Nordstrom, Inc. reported preliminary sales of $558 million for the four-week period ended August 30, 2008, a decrease of 4.2% compared to sales of $582 million for the four-week period ended September 1, 2007. Same-store sales decreased 7.9%.
Preliminary year-to-date sales of $4.72 billion decreased 4.1% compared to sales of $4.93 billion for the same period in 2007. Year-to-date same-store sales decreased 6.4%.
Nordstrom plans to open two full-line stores in the upcoming fiscal month at The Oaks Shopping Center in Thousand Oaks, CA, on Sept. 5, 2008, and at Fashion Mall at Keystone in Indianapolis, IN, on Sept. 19, 2008. On Oct. 3, 2008, Nordstrom plans to relocate and open a new full-line store at the Tacoma Mall in Tacoma, WA.
The company also plans to open four new Rack stores in the upcoming fiscal month at City Center Shopping Center in White Plains, NY, the Laguna Hills Mall in Laguna Hills, CA, the Springbrook Prairie Pavilion in Naperville, IL, and Legacy Village Shopping Center in Lyndhurst, OH.
AUGUST SALES RESULTS
(unaudited; $ in millions)Total Sales Same-store Sales(2)
———– —————-
Percent
Fiscal Fiscal Increase/ Full-line Rack
2008 2007(1) (Decrease) Total Stores Stores—————————— ———————-
August $558 $582 (4.2%) (7.9%) (12.5%) 7.6%Year-to-date $4,724 $4,926 (4.1%) (6.4%) (9.4%) 5.7%
Number of stores
as of August
Full-line 105 98
Rack and other 54 55
Faconnable
boutiques(3) – 4
— —
Total 159 157
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Gross square
footage 21,139,000 20,091,000(1) Total sales results for fiscal 2007 include sales from the company’s
international and domestic Faconnable boutiques.
(2) Same-store sales results exclude sales from Faconnable.
(3) On August 31, 2007, Nordstrom completed the sale of its international
and wholesale Faconnable business. Nordstrom completed the sale of
its four U.S. Faconnable boutiques on October 31, 2007.
