(Filed Under Financial and General Interest News). Nordstrom Inc. cited a 35 percent net earnings increase during the fourth quarter ended January 29, 2011; to $232 million, or $1.04 per diluted share. During last year’s fourth quarter, the company’s net earnings were $172 million, or 77 cents per diluted share.
Same-store sales increased 6.7 percent, while multi-channel same store sales were up 7.2 percent. Net sales increased 10.9 percent, to $2.82 billion.
For fiscal 2010 ended the same day, net earnings were $613 million, a 39 percent increase. Same-store sales increased 8.1 percent, and net sales were a record $9.31 billion, a 12.7 percent increase.
In fiscal 2011, the company plans to open three full-line stores and 19 Nordstrom Racks. It expects same-store sales to increase 2 to 4 percent to yield earnings per share in the range of $2.95 and $3.10 for the full year.
Nordstrom currently operates 204 stores in 28 states, including 115 full-line stores, 86 Nordstrom Racks, two Jeffrey boutiques and one clearance store.
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