Nordstrom, Inc. reported preliminary sales of $731 million for the five-week period ended July 5, 2008, a decrease of 14.1% compared to sales of $851 million for the five-week period ended July 7, 2007. Same-store sales decreased 18.6%. The company's June sales results were negatively impacted by the shift of the Half-Yearly Sale for Women and Kids into May.
Preliminary quarter-to-date sales of $1.45 billion decreased 2.8% compared to sales of $1.49 billion during the same period in 2007. Quarter-to-date same-store sales decreased 5.9%.
Preliminary year-to-date sales of $3.33 billion decreased 3.4% compared to sales of $3.44 billion for the same period in 2007. Year-to-date same-store sales decreased 6.2%.
Although second quarter-to-date sales results were consistent with the company's expectations, the competitive and economic environment remains challenging. The company experienced higher levels of markdowns than in past years as it cleared spring merchandise during the Half-Yearly Sale for Women and Kids in May and the Half-Yearly Sale for Men in June.