The U.S. online shopping world's biggest day is here, but will strong web sales on Black Friday and Thanksgiving cut into Cyber Monday's take?
Web sales for the quarter ended May 5 stayed the same year over year. Total sales and comparable-store sales declined by 9% and 13.2%, respectively.
Web sales were flat in the first quarter for Nordstrom Inc.
For the quarter ended May 2, Nordstrom, No. 32 in the Internet Retailer Top 500 Guide, had web sales of $149 million: the same total as in the first quarter of 2008.
Total sales for Nordstrom declined 9% to $1.71 billion from $1.88 billion in Q1 of 2008. Comparable-store sales declined by 13.2%. The Internet accounted for 9% of sales in the quarter versus 8% for the same period the previous year. The retailer posted net income of $81 million compared with $119 million in the first quarter of 2008.
A downturn in spending on designer men`s wear is one factor that negatively impacted sales in the first quarter, Nordstrom says in its recently filed quarterly earnings statement with the Securities and Exchange Commission. "The largest decreases came in men`s wear, designer apparel and men`s shoes," Nordstrom says. "We have seen the decline in men`s apparel and shoes correspond with the economic downturn. In 2009, consumers continue to be conservative with their spending."