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Nordstrom Reports Third Quarter Earnings

Specialty retailer’s same-store sales drop 11 percent



Nordstrom Inc. (Seattle) reported total sales in the third quarter ended November 1, 2008, were $1.81 billion, a decrease of 8.4 percent compared with sales of $1.97 billion during the same period in fiscal 2007.

The company reported same-store sales decreased 11.1 percent for the quarter, while same-store sales in full-line stores decreased 15.6 percent. Off-price retailer Nordstrom Rack saw same-store sales increase 3.6 percent. The company anticipates same-store sales will decrease 9 to 10 percent for the fiscal year ending January 31, 2009.

Based on current economic conditions and delays in real estate development, Nordstrom expects to relocate one full-line store and open three new full-line stores in 2009 and up to five new full-line stores in 2010.




MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

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Founder and Creative Director, Quinine Design

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