| NORDSTROM REPORTS JUNE 2001 SALES
SEATTLE, Wash. - July 9, 2001 - Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $529.7 million for the month of June 2001, an increase of 6.5 percent compared to sales of $497.5 million for the month of June 2000. Same-store sales increased 1.4 percent.
"We are pleased with the results of our June Men’s and Women’s Half-Yearly clearance events, particularly in light of the challenging retail environment," said Nordstrom President Blake Nordstrom. "The women’s sale generated a stronger response than the men’s sale. Both events improved over last year and significantly drove our positive top-line results."
Preliminary year-to-date sales of $2.2 billion increased 5.4 percent compared to 2000 year-to-date sales of $2.1 billion. Year-to-date same-store sales declined 2.2 percent.
CALENDAR-ADJUSTED RESULTS After adjusting for the impact of differences in the specific days of the week that comprised June 2001 compared to June 2000, total sales for June 2001 increased approximately 5.6 percent, and same-store sales increased approximately 0.4 percent. Adjusted same-store sales in full-line stores increased in the East Coast and Northwest regions, and in the Women’s, Junior Women’s, Women’s Active Wear, Hosiery, Intimate Apparel and Cosmetics merchandise categories.
FUTURE REPORTING DATES Nordstrom’s financial release calendar for the remainder of fiscal 2001 is as follows (after market close):
|
July Sales Release |
Mon., August 6, 2001 |
Second Quarter Earnings |
Thurs., August 16, 2001 |
August Sales Release |
Mon., September 10, 2001 |
September Sales Release |
Thurs., October 4, 2001 |
October Sales Release |
Tues., November 6, 2001 |
Third Quarter Earnings |
Thurs., November 15, 2001 |
November Sales Release |
Thurs., December 6, 2001 |
December Sales Release |
Mon., January 7, 2002 |
January Sales Release |
Wed., February 6, 2002 |
Fourth Quarter Earnings |
Thurs., February 21, 2002 |
Celebrating 100 years of service, Nordstrom, Inc. is one of the nation's leading fashion specialty retailers, with 122 US stores located in 24 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 77 full-line stores, 39 Nordstrom Racks, three Façonnable boutiques, two free-standing shoe stores, and one clearance store. Nordstrom also operates 21 international 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) |
June* 2001 |
June 2000 |
YTD 2001 (150 days) |
YTD 2000 (151 days) |
|
Total sales** |
$529.7 |
$497.5 |
$2,186.1 |
$2,073.5 |
Total sales percentage change |
6.5% |
14.5% |
5.4% |
7.8% |
|
Same-store sales percentage change |
Full-line stores |
1.7% |
9.3% |
(1.8)% |
2.2% |
Rack and other stores |
(2.0)% |
5.5% |
(5.4)% |
6.2% |
All stores |
1.4% |
9.1% |
(2.2)% |
2.5% |
|
Number of stores (as of June 30) |
Full-line |
77 |
72 |
|
|
Rack and other |
45 |
37 |
|
|
International Façonnable boutiques |
21 |
0 |
|
|
Total |
142 |
109 |
|
|
|
Gross square footage (As of June 30) |
16,307,000 |
14,819,000 |
|
|
|
*June 2001 included one additional Saturday and one fewer Thursday compared to June 2000.
**In accordance with Emerging Issues Task Force Issue No. 0010, effective Nov. 1, 2000, the company is reclassifying shipping income as sales. Comparison data in 2000 also have been reclassified. Previously these amounts were classified within Selling, General & Administrative expenses. These amounts have not materially impacted reported sales.
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 anticipated store openings and distribution channels, planned capital expenditures, and trends in company operations. 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: Shasha Richardson Nordstrom, Inc. (206)373-3038 |
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Investor Contact: Stephanie Allen (206) 373-4034 |
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