Nordstrom May sales increase 12 percent |
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| Wednesday, 11 June 2008 | |
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Nordstrom, Inc. reported preliminary sales of $716 million for the four-week period ended May 31, 2008, an increase of 12.2 percent
compared to sales of $638 million for the four-week period ended June 2, 2007. Same-store sales increased 10.9 percent which was positively impacted by the earlier start date of the Half-Yearly Sale for Women and Kids.
The company expected May same-store sales to be 8 to 12 percent, or 1500 to 1700 basis points above the quarterly plan of -5 to -7 percent. June same- store sales are expected to be -18 to -22 percent, or 1300 to 1500 basis points below the quarterly plan. Combining the results of May and June will provide a more comparable view of the company's results versus last year. July sales are anticipated to be consistent with the second quarter plan. Preliminary year-to-date sales of $2.59 billion were approximately flat compared to sales for the same period in 2007. Year-to-date same-store sales decreased 2.2 percent. Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 159 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 105 full-line stores, 50 Nordstrom Racks, two Jeffrey boutiques, and two clearance stores. In addition, Nordstrom serves customers through its online presence at www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN |
