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The Honolulu Advertiser
Updated at 2:36 p.m., Thursday, March 6, 2008

Nordstrom reports worse-than-expected sales decline

Associated Press

SEATTLE — Luxury department store Nordstrom Inc. reported a worse-than-expected decline in same-store sales for February.

The retailer said sales in its stores open for a year or more fell 5.8 percent in the month. Analysts anticipated a drop of 3.5 percent. Nordstrom plans to open its first full-line department store in Hawaii Friday at Ala Moana Center.

Nordstrom shares fell $2.59, or 6.9 percent, to $34.75, yesterday on the New York Stock Exchange.