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Nordstrom October Sales Comparison Rises

The Associated Press

SEATTLE (AP) — Department store operator Nordstrom Inc. said Thursday that October sales in stores open at least one year rose 6.5 percent, ahead of analyst expectations.

Total sales for the four weeks ended Oct. 31 rose 15 percent to $607 million from $529 million a year ago.

Analysts surveyed by Thomson Reuters, on average, expected sales in stores open at least one year to rise 3 percent.

Sales at stores open at least a year are a key measure of retailer performance because they measure growth at existing stores rather than from newly opened ones.

Third quarter sales in stores open at least one year fell 1.2 percent while total sales rose 4 percent to $1.87 billion. Analysts predicted sales of $1.8 billion.

Year to date, sales in stores open at least one year fell 8.4 percent while total sales fell 4 percent to $5.72 billion.

Nordstrom shares rose 25 cents to $32.85 in morning trading.