Press Release:
SEATTLE–(BUSINESS WIRE)–Nordstrom, Inc. (JWN) today reported an 11.4 percent increase in same-store sales for January.
Similar to many other retailers, Nordstrom follows the retail 4-5-4 reporting calendar, which included an extra week in the fourth quarter of fiscal 2012 (the 53rd week). In the 53rd week, the company had preliminary total retail sales of approximately $162 million. The 53rd week is excluded from same-store sales calculations.
Preliminary total retail sales of $951 million for the five week period ended February 2, 2013 increased 38.4 percent compared with total retail sales of $688 million for the four week period ended January 28, 2012.
Excluding sales for the 53rd week, preliminary total retail sales for the four week period ended January 26, 2013 increased 14.9 percent.
Fourth quarter same-store sales increased 6.3 percent compared with the same period in fiscal 2011. Preliminary fourth quarter total retail sales of $3.60 billion increased 13.5 percent compared with total retail sales of $3.17 billion for the same period in fiscal 2011.
Fiscal year 2012 same-store sales increased 7.3 percent compared with the same period in fiscal 2011. Preliminary fiscal year 2012 total retail sales of $11.76 billion increased 12.1 percent compared with total retail sales of $10.50 billion for the same period in fiscal 2011.
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
Nordstrom announced plans to open a full-line store at Ridgedale Center in Minneapolis, Minn. in fall 2015. Nordstrom also announced plans to open two Nordstrom Rack stores in fall 2013, at The Mercato in Naples, Fla. and at Perimeter Expo shopping center in Atlanta, Ga.
FUTURE REPORTING DATES
Nordstrom’s planned financial release calendar currently includes the following upcoming events:
Fourth Quarter Earnings Release Thurs., February 21, 2013
First Quarter Earnings Release Thurs., May 16, 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.
