NORDSTROM REPORTS DECEMBER 2000 SALES
SEATTLE, Wash. - Jan. 5, 2001 - Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $736.8 million for the month of December 2000, an increase of 5.6 percent compared to sales of $697.6 million in December 1999. Same-store sales declined 2.9 percent.
Preliminary year-to-date sales of $5.2 billion increased 7.3 percent compared to 1999 year-to-date sales of $4.9 billion. Year-to-date same-store sales increased 0.4 percent.
CALENDAR-ADJUSTED RESULTS
After adjusting for the estimated impact of differences in the specific days of the week that comprised December 2000 compared to December 1999, total sales for December 2000 increased 6.2 percent, and same-store sales declined 2.9 percent. Those adjusted same-store sales in full-line stores increased in the East Coast Region, and in the Women's shoes, Children's shoes, Junior Women's, and Cosmetics merchandise categories.
FOURTH QUARTER OUTLOOK
The company estimates that its fiscal 2000 fourth quarter diluted earnings per share will fall in the range of $0.18 to $0.23, compared to the most recent First Call consensus estimate of $0.38, due to a shortfall in sales and increased markdown activity. "December performance was disappointing, and it represents a large portion of our business for the fourth quarter," said Blake Nordstrom, president of Nordstrom, Inc. "Our challenge is to compete successfully regardless of the external environment, and to improve merchandise execution so we have what our customers are looking for," he commented.
FUTURE REPORTING DATES
Nordstrom expects to report January 2001 sales on Tuesday, Feb. 6, 2001. The company expects to report results for its fiscal fourth quarter, ending Jan. 31, 2001, on Feb. 22, 2001. A conference call is planned for 4:30 p.m. (Eastern Standard Time) that day. The conference call may be heard over the internet by accessing Nordstrom's web site at www.NORDSTROM.com, then clicking on the "About Us" and "Investor Relations" options. A replay of the call will be available on Nordstrom's web site for several days thereafter.
Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 120 US stores located in 24 states, including 77 full-line stores, 37 Nordstrom Racks, three Façonnable boutiques, two free-standing shoe stores, and one clearance store. Nordstrom operates 20 Façonnable boutiques, primarily in Europe. Additionally, Nordstrom serves customers through its online presence at http://www.NORDSTROM.com and through its direct mail catalogs.
Sales Summary |
(unaudited; $ in millions) |
December
2000* |
December
1999 |
YTD
2000
(335 days) |
YTD
1999
(334 days) |
|
Total sales |
$736.8 |
$697.6 |
$5,204.1 |
$4,851.3 |
Total sales percentage change |
5.6% |
6.6% |
7.3% |
1.7% |
|
Same-store sales percentage change
(compared to same period in prior year) |
Full-line stores |
(3.1)% |
2.9% |
0.3% |
(1.2)% |
Rack and other stores |
(0.8)% |
4.0% |
1.8% |
(2.0)% |
All stores |
(2.9)% |
2.9% |
0.4% |
(1.3)% |
|
Number of stores(as of Dec. 31) |
Full-line |
77 |
71 |
|
|
Rack and other |
43 |
33 |
|
|
International Façonnable boutiques |
20 |
0 |
|
|
Total |
140 |
104 |
|
|
|
Gross store square footage |
15,987,000 |
14,487,000 |
|
|
|
* December 2000 (excluding the Christmas holiday) contained one more Saturday and Sunday, and one less Wednesday and Thursday, compared to December 1999.
Certain statements in this news release contain "forward-looking" information (as defined in the Private Securities Litigation Reform Act of 1995) that involves risks and uncertainties, including earnings, anticipated store growth, and merchandise execution. Actual future results and trends may differ materially depending upon a variety of factors including, but not limited to, the company's ability to source and manage appropriate inventory, predict fashion trends and consumer apparel buying patterns, and control costs and expenses; weather conditions; hazards of nature such as earthquakes and floods; trends in personal bankruptcies and bad debt write-offs; employee relations; the company's ability to continue its expansion plans; and the impact of economic and competitive market forces. The company's SEC reports may contain other information on these and other factors which could affect our financial results and cause actual results to differ from any forward-looking information we may provide.
Media Contact:
Brooke White
(206) 373-3030 |
|
Investor Contact:
Rob Campbell
(206) 373-4045 |
|
