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Sales at Nordstrom report drop in double digits

07
Nov '08
Nordstrom Inc., reported preliminary sales of $529 million for the four-week period ended November 1, 2008, a decrease of 15.5 percent compared with sales of $626 million for the four-week period ended November 3, 2007.

October same-store sales decreased 15.7 percent, compared with the same period in 2007.

Preliminary third quarter sales of $1.80 billion decreased 8.4 percent compared with sales of $1.97 billion during the same period in 2007. Third quarter same-store sales decreased 11.1 percent, compared with the same period in 2007.

Preliminary year-to-date sales of $5.97 billion decreased 5.4 percent compared with sales of $6.31 billion for the same period in 2007. Year-to-date same-store sales decreased 7.7 percent, compared with the same period in 2007.

The economic and competitive retail environment remained challenging during the month of October and the company now expects that earnings for the third quarter will be slightly below its previously announced earnings per share outlook of $0.32 to $0.37.

Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 167 stores located in 28 states.

Nordstrom Inc


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