Nordstrom Reports November 2002 Sales
SEATTLE, Dec. 4 /PRNewswire-FirstCall/ -- Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales(1) of $573.8 million for the four-week period ending November 30, 2002, an increase of 4.3 percent compared to sales of $550.0 million for the four-week period ending December 1, 2001. Same-store sales(1) decreased 1.0 percent, consistent with the Company's guidance of flat to down low single digits.
(Photo: http://www.newscom.com/cgi-bin/prnh/20001011/NORDLOGO )
Same-store sales in full-line stores increased 5.6 percent during the Women's Half-Yearly event (November 6-November 17), compared to the same event in 2001 (November 7-November 18). The strength of this event was offset primarily by the impact of the Thanksgiving holiday occurring later in the month this year than last year.
For the four-week period, same-store sales in full-line stores were flat in the Central States and East Coast geographic regions and decreased in the Northwest and Southwest regions. By merchandise division, same-store sales increased in Cosmetics, as well as the Designer, Contemporary and Bridge segments of Women's Apparel. Women's Shoes, Children's Shoes, and Women's Active Wear were all flat.
Preliminary year-to-date sales of $4.8 billion increased 5.6 percent compared to 2001 year-to-date sales of $4.6 billion. Year-to-date same-store sales increased 1.0 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.
December Sales Release Wed., January 8, 2003 January Sales Release Wed., February 5, 2003 Fourth Quarter Earnings Thurs., February 20, 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 Nov. Nov. YTD YTD (unaudited; $ in millions) 2002 2001 2002 2001 Total sales $573.8 $550.0 $4,811.0 $4,557.7 Total sales percentage change 4.3% 2.1% 5.6% 3.7% Same-store sales percentage change Full-line stores (1.9%) 1.7% 0.3% (1.5%) Rack and other stores 9.3% (8.3%) 7.5% (6.2%) All stores (1.0%) 0.9% 1.0% (1.9%) Number of stores (as of November 30) Full-line 88 80 Rack and other 55 52 International Faconnable boutiques 23 23 Total 166 155 Gross square footage (as of November 30) 18,428,000 17,042,000
(1) Nordstrom reports monthly sales according to the 4-5-4 Retail Calendar. The Company reports quarterly financial results on a calendar basis. Preliminary total sales for the month of November 2002 and 2001 were $617.9 million and $570.8 million, respectively, on a calendar basis. Also on a calendar basis, preliminary same-store sales were 2.8% 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.|
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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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