Nordstrom (JWN) November Comps Fell 1.1%

November 29, 2012 8:28 AM EST Send to a Friend
Nordstrom, Inc. (NYSE: JWN) reported a 1.1 percent decrease in same-store sales for the four-week period ended November 24, 2012 compared with the four-week period ended November 26, 2011. Preliminary total retail sales of $926 million for November 2012 increased 1.8 percent compared with total retail sales of $910 million for the same period in fiscal 2011.

Sales were weaker in the first half of the month, largely attributable to a lower than planned Half-Yearly Sale for Women and Kids. Customers continue to demonstrate a strong preference for fashion and newness, which has made clearance events less compelling. Sales also were unfavorably impacted by store closures in the Northeast and Mid-Atlantic regions due to Hurricane Sandy. Sales trends in the second half of the month rebounded to their recent historical level.

Year-to-date same-store sales increased 6.7 percent compared with the same period in fiscal 2011. Preliminary year-to-date total retail sales of $9.09 billion increased 10.4 percent compared with total retail sales of $8.24 billion for the same period in fiscal 2011.


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