USA: Nordstrom Same Store July Sales Down 1 Per Cent
Nordstrom, Inc. (NYSE:JWN) today reported that preliminary company-wide and full-line same-store sales for July 2000 decreased approximately 1 per cent. Reported same-store sales for the month of July 2000 declined 9.7 per cent compared to the month of July 1999. Preliminary reported sales totaled $534.6m for the month of July 2000, a 5.9 per cent decrease compared to sales of $568m in July 1999. Preliminary 2000 year-to-date sales of $2.6bn increased 4.6 per cent compared to 1999 year-to-date sales of $2.48bn, while year-to-date same-store sales decreased 0.3 per cent, compared to the same period in 1999. After adjusting for the aforementioned event and calendar shifts, full-line same-store sales increased in the Southwest and East Coast regions, and declined in the Northwest and Central States regions. Also on an adjusted basis, full-line same-store sales increased in cosmetics and accessories, were essentially flat in junior women's apparel and men's wear, and declined in shoes, children's apparel and women's apparel. Same-store sales in full-line stores declined 1.7 per cent during the first 11 days of the Anniversary Sale (July 21-31, 2000), compared to the same event days (July 16-26) in 1999. Nordstrom, Inc is one of the nation's leading fashion specialty retailers, with 110 stores located in 23 states, including 72 full-line stores, 32 Nordstrom Racks, three Faconnable boutiques, two free-standing shoe stores, and one clearance store. The company also serves customers online at NORDSTROM.com and NORDSTROMshoes.com, as well as through its direct mail catalogs.
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