Nordstrom, Inc. (NYSE:JWN) today reported a 1.1 percent decrease in same-store sales for the four-week period ended November 24, 2012 compared with the four-week period ended November 26, 2011. Preliminary total retail sales of $926 million for November 2012 increased 1.8 percent compared with total retail sales of $910 million for the same period in fiscal 2011.
Sales were weaker in the first half of the month, largely attributable to a lower than planned Half-Yearly Sale for Women and Kids. Customers continue to demonstrate a strong preference for fashion and newness, which has made clearance events less compelling. Sales also were unfavorably impacted by store closures in the Northeast and Mid-Atlantic regions due to Hurricane Sandy. Sales trends in the second half of the month rebounded to their recent historical level.
Year-to-date same-store sales increased 6.7 percent compared with the same period in fiscal 2011. Preliminary year-to-date total retail sales of $9.09 billion increased 10.4 percent compared with total retail sales of $8.24 billion for the same period in fiscal 2011.
SALES RECORDINGTo hear Nordstrom’s pre-recorded November sales message, please dial 402-220-6036 beginning today at 8:40 a.m. EST. This recording will be available for one week.
NOVEMBER SALES RESULTS
(unaudited; $ in millions)
|Total Retail Sales||Same-store Sales|
|Number of stores||Nov-12||Nov-11|
|Nordstrom Rack and other||123||108|
|Gross square footage||25,290,000||24,744,000|