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FSG’s Action Sports Practice Group provides legal services to the action sports industry. Our clients include surfers, skiers, snowboarders and skaters, as well as sponsors and leading apparel companies. Our attorneys serve in positions with industry organizations such as the Association of Surfing Professionals. We know your business and can provide full-service legal solutions to meet your organizational needs.

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Tiffany Montgomery
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Details from Nordstrom’s Q3 conference call

By Tiffany Montgomery
November 20, 2007 5:21 AM

Nordstrom is increasingly carrying surf and skate brands, so here are some interesting bits of information from the company's third quarter results

Financials

Same-store sales rose 2.2 percent


Adjusted earnings rose 7 percent to $145 million (excluding the sale of Facconable division)


Total sales rose 5.3 percent to $2 billion


Department, region report

Strong departments: designer, accessories and men's


Kids "solid"


Weak departments: Women's apparel at better price points


Best regions: South, Midwest, Northwest


Other notes

It cleared out excess inventory in women's during the quarter.


It has observed an uptick in credit card delinquencies but still below industry averages.


Nordstrom will open eight new full-line stores in 2008 and remodel another.


Guidance

Nordstrom lowered Q4 same-store sales guidance to flat, down from a 2 to 3 percent increase.


The company lowered guidance because it saw slower sales in August, September and October.


More on: Nordstrom, earnings, sales

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