@Revolution:Global Business News

New Economy, Leadership, Entrepreneurship, Management, Global Business

Nordstrom Posts Strong Sales

Posted by iBlog on August 9, 2007

SEATTLE – Department store retailer Nordstrom Inc. said Thursday its July same-store sales increased 9.4 percent, easily beating Wall Street expectations for 4.2 percent growth.

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened locations.

Total sales for the four weeks ended Aug. 4 rose 6.9 percent to $900.5 million from $842.6 million a year earlier. The company said monthly same-store sales at rack stores grew 11.7 percent, while full-line stores showed 9.5 percent growth.

Read the full article in Forbes.com

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