Nordstrom Q4 Profit Declines; Guides Q1, FY08 - Quick Facts2

(RTTNews) - Nordstrom Inc. (JWN | news | PowerRating | PR Charts ) reported fourth quarter net earnings of $212 million or $0.92 per share, compared to $232 million or $0.89 per share in the year ago quarter.

Total sales in the fourth quarter were $2.5 billion, a decrease of 4.4% compared to sales of $2.6 billion for the same period in fiscal 2006.

Same-store sales decreased 0.7% for the quarter compared to the company's approximately flat same-store sales plan.

Excluding the extra week of sales in the fourth quarter of 2006, total sales were approximately flat in the fourth quarter of 2007.

Analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.88 per share on revenues of $2.53 billion for the quarter.

For the first quarter of 2008, the company expects a decline of 3% - 5% in same-store sales. Earnings per share for the first quarter are expected in the range of $0.49 to $0.54.

Analysts expect the company to report earnings of $0.59 per share for the first quarter.

For fiscal 2008, the company expects earnings to be in the range of $2.75 to $2.90 per share. The company expects a flat to a 2% decrease in Same-store Sales. Analysts expect the company to report earnings of $2.98 per share for fiscal 2008.

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