072333-23-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72333/000007233323000013/jwn-20230228.htm
  HTML page:      https://secwatch.observer/filing/0000072333-23-000013

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