Nordstrom key Jan. revenue figure climbs

Nordstrom key January revenue metric rises, tops Wall Street's expectations

Associated Press

SEATTLE (AP) -- Luxury retailer Nordstrom said Thursday that sales at stores open at least a year climbed 11.4 percent in January.

That topped the 6 percent rise that analysts polled by Thomson Reuters expected.

Sales at stores open at least a year, or same-store sales, is a key indicator of a retailer's health because it excludes stores recently opened or closed.

The company said that it had an extra selling week in fiscal 2012. That extra week was excluded from same-store sales.

For the five weeks ended Feb. 2, total revenue rose 38.4 percent to $951 million. Taking out the extra week, total revenue rose 14.9 percent.

Fourth-quarter same-store sales increased 6.3 percent. Total revenue rose 13.5 percent to $3.6 billion. Analysts surveyed by FactSet expected sales of $3.63 billion.

Fiscal 2012 same-store sales climbed 7.3 percent, with total sales up 12.1 percent to $11.76 billion.

Nordstrom Inc. plans to report its fourth-quarter financial results on Feb. 21. It has 240 stores in 31 states.

The Seattle company's stock fell 72 cents to $54.55 in morning trading.

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