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Nordstrom earnings doubled in fourth quarter

Nordstrom reported net income of $172 million for the fourth quarter, an increase of 152 percent compared with the same quarter last year. Fourth quarter same-store sales increased 6.9 percent compared with the same period in fiscal 2008. Net sales in the fourth quarter were $2.54 billion, an increase of 10.3 percent compared with the same period in fiscal 2008. The retailer’s Nordstrom Rack outlet stores posted a same-store sales increase of 4.6 percent in the fourth quarter compared with the same period in fiscal 2008.

Compiled by the staff of Shopping Centers Today. © February 23, 2010 International Council of Shopping Centers.