Nordstrom, Inc. preliminary sales were $582.3 million for the four-week period ending September 1, 2007, an increase of 12.6% compared to sales of $517.1 million for the four-week period ending August 26, 2006. Same-store sales increased 6.6%.
Preliminary year-to-date sales of $4.93 billion increased 7.7% compared to sales of $4.57 billion during the same period in 2006. Year-to-date same-store sales increased 7.4%.
The 53rd week in fiscal 2006 created a timing shift in the 4-5-4 calendar for fiscal 2007. The month of August in fiscal 2007 began and ended one week later than in fiscal 2006. This timing shift positively impacted sales results for the month of August.
SALES SUMMARY Total Sales(1)(2) Same-store Sales(1)(2)
(unaudited;
$ in millions) Fiscal Fiscal Percent Total Full-line Rack
2007 2006 Increase Retail Stores Stores
August $582.3 $517.1 12.6% 6.6% 4.5% 10.1%
Year-to-date $4,925.6 $4,574.8 7.7% 7.4% 6.1% 10.8%
Number of
stores(3)
Full-line 98 99
Rack and other 59 57
International
Faconnable
boutiques 0 34
Total 157 190
Gross
square
footage 20,091,000 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.
(2) Total sales results include the impact of the sales return reserve
and sales from our International Faconnable boutiques through August
31, 2007. The sales return reserve exiting July was higher than last
year, and positively impacted August total sales as a result.
Same-store sales results exclude the reserve in calculations.
(3) The number of International Faconnable boutiques reflects the sale of
our Faconnable subsidiary.
On August 31, 2007, we completed the previously announced sale of our international and wholesale Faconnable businesses. The sale of our four U.S. Faconnable boutiques is expected to close within our third quarter.
EXPANSION UPDATE
On September 7, 2007, the company plans to open a full-line store at the Natick Collection in Natick, Mass.
2007 THIRD QUARTER SALES OUTLOOK
The timing shift from the fiscal 2006 53rd week is expected to have a positive impact on third quarter 2007 sales results.
When compared to the planned same-store sales rate of four to five percent for the 2007 third quarter, the monthly same-store sales rate in September is expected be above the anticipated quarterly rate. In October, the planned same-store sales rate is expected to be below the anticipated quarterly rate.