logo
Published on stock market, stocks, dividend (http://www.cdtv.net/users)

Nordstrom Reports May Sales

By newsroom
Created 2008-06-05 14:14

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.

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.


Source URL:
http://www.cdtv.net/users//users/node/18611