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Nordstrom same-store sales up 10.9 percent in May



By AP
05 June 2008 @ 09:11 am EST

SEATTLE - Nordstrom Inc. said Thursday that same-store sales jumped 10.9 percent in May as the apparel retailer kicked-off a sale event earlier than last year.

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Analysts expected the company's sales to rise 8.1 percent, according to a survey by Thomson Financial.

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 ones.

Total sales rose 12.2 percent to $716 million in the four-week period ended May 31.

Nordstrom said May sales were helped by the earlier start date of the Half-Yearly Sale for Women and Kids, and that combined May and June results will provide a better comparison with last year's figures, than May sales alone.

For the year to date, same-store sales fell 2.2 percent, with total sales up 0.1 percent to $2.6 billion.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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