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Same-store sales increase 4.5% at Nordstrom in FY'12
03
Aug '12
Nordstrom Inc. reported July and second quarter sales, which reflected the shift in timing of the Anniversary Sale event, historically the Company’s largest sale event of the year.

This event started one week later in July compared with last year. As a result, an additional week of the event shifted into August, which is part of the Company’s fiscal third quarter.

Due to the event shift and as previously reported in the first quarter earnings release, the Company expected second quarter same-store sales to increase in the low-single-digit range.

The Company reported a 0.9 percent increase in same-store sales for the four-week period ended July 28, 2012 compared with the four-week period ended July 30, 2011. Preliminary total retail sales of $1.00 billion for July 2012 increased 1.1 percent compared with total retail sales of $993 million for the same period in fiscal 2011.

Second quarter same-store sales increased 4.5 percent compared with the same period in fiscal 2011. Preliminary second quarter total retail sales of $2.92 billion increased 7.4 percent compared with total retail sales of $2.72 billion for the same period in fiscal 2011.

Year-to-date same-store sales increased 6.3 percent compared with the same period in fiscal 2011. Preliminary year-to-date total retail sales of $5.45 billion increased 10.3 percent compared with total retail sales of $4.95 billion for the same period in fiscal 2011.

Total sales and same-store sales include accounting adjustments that are not allocated to Nordstrom or Nordstrom Rack. Additionally, the shift in the timing of the Anniversary Sale relative to last year heightened the impact of these accounting adjustments to both total and same-store sales.

Same-store sales include sales from stores that have been open at least one full year as of the beginning of the fiscal year. Nordstrom includes sales from both full-line stores and Direct because of the integration of these two channels. Same-store sales exclude sales made through HauteLook, Nordstrom’s online private sale subsidiary, which was acquired in the first quarter of 2011.

Nordstrom, Inc. is one of the nation’s leading fashion specialty retailers. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 231 stores in 31 states, including 117 full-line stores, 110 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store.

Nordstrom Inc

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