Nordstrom Reports Holiday Sales
Comparable Sales Increase of 1.3%
In Full-Price, comparable sales increased 0.3 percent relative to the third quarter year-to-date increase of 1.9 percent, reflecting softer traffic in stores. In Off-Price, comparable sales increased 3.9 percent, which was consistent with year-to-date trends and expectations. Digital sales for the Company increased 18 percent over the same period last year, representing 36 percent of sales.
While year-to-date comparable sales of 2.1 percent were in-line with the Company’s prior outlook of approximately 2 percent for fiscal 2018, Full-Price sales were below the Company’s expectations. As a result, the Company has incorporated in its annual expectations higher markdowns taken during holiday and to reposition inventory to a more appropriate level by the end of the year. Earnings per diluted share is expected to be around the low end of the Company’s prior outlook range of
The Company remains committed to achieving its long-term financial targets, which supports three strategic objectives in driving higher shareholder returns: continuing market share gains, improving profitability and returns and maintaining disciplined capital allocation.
The Company is scheduled to report its fourth quarter and full-year 2018 financial results after the close of the financial markets on
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INVESTOR CONTACT:
Trina Schurman
Nordstrom, Inc.
206-303-6503
MEDIA CONTACT:
Gigi Ganatra Duff
Nordstrom, Inc.
206-303-3030