Nordstrom Reports December 2002 Sales
SEATTLE, Jan. 8 /PRNewswire-FirstCall/ -- Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $839.2 million for the five-week period ending January 4, 2003, an increase of 9.2 percent compared to sales of $768.6 million for the five-week period ending January 5, 2002. Same-store sales increased 3.4 percent.
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For the five-week period, same-store sales in full-line stores increased in the Central States, Southwest and Northwest geographic regions and were flat in the East Coast region. By merchandise division, same-store sales increased in the Designer, Bridge and Contemporary segments of Women's Apparel, as well as Cosmetics, Accessories, Women's Active Wear, Shoes, and Children's Apparel.
Same-store sales in full-line stores decreased 2.3 percent during the Men's Half-Yearly event (December 26-January 6), compared to the same event in 2001 (December 26-January 6).
Preliminary quarter-to-date (November -- December) sales (1) of $1.4 billion increased 7.1 percent compared to 2001 quarter-to-date sales of $1.3 billion. Quarter-to-date same-store sales (1) increased 1.6 percent.
Preliminary year-to-date sales of $5.6 billion increased 6.1 percent compared to 2001 year-to-date sales of $5.3 billion. Year-to-date same-store sales increased 1.4 percent.
Future Reporting Dates
Nordstrom's financial release calendar for the next several months is provided in the table below. Please note that beginning in fiscal 2002 (February), sales are presented and reported according to the 4-5-4 retail calendar, after the market close, on the Wednesday before Retail Sales Day. Quarterly financial results will continue to be reported on a calendar basis until the beginning of fiscal 2003 (February) at which time quarterly results will also be presented on a 4-5-4 basis.
January Sales Release Wed., February 5, 2003 Fourth Quarter Earnings Thurs., February 20, 2003 February Sales Release Wed., March 5, 2003 March Sales Release Wed., April 9, 2003
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 143 US stores located in 27 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 88 full-line stores, 48 Nordstrom Racks, five Faconnable boutiques, one free-standing shoe store, and one clearance store. Nordstrom also operates 23 international Faconnable boutiques, primarily in Europe. Additionally, Nordstrom serves customers through its online presence at http://www.nordstrom.com and through its direct mail catalogs.
SALES SUMMARY Dec. Dec. QTD QTD YTD YTD (unaudited; 2002 2001 2002 2001 2002 2001 $in millions) Total sales $839.2 $768.6 $1,412.8 $1,318.5 $5,649.9 $5,326.0 Total sales percentage change 9.2% (5.3%) 7.1% (2.4%) 6.1% 2.3% Same-store sales percentage change Full-line stores 2.9% (7.9%) 0.9% (4.2%) 0.7% (2.5%) Rack and other stores 9.4% (3.9%) 9.3% (5.8%) 7.8% (5.9%) All stores 3.4% (7.6%) 1.6% (4.3%) 1.4% (2.8%) Number of stores (as of Jan. 4, 2003) Full-line 88 80 Rack and other 55 52 International Faconnable boutiques 23 24 Total 166 156 Gross square footage (as of Jan. 4, 2003) 18,428,000 17,048,000
(1) Nordstrom reports monthly sales according to the 4-5-4 Retail
Calendar. The Company reports quarterly financial results on a calendar basis. Preliminary quarter-to-date sales for 2002 and 2001 were $1.4 billion and $1.3 billion, respectively, on a calendar basis. Also on a calendar basis, preliminary quarter-to-date same-store sales were 1.7% higher than the prior year.
Certain statements in this news release contain "forward-looking" information (as defined in the Private Securities Litigation Reform Act of 1995) that involves risks and uncertainties, including anticipated store openings and distribution channels, planned capital expenditures, and trends in company operations. Actual future results and trends may differ materially depending upon a variety of factors including, but not limited to, the company's ability to source and manage appropriate inventory, predict fashion trends and consumer apparel buying patterns, and control costs and expenses; weather conditions; hazards of nature such as earthquakes and floods; trends in personal bankruptcies and bad debt write-offs; employee relations; the company's ability to continue its expansion plans; and the impact of economic and competitive market forces, including the effects of terrorist activity on the company, its customers and the industry. The company's SEC reports may contain other information on these and other factors, which could affect our financial results and cause actual results to differ from any forward-looking information we may provide.
|CONTACT:||Investors, Stephanie Allen, +1-206-303-3262, or Media,|
|Shasha Richardson, +1-206-373-3038, both of Nordstrom, Inc.|
SOURCE Nordstrom, Inc.
/CONTACT: Investors, Stephanie Allen, +1-206-303-3262, or Media, Shasha Richardson, +1-206-373-3038, both of Nordstrom, Inc./
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