SEATTLE, Nov. 6 /PRNewswire-FirstCall/ -- Nordstrom, Inc. (NYSE: JWN)
today reported preliminary sales of $529 million for the four-week period
ended November 1, 2008, a decrease of 15.5 percent compared with sales of $626
million for the four-week period ended November 3, 2007. October same-store
sales decreased 15.7 percent, compared with the same period in 2007.
Preliminary third quarter sales of $1.80 billion decreased 8.4 percent
compared with sales of $1.97 billion during the same period in 2007. Third
quarter same-store sales decreased 11.1 percent, compared with the same period
in 2007.
Preliminary year-to-date sales of $5.97 billion decreased 5.4 percent
compared with sales of $6.31 billion for the same period in 2007.
Year-to-date same-store sales decreased 7.7 percent, compared with the same
period in 2007.
The economic and competitive retail environment remained challenging
during the month of October and the company now expects that earnings for the
third quarter will be slightly below its previously announced earnings per
share outlook of $0.32 to $0.37.
Sales Recording
To hear Nordstrom's pre-recorded October sales message, please dial
800-891-8250 or 402-220-6036. This recording will be available for one week.
OCTOBER SALES RESULTS
(unaudited; $ in millions)
Total Sales Same-store Sales(2)
Percent
Fiscal Fiscal Increase/ Full-line Rack
2008 2007(1) (Decrease) Total Stores Stores
----------------------------- -----------------------
October $529 $626 (15.5%) (15.7%) (20.4%) 0.7%
Third Quarter $1,805 $1,970 (8.4%) (11.1%) (15.6%) 3.6%
Year-to-date $5,971 $6,314 (5.4%) (7.7%) (11.0%) 4.8%
Number of stores
as of November 1,
2008
Full-line 108 101
Rack and other 58 56
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Total 166 157
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Gross square
footage 21,717,000 20,542,000
(1) Total sales results for fiscal 2007 include sales from the company's
domestic Faconnable boutiques through October 31, 2007.