Nordstrom (JWN) Reports January Same Store Sales

Nordstrom, Inc. (NYSE: JWN) reported preliminary sales of $486.3 million for the four-week period ended February 2, 2008, compared to sales of $610.1 million for the five-week period ended February 3, 2007. Same-store sales decreased 6.6 percent and total sales decreased 20.3 percent. Notably, the 2006 fiscal calendar had 53 weeks compared to the company's normal operating calendar of 52 weeks. As a result, both the previous January sales period and the fourth quarter of fiscal 2006 had one additional week compared to the same periods in fiscal 2007. Excluding the extra week of sales in January of fiscal 2006 for comparative purposes, January total sales decreased 1.2% in fiscal 2007. The extra week of sales affects the total sales calculations, but does not affect same-store sales calculations.

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