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Nordstrom Reports November Sales

Stocks in this article: JWN

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 RECORDING

To 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

Fiscal 2012

 

Fiscal 2011

 

Percent Increase

Total   Nordstrom  

Nordstrom Rack

November $926   $910   1.8 % (1.1 %)   (2.0 %)   4.3 %
 
Year-to-date $9,092 $8,238 10.4 % 6.7 % 7.0 % 7.2 %
 
 
Number of stores Nov-12   Nov-11
Nordstrom 117 117
Nordstrom Rack and other 123 108
Total 240 225
 
Gross square footage 25,290,000 24,744,000

SAME-STORE SALES

Same-store sales include sales from stores that have been open at least one full year as of the beginning of the fiscal year. Nordstrom includes sales from both full-line stores and Direct because of the integration of these two channels. Total same-store sales include accounting adjustments that are not allocated to Nordstrom and Nordstrom Rack. Same-store sales exclude sales made through HauteLook, Nordstrom’s online private sale subsidiary, which was acquired in the first quarter of 2011.

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