Nordstrom Reports November Sales
29 Novembre 2012 - 2:28PM
Business Wire
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
Fiscal2011
PercentIncrease
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.
EXPANSION UPDATE
In November, Nordstrom opened two Nordstrom Rack stores at
Warwick Mall in Warwick, R.I. and Northgate Mall in Seattle,
Wash.
Nordstrom also announced plans to open a Nordstrom Rack store at
River Ridge Shopping Center in Birmingham, Ala. in spring 2013 and
relocate the Nordstrom Rack store at Promenade at Howard Hughes
Center in Los Angeles, Calif. to Westfield Culver City in Culver
City, Calif. in fall 2013.
FUTURE REPORTING DATES
Beginning in fiscal 2013, the Company will align with the
practice of a majority of its retail peers and no longer report
monthly sales.
Nordstrom’s planned financial release calendar currently
includes the following upcoming events:
December
Sales Release Thurs., January 3, 2013 January Sales Release
Thurs., February 7, 2013 Fourth Quarter Earnings Release Thurs.,
February 21, 2013
ABOUT NORDSTROM
Nordstrom, Inc. is one of the nation’s leading fashion specialty
retailers. Founded in 1901 as a shoe store in Seattle, today
Nordstrom operates 240 stores in 31 states, including 117 full-line
stores, 119 Nordstrom Racks, two Jeffrey boutiques, one
treasure&bond store and one clearance store. Nordstrom also
serves customers through Nordstrom.com and through its catalogs.
Additionally, the Company operates in the online private sale
marketplace through its subsidiary HauteLook. Nordstrom, Inc.’s
common stock is publicly traded on the NYSE under the symbol
JWN.
Certain statements in this news release contain or may suggest
“forward-looking” information (as defined in the Private Securities
Litigation Reform Act of 1995) that involve risks and
uncertainties, including, but not limited to, anticipated store
openings and trends in company operations. Such statements are
based upon the current beliefs and expectations of the company’s
management and are subject to significant risks and uncertainties.
Actual future results may differ materially from historical results
or current expectations depending upon factors including, but not
limited to: the impact of economic and market conditions and the
resultant impact on consumer spending patterns; our ability to
respond to the business environment, fashion trends and consumer
preferences, including changing expectations of service and
experience in stores and online; effective inventory management;
successful execution of our growth strategy, including possible
expansion into new markets, technological investments and
acquisitions, our ability to realize the anticipated benefits from
such growth initiatives, and the timely completion of construction
associated with newly planned stores, relocations and remodels, all
of which may be impacted by the financial health of third parties;
our ability to manage the change in our business/financial model as
we increase our investment in e-commerce and our online business;
our ability to maintain relationships with our employees and to
effectively attract, develop and retain our future leaders;
successful execution of our multi-channel strategy, including
planning, procurement and allocation capabilities; our compliance
with applicable banking and related laws and regulations impacting
our ability to extend credit to our customers; impact of the
current regulatory environment and financial system and health care
reforms; the impact of any systems failures, cybersecurity and/or
security breaches, including any security breaches that result in
the theft, transfer or unauthorized disclosure of customer,
employee or company information or our compliance with information
security and privacy laws and regulations in the event of such an
incident; our compliance with employment laws and regulations and
other laws and regulations applicable to us, including the outcome
of claims and litigation and resolution of tax matters; compliance
with debt covenants and availability and cost of credit; our
ability to safeguard our brand and reputation; successful execution
of our information technology strategy; our ability to maintain our
relationships with vendors; trends in personal bankruptcies and bad
debt write-offs; changes in interest rates; efficient and proper
allocation of our capital resources; weather conditions, natural
disasters, health hazards or other market disruptions, or the
prospects of these events and the impact on consumer spending
patterns; disruptions in our supply chain; the geographic locations
of our stores; the effectiveness of planned advertising, marketing
and promotional campaigns; our ability to control costs; and the
timing and amounts of share repurchases by the company, if any, or
any share issuances by the company, including issuances associated
with option exercises or other matters. Our SEC reports, including
our Form 10-K for the fiscal year ended January 28, 2012, and our
Forms 10-Q for the fiscal quarters ended April 28, 2012 and July
28, 2012, contain other information on these and other factors that
could affect our financial results and cause actual results to
differ materially from any forward-looking information we may
provide. The company undertakes no obligation to update or revise
any forward-looking statements to reflect subsequent events, new
information or future circumstances.
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