Nordstrom key sales metric up 9.8 pct in October

Associated Press

SEATTLE (AP) — Nordstrom Inc. said Thursday that sales in stores open at least one year rose 9.8 percent in October on strong demand for women's, men's and children's apparel.

Analysts polled by Thomson Reuters expected an increase of 6 percent. The metric is a key measure of a retailer's health, because it excludes sales at stores that opened or closed during the past year.

Total sales for the four-week period ended Oct. 27 rose 11.5 percent to $835 million. The company said its sales were strongest at stores in the Midwest and Northwest.

For the third quarter, sales at stores open at least a year increased 10.7 percent. Total sales rose 13.8 percent to $2.71 billion.

For the year-to-date, same store sales rose 7.7 percent, while total sales increased 11.4 percent to 8.17 billion.

The Seattle retailer operates 117 department stores, unchanged from a year ago, and 121 Nordstrom Rack outlet stores, up by 13 locations.

Nordstrom shares rose 49 cents to $57.26 in morning trading.