The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Business Wire

Nordstrom Reports October Sales

Thursday, November 03, 2011

Nordstrom Reports October Sales08:28 EDT Thursday, November 03, 2011 SEATTLE (Business Wire) -- Nordstrom, Inc. (NYSE:JWN) today reported a 5.4 percent increase in same-store sales for the four-week period ended October 29, 2011 compared with the four-week period ended October 30, 2010. Preliminary total retail sales of $749 million for October 2011 increased 13.3 percent compared with total retail sales of $662 million for the same period in fiscal 2010. Third quarter same-store sales increased 7.9 percent compared with the same period in fiscal 2010. Preliminary third quarter total retail sales of $2.38 billion increased 14.2 percent compared with total retail sales of $2.09 billion for the same period in fiscal 2010. Year-to-date same-store sales increased 7.2 percent compared with the same period in fiscal 2010. Preliminary year-to-date total retail sales of $7.33 billion increased 12.8 percent compared with total retail sales of $6.49 billion for the same period in fiscal 2010. SALES RECORDING To hear Nordstrom's pre-recorded October sales message, please dial (402) 220-6036. This recording will be available for one week. OCTOBER SALES RESULTS(unaudited; $ in millions)     Total Retail Sales Same-store Sales Fiscal2011(1)   Fiscal2010   PercentIncreaseTotal   Nordstrom(2)   NordstromRack October $749   $662   13.3 % 5.4 %   5.7 %   7.4 %   Third Quarter $2,383 $2,087 14.2 % 7.9 % 8.5 % 6.8 %   Year-to-date $7,328 $6,494 12.8 % 7.2 % 8.1 % 4.3 %     Number of stores 10/29/11   10/30/10 Nordstrom 117 115 Nordstrom Rack and other 10888 Total 225203   Gross square footage   24,744,000   23,802,000 (1)Includes sales made through HauteLook, Nordstrom's online private sale subsidiary. (2)Nordstrom, formerly referred to as “Multi-channel,” includes Nordstrom full-line stores and Direct. EXPANSION UPDATE In October, Nordstrom opened three Nordstrom Rack stores at Market at Town Center in Sugar Land, Texas; The Corner in Tucson, Ariz.; and Westfield Plaza Bonita in National City, Calif. FUTURE REPORTING DATES Nordstrom's planned financial release calendar for the next three months currently includes: Third Quarter Earnings Release   Thurs., November 10, 2011 November Sales Release Thurs., December 1, 2011 December Sales Release Thurs., January 5, 2012 January Sales Release Thurs., February 2, 2012 Fourth Quarter Earnings Release Thurs., February 16, 2012 ABOUT NORDSTROM Nordstrom, Inc. is one of the nation's leading fashion specialty retailers. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 225 stores in 30 states, including 117 full-line stores, 104 Nordstrom Racks, two Jeffrey boutiques, one treasure&bond store and one clearance store. Nordstrom also serves customers through Nordstrom.com and through its catalogs. Additionally, the Company operates in the online private sale marketplace through its subsidiary HauteLook. Nordstrom, Inc.'s common stock is publicly traded on the NYSE under the symbol JWN. 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 involve risks and uncertainties, including, but not limited to, trends in company operations. Such statements are based upon the current beliefs and expectations of the company's management and are subject to significant risks and uncertainties. Actual future results may differ materially from historical results or current expectations depending upon factors including, but not limited to: the impact of economic and market conditions and the resultant impact on consumer spending patterns; our ability to maintain our relationships with vendors; our ability to respond to the business environment, fashion trends and consumer preferences, including changing expectations of service and experience in stores and online; effective inventory management; successful execution of our growth strategy, including possible expansion into new markets, technological investments and acquisitions, including our ability to realize the anticipated benefits from such acquisitions, and the timely completion of construction associated with newly planned stores, relocations and remodels, which may be impacted by the financial health of third parties; our ability to maintain relationships with our employees and to effectively attract, develop and retain our future leaders; successful execution of our multi-channel strategy; our compliance with applicable banking and related laws and regulations impacting our ability to extend credit to our customers; impact of the current regulatory environment and financial system and health care reforms; the impact of any systems failures and/or security breaches, including any security breaches that result in the theft, transfer or unauthorized disclosure of customer, employee or company information or our compliance with information security and privacy laws and regulations in the event of such an incident; our compliance with employment laws and regulations and other laws and regulations applicable to us; trends in personal bankruptcies and bad debt write-offs; changes in interest rates; efficient and proper allocation of our capital resources; availability and cost of credit; our ability to safeguard our brand and reputation; successful execution of our information technology strategy; weather conditions, natural disasters, health hazards or other market disruptions, or the prospects of these events and the impact on consumer spending patterns; disruptions in our supply chain; the geographic locations of our stores; the effectiveness of planned advertising, marketing and promotional campaigns; our ability to control costs; and the timing and amounts of share repurchases by the company, if any, or any share issuances by the company, including issuances associated with option exercises or other matters. Our SEC reports, including our Form 10-K for the fiscal year ended January 29, 2011, and our Forms 10-Q for the fiscal quarters ended April 30, 2011 and July 30, 2011, contain other information on these and other factors that could affect our financial results and cause actual results to differ materially from any forward-looking information we may provide. The company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, new information or future circumstances. Nordstrom, Inc.INVESTOR CONTACT:Rob Campbell, 206-233-6550orMEDIA CONTACT:Colin Johnson, 206-303-3036