Centennial Struggle

In its 100th year of business, Nordstrom has reported a 9.5 percent sales increase for the month of March 2001. However, same-store sales declined 1.1 percent. Adjusting for the fact that March 2001 had more weekends than the previous year, the sales increase dropped to 6.1 percent and the same-store sales decline reached 4.3 percent. Adjusted same-store sales in full-line stores declined in all regions, but increased in the women's, junior women's and cosmetics merchandise categories.

Preliminary year-to-date sales figures for the Seattle-based specialty retailer show an 8 percent increase in total sales and a 2.4 percent decrease in same-store sales. compared to 2000 year-to-date sales of $735.8 million.

It has been a rough 12 months for Nordstrom, full of disappointing sales results, missed financial expectations, slowed-down expansion plans and management changes. In February, the retailer reported a 1.9 percent same-store sales decline for the all-important fourth quarter of its fiscal year 2000 and a 0.3 percent increase in same-store sales for the year.