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Stock Market & Financial Investment News

News Breaks
June 1, 2014
20:14 EDTJWNNordstrom's emphasis on Rack should boost operating income, Barron's says
Nordstrom intends to have 230 Nordstrom Rack stores by 2016, which should boost operating income, Barron's contends in a follow up article. The company's new Rack website and mobile app should also boost sales, the paper adds. Reference Link
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September 4, 2014
09:01 EDTJWNNordstrom board authorizes $1B share repurchase program
Nordstrom announced that its board of directors has authorized a repurchase program of up to $1B of the company’s outstanding common stock, through March 1, 2016. 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 February 2013. The existing repurchase program has $323Mn outstanding as of September 3, 2014, and will expire on March 1, 2015.

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