Nordstrom Sales Fall 9.4% in September
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Nordstrom Inc. said sales at its stores open at least a year fell 9.4% in September from a year earlier, as business was hurt by the Sept. 11 terrorist attacks on the United States.
Nordstrom, along with other high-end retailers, has seen sales suffer as consumers cut back on purchases of nonessential items after the attacks.
The September data include three days of sales from an extraordinary 10-day promotional event. Excluding those days, same-store sales were down 15.2%, the company said.
Nordstrom, which had reported a 2.8% drop in August same-store sales, said it will hold a conference call today to update investors on its third-quarter earnings guidance.
Analysts polled by Thomson Financial/First Call on average expect the retailer to report third-quarter earnings of 10 cents a share. Their estimates ranged from 3 cents to 19 cents. In the third quarter last year, the retailer earned 18 cents.
Nordstrom shares fell 52 cents to $15.46 on the New York Stock Exchange. The news was reported after the markets closed.
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