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NORDSTROM, INC. (JWN)

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Nordstrom, Inc. : Nordstrom Reports April Sales

05/03/2012 | 08:30am US/Eastern
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Nordstrom, Inc. (NYSE: JWN) today reported a 7.1 percent increase in same-store sales for the four-week period ended April 28, 2012 compared with the four-week period ended April 30, 2011. Preliminary total retail sales of $802 million for April 2012 increased 10.5 percent compared with total retail sales of $726 million for the same period in fiscal 2011.

First quarter same-store sales increased 8.5 percent compared with the same period in fiscal 2011. Preliminary first quarter total retail sales of $2.53 billion increased 13.7 percent compared with total retail sales of $2.23 billion for the same period in fiscal 2011.

SALES RECORDING

To hear Nordstrom's pre-recorded April sales message, please dial (402) 220-6036 beginning today at 8:40 a.m. EDT. This recording will be available for one week.

APRIL SALES RESULTS

(unaudited; $ in millions)

      Total Retail Sales       Same-store Sales

Fiscal

   

Fiscal

   

Percent

       

Nordstrom

2012

   

2011

   

Increase

Total

   

Nordstrom

   

Rack

April $802 $726 10.5% 7.1% 7.0% 7.3%
 
First Quarter $2,535 $2,229 13.7% 8.5% 9.3% 6.8%
 
 
Number of stores Apr-12     Apr-11
Nordstrom 117 116
Nordstrom Rack and other 112 95
Total 229 211
 
Gross square footage 24,898,000 24,184,000
 

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 April, Nordstrom opened three Nordstrom Rack stores at Boise Towne Plaza in Boise, Idaho; North Point MarketCenter in Alpharetta, Ga.; and West Farms Shopping Center in Farmington, Conn.

Today, Nordstrom opens a Nordstrom Rack store at Commons at Temecula in Temecula, Calif. Additionally, in May Nordstrom plans to open a Nordstrom Rack store at Willow Grove Park in Willow Grove, Pa.

FUTURE REPORTING DATES

Nordstrom's planned financial release calendar for the next three months currently includes:

First Quarter Earnings Release           Thurs., May 10, 2012
May Sales Release Thurs., May 31, 2012
June Sales Release Thurs., July 5, 2012
July Sales Release Thurs., August 2, 2012
 

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 230 stores in 31 states, including 117 full-line stores, 109 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, including our ability to realize the anticipated benefits from such acquisitions, and the timely completion of construction associated with newly planned stores, relocations and remodels, which may be impacted by the financial health of third parties; 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; 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; 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, 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.

Nordstrom, Inc.
INVESTOR CONTACT:
Trina Schurman, 206-233-6503
or
MEDIA CONTACT:
Colin Johnson, 206-303-3036


© Business Wire 2012
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