January comparable store sales (comps) for leading fashion
), surpassed analyst projections driven by robust performance at
both its store concepts.
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Comparable-store sales increased 11.4% compared with the year-ago
period. Comps for the company's full-line segment were up 13.7%,
while comps at Nordstrom Rack recorded an increase of 9.0%. All
comps numbers reported in January excluded the additional 53rd
week in fiscal 2012.
Preliminary total retail sales for the five weeks ended Feb 2,
2013, climbed 38.4% to $951 million from $688 million reported
for the four-weeks ended Jan 28, 2012. Excluding the sales from
the additional week, monthly sales for the four-weeks ended Jan
26, 2013 rose 14.9%.
This Zacks Rank #3 (Hold) stock's performance for the fourth
quarter of fiscal 2012 also remained strong with comps increasing
6.3% compared to the year-ago period. The comps improvement was
driven by a 6.1% gain at the full-line stores as well as a 7.1%
increase at Nordstrom Rack stores. Preliminary total retail sales
grew 13.5% to $3,596 million.
For fiscal 2012, Nordstrom's preliminary total retail sales
elevated 12.1% to $11,762 million driven by a 7.3% increase in
comparable-store sales. During the period, the company's
comparable store sales at Nordstrom full-line and Nordstrom Rack
segments augmented 7.5% and 7.4%, respectively.
Concurrently, 3 other retailers -
Ross Stores Inc.
) - reported same-store sales for the month of January. Comps
growth at Ross Stores, Macy's and Gap were 4%, 11.7% and 8%,
Geared Up for More Stores
Nordstrom laid down plans to inaugurate a full-line store in the
fall of 2015 at Ridgedale Center in Minneapolis, Minn. Further,
the company aims to open 2 Nordstrom Rack stores in fall 2013, at
The Mercato in Naples, Fla. and at Perimeter Expo shopping center
in Atlanta, Ga.