Nordstrom (JWN) Aug. Comps Up 21%, Versus Expected 11.2%
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Nordstrom, Inc. (NYSE: JWN) reported August sales, which reflected a shift in timing of the Anniversary Sale event, historically the Company’s largest sale event of the year. The event started one week later in July compared with last year. As a result, eight days of the event occurred in August this year compared to one day in 2011. For the period of July and August 2012 combined, same-store sales increased 8.4 percent.
The Company reported a 21.0 percent increase in same-store sales for the four-week period ended August 25, 2012 compared with the four-week period ended August 27, 2011. Wall Street was looking for a rise of 11.2 percent. Preliminary total retail sales of $866 million for August 2012 increased 25.2 percent compared with total retail sales of $691 million for the same period in fiscal 2011.
In September, Nordstrom plans to open four Nordstrom Rack stores at Manchester Highlands in Manchester, Mo.; Tysons Corner, Va.; Carmel Mountain Plaza in San Diego, Calif.; and Edinger Plaza in Huntington Beach, Calif. In addition, Nordstrom plans to relocate its Nordstrom Rack store at the Mall at the Source in Long Island, N.Y. to the nearby Gallery at Westbury Plaza.
The Company reported a 21.0 percent increase in same-store sales for the four-week period ended August 25, 2012 compared with the four-week period ended August 27, 2011. Wall Street was looking for a rise of 11.2 percent. Preliminary total retail sales of $866 million for August 2012 increased 25.2 percent compared with total retail sales of $691 million for the same period in fiscal 2011.
In September, Nordstrom plans to open four Nordstrom Rack stores at Manchester Highlands in Manchester, Mo.; Tysons Corner, Va.; Carmel Mountain Plaza in San Diego, Calif.; and Edinger Plaza in Huntington Beach, Calif. In addition, Nordstrom plans to relocate its Nordstrom Rack store at the Mall at the Source in Long Island, N.Y. to the nearby Gallery at Westbury Plaza.
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