Nordstrom Reports January Sales
SEATTLE, Feb. 7, 2008 /PRNewswire/ -- Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $486.3 million for the four-week period ended February 2, 2008, compared to sales of $610.1 million for the five-week period ended February 3, 2007. Same-store sales decreased 6.6 percent and total sales decreased 20.3 percent. Notably, the 2006 fiscal calendar had 53 weeks compared to the company's normal operating calendar of 52 weeks. As a result, both the previous January sales period and the fourth quarter of fiscal 2006 had one additional week compared to the same periods in fiscal 2007. Excluding the extra week of sales in January of fiscal 2006 for comparative purposes, January total sales decreased 1.2% in fiscal 2007. The extra week of sales affects the total sales calculations, but does not affect same-store sales calculations.
Preliminary 2007 fourth quarter sales were $2.51 billion compared to 2006 fourth quarter sales of $2.63 billion. Fourth quarter same-store sales decreased 0.7 percent and total sales decreased 4.4 percent. Excluding the extra week of sales in the fourth quarter of 2006, total sales were flat in the fourth quarter of 2007.
Preliminary fiscal year 2007 sales were $8.83 billion compared to fiscal year 2006 sales of $8.56 billion. Fiscal 2007 same-store sales increased 3.9 percent and total sales increased 3.1 percent. Excluding the extra week of sales in fiscal 2006, total sales increased 4.6% in fiscal year 2007.
Sales Recording
To hear Nordstrom's pre-recorded January sales message, please dial (402) 220-6036. This recording will be available for one week.
JANUARY SALES RESULTS
(unaudited; $ in millions)
Total Sales(1) Same-store Sales(2)
Percent
Fiscal Fiscal Increase/ Full-line Rack
2007 2006 (Decrease) Total Stores Stores
January $486.3 $610.1 (20.3%) (6.6%) (8.2%) 0.8%
Fourth Quarter $2,514.2 $2,630.9 (4.4%) (0.7%) (2.3%) 5.8%
Fiscal Year $8,828.0 $8,560.7 3.1% 3.9% 2.5% 8.7%
Number of stores(3)
Full-line 101 98
Rack and other 55 53
Faconnable boutiques - 40
Total 156 191
Gross square
footage 20,502,000 20,170,000
(1) Due to the 53rd week in the fiscal 2006 calendar, the final period
last year included a fifth week, which negatively impacts 2007
reported results. Total sales results include sales from the
company's international Faconnable boutiques through August 31, 2007
and the company's domestic Faconnable boutiques through October 31,
2007.
(2) Same-store sales results exclude sales from Faconnable.
(3) On October 31, 2007, the company completed the previously announced
sale of Faconnable.
Expansion Update
On February 15, 2008, the company plans to open a full-line store at Aventura Mall in Aventura, Fla.
Future Reporting Dates
Nordstrom's financial release calendar for the next three months is currently planned as follows:
Fourth Quarter Earnings Release Mon., February 25, 2008
February Sales Release Thurs., March 6, 2008
March Sales Release Thurs., April 10, 2008
April Sales Release Thurs., May 8, 2008
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 156 stores located in 28 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 101 Full-line stores, 50 Nordstrom Racks, two Jeffrey boutiques, one free-standing shoe store, 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.
Investor Contact:
Chris Holloway, 206-303-3290
Media Contact:
Michael Boyd, 206-373-3038
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. The company's SEC reports, including its Form 10-K for the fiscal year ended February 3, 2007, 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.
SOURCE Nordstrom, Inc.
02/07/2008
CONTACT: Investors, Chris Holloway, +1-206-303-3290, Media,
Michael Boyd, +1-206-373-3038, both of Nordstrom, Inc.
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Web site: http://www.nordstrom.com