SEATTLE, July 12, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Nordstrom, Inc. (NYSE: JWN)
today reported preliminary sales of $851.1 million for the five-week period
ending July 7, 2007, an increase of 2.9 percent compared to sales of
$827.0 million for the five-week period ending July 1, 2006. Same-store sales
increased 2.0 percent.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001011/NORDLOGO)
Preliminary quarter-to-date sales of $1.49 billion increased 4.3 percent
compared to sales of $1.43 billion during the same period in 2006.
Quarter-to-date same-store sales increased 3.8 percent.
Preliminary year-to-date sales of $3.44 billion increased 7.1 percent
compared to sales of $3.22 billion during the same period in 2006.
Year-to-date same-store sales increased 6.9 percent.
The 53rd week in fiscal 2006 created a timing shift in the 4-5-4 calendar
for fiscal 2007. The month of June in fiscal 2007 began one week later than
in fiscal 2006. This timing shift negatively impacted reported sales for June
2007.
SALES RECORDING
To hear Nordstrom's prerecorded June sales message, please dial
(402) 220-6036. This recording will be available for one week.
SALES SUMMARY
(unaudited; Total Sales(1) Same-store Sales(1)
$ in millions) Fiscal Fiscal Percent Total Full-line Rack
2007 2006 Increase Retail Stores Stores
June $851.1 $827.0 2.9% 2.0% 0.5% 8.7%
Quarter-to-date $1,489.0 $1,427.9 4.3% 3.8% 2.7% 8.7%
Year-to-date $3,442.8 $3,215.1 7.1% 6.9% 5.5% 10.7%
Number of stores
Full-line 98 99
Rack and other 59 57
International
Faconnable
boutiques 37 34
Total 194 190
Gross square
footage 20,194,000 20,217,000
(1) Same-store sales results exclude the impact of the January 2007
closure of the Crossroads Plaza Mall full-line store in Salt Lake
City, Utah, in preparation for its planned relocation in 2011. Total
sales results include the impact of this store closure.
SECOND QUARTER 2007 SALES OUTLOOK
Our outlook for the 2007 second quarter same-store sales rate is for an
estimated two to three percent increase. This range reflects a combination of
the actual rates for May and June with the planned same-store sales rate for
July.
For the month of July, we expect the same-store sales rate to be in line
with the anticipated quarterly rate.
FUTURE REPORTING DATES
Nordstrom's financial release calendar for the next three months is
currently planned as follows:
July Sales Release Thurs., August 9, 2007
Second Quarter Earnings Thurs., August 16, 2007
August Sales Release Thurs., Sept. 6, 2007
September Sales Release Thurs., Oct. 11, 2007
Nordstrom, Inc. is one of the nation's leading fashion specialty
retailers, with 157 US stores located in 27 states. Founded in 1901 as a shoe
store in Seattle, today Nordstrom operates 98 full-line stores, 50 Nordstrom
Racks, four Faconnable boutiques in the United States, two Jeffrey boutiques,
one free-standing shoe store, and two clearance stores. Nordstrom also
operates 37 Faconnable boutiques in Europe. 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:
RJ Jones, 206-303-3007
Media Contact:
Michael Boyd, 206-373-3038
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 sales
results and anticipated same-store sales rates for the month of July 2007 and
the 2007 second quarter, the anticipated impact on the same-store sales rate
for that period due to the fiscal 2006 53rd week timing shift, and trends in
company operations. Actual future results and trends may differ materially
from historical results or current expectations depending upon factors
including, but not limited to, our ability to respond to the business
environment and fashion trends, effective inventory management, the impact of
economic and competitive market forces, successful execution of our store
growth strategy including the timely completion of construction associated
with newly planned stores, our compliance with information security and
privacy laws and regulations, employment laws and regulations, and other laws
and regulations applicable to the company, successful execution of our
multi-channel strategy, our ability to safeguard our brand and reputation,
efficient and proper allocation of our capital resources, successful execution
of our technology strategy, the impact of terrorist activity or war on our
customers and the retail industry, trends in personal bankruptcies and bad
debt write-offs, changes in interest rates, our ability to control costs, our
ability to maintain our relationships with our employees, weather conditions,
and hazards of nature. Our SEC reports, including our Form 10-K for the
fiscal year ended February 3, 2007, 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.
SOURCE Nordstrom, Inc.
Investors, RJ Jones, +1-206-303-3007, or Media, Michael Boyd, +1-206-373-3038, both
for Nordstrom, Inc.
http://www.nordstrom.com