| NORDSTROM REPORTS NOVEMBER 2001 SALES
SEATTLE, Wash. - December 6, 2001 - Nordstrom, Inc. (NYSE: JWN) today reported preliminary sales of $571.3 million for the month of November 2001, a decrease of 3.8 percent compared to sales of $593.9 million for the month of November 2000. Same-store sales declined 5.2 percent, in line with company expectations.
Same-store sales in the full-line stores decreased 2.3 percent during the Women's Half-Yearly event (November 7-November 18), compared to the same event in 2000 (November 1-November 12).
Preliminary year-to-date sales of $4.6 billion increased 2.4 percent compared to 2000 year-to-date sales of $4.5 billion. Year-to-date same-store sales declined 3.0 percent.
CALENDAR-ADJUSTED RESULTS After adjusting for the impact of differences in the specific days of the week that comprised November 2001 compared to November 2000, total sales for November 2001 decreased approximately 4.2 percent, and same-store sales declined approximately 5.4 percent. Adjusted same-store sales in full-line stores decreased in all geographic regions, and decreased in all merchandise categories except cosmetics and intimate apparel.
Please note that all Nordstrom full-line and Rack stores will be open on New Year's Day. They were not open January 1, 2001.
FUTURE REPORTING DATES Nordstrom's financial release calendar for the remainder of fiscal 2001 is as follows (after market close):
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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 132 US stores located in 25 states. Founded in 1901 as a shoe store in Seattle, today Nordstrom operates 80 full-line stores, 45 Nordstrom Racks, four Façonnable boutiques, two free-standing shoe stores, and one clearance store. Nordstrom also operates 23 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) |
Nov.* 2001 |
Nov. 2000 |
YTD 2001 (303 days) |
YTD 2000 (304 days) |
|
Total sales** |
$571.3 |
$593.9 |
$4,574.3 |
$4,466.7 |
Total sales percentage change |
(3.8%) |
9.1% |
2.4% |
8.1% |
|
Same-store sales percentage change |
Full-line stores |
(4.9%) |
(0.2%) |
(2.7%) |
0.9% |
Rack and other stores |
(8.8%) |
(5.0%) |
(6.5%) |
2.1% |
All stores |
(5.2%) |
(0.8%) |
(3.0%) |
1.0% |
|
Number of stores (as of November 30) |
Full-line |
80 |
77 |
|
|
Rack and other |
52 |
43 |
|
|
International Façonnable boutiques |
23 |
20 |
|
|
Total |
155 |
140 |
|
|
|
Gross square footage (As of November 30) |
17,042,000 |
16,056,000 |
|
|
|
*November 2001 included one more Friday and one less Wednesday compared to November 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, including the effects of recent terrorist activity on the company, its customers and the industry. 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 Nordstrom, Inc. (206) 373-3030 |
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Investor Contact: Stephanie Allen Nordstrom, Inc. (206) 303-3262 |
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