Nordstrom Reports May Sales
SEATTLE, June 5, 2008 /PRNewswire-FirstCall/ -- Nordstrom, Inc. (NYSE: JWN) today 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.
Sales Recording
To hear Nordstrom's pre-recorded May sales message, please dial 800-891-8250 or 402-220-6036. This recording will be available for one week.
MAY SALES RESULTS
(unaudited; $ in millions)
Total Sales Same-store Sales(2)
------------- --------------------
Fiscal Fiscal Percent Full-line Rack
2008 2007(1) Increase Total Stores Stores
------------------ -------- --------------------
May $716 $638 12.2% 10.9% 10.7% 7.1%
Year-to-date $2,595 $2,592 0.1% (2.2%) (4.1%) 5.2%
Number of stores
Full-line 105 98
Rack and other 54 53
Faconnable boutiques(3) - 41
--- ---
Total 159 192
=== ===
Gross square footage 21,139,000 20,174,000
(1) Total sales results for fiscal 2007 include sales from the company's
international and domestic Faconnable boutiques.
(2) Same-store sales results exclude sales from Faconnable.
(3) On October 31, 2007, the company completed the sale of Faconnable.
Future Reporting Dates
Nordstrom's financial release calendar for the next three months is currently planned as follows:
June Sales Release Thurs., July 10, 2008
July Sales Release Thurs., August 7, 2008
Second Quarter Earnings Release Thurs., August 14, 2008
August Sales Release Thurs., September 4, 2008
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 http://www.nordstrom.com and through its catalogs. Nordstrom, Inc. is publicly traded on the NYSE under the symbol JWN.
Certain statements in this news release contain or may suggest "forward- looking" information (as defined in the Private Securities Litigation Reform Act of 1995) that involves risks and uncertainties, including same store sales rates and expected July sales. The company's SEC reports, including its Form 10-K for the fiscal year ended February 2, 2008, contain factors that could affect the company's financial results and cause actual results to differ materially from any forward-looking information the company may provide. The company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances.
INVESTOR CONTACT: Chris Holloway
Nordstrom, Inc.
(206) 303-3290
MEDIA CONTACT: Michael Boyd
Nordstrom, Inc.
(206) 373-3038
(Logo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20001011/NORDLOGO)
SOURCE Nordstrom, Inc.
06/05/2008
CONTACT: Investors, Chris Holloway, +1-206-303-3290, or Media, Michael
Boyd, +1-206-373-3038, both of Nordstrom, Inc.
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Web site: http://www.nordstrom.com