Nordstrom September sales up 4%
The company's same-store sales increased by 3.2% compared to the same period last year. Blake Nordstrom, president of Nordstrom, said: "We are pleased to report positive same store sales during a month that appeared to be challenging for our industry. While we did experience positive same store sales growth, we did not achieve our plan. In addition, we entered the quarter with inventory levels above our plan and our below-plan sales performance put additional pressure on inventory levels. We are taking immediate action to bring inventory levels in line, which will negatively impact merchandise margins for the remainder of the year."