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Home > Fortune 500 Companies > Nordstrom, Inc.
Nordstrom, Inc.
Nordstrom, Inc is a publicly traded company having a good stock performance result. Nordstrom, Inc is a fortune 500 stock listed company trading under JWN. Nordstrom has grown from one downtown Seattle shoe store into a nationwide fashion specialty chain with renowned services, generous size ranges and a selection of the finest apparel, shoes and accessories for the entire family.
Nordstrom, Inc. reported net earnings of 107.5 million dollars, or 0.39 dollars per diluted share, for the third quarter ended October 29, 2005. For the same period last year, net earnings and earnings per diluted share were 77.8 million dollars and 0.27 dollars, respectively.
Total sales for the third quarter of 2005 increased 8.0 percent, to 1.7 billion dollars, compared to sales of 1.5 billion dollars in the same period last year. Third quarter same store sales increased 5.9 percent.
Year to date net earnings increased 42 percent to 360.9 million dollars for the period ended October 29, 2005, compared to net earnings of 253.5 million dollars for the same period last year. Earnings per share for the same periods were 1.30 dollars and 0.89 dollars, respectively. Year to date total sales increased 7.9 percent to 5.4 billion dollars compared to prior year sales of 5.0 billion dollars. Same store sales increased 6.1 percent.
Nordstrom repurchased approximately 4,703,000 shares of common stock during the third quarter for a total of 172.4 million dollars. The resulting reduction in weighted average shares outstanding increased diluted earnings per share approximately 0.01 dollars for the quarter.
The fiscal year ending January 28, 2006, the company is raising its prior earnings per share outlook of 1.80 dollars-1.90 dollars to 1.90 dollars -1.95 dollars. This would represent a 38 to 41 percent increase over the prior year. For the fourth quarter, the company expects low single digit same store sales growth and earnings per share in the range of 0.60 dollars to 0.65 dollars.
The company's philosophy has remained unchanged for more than 100 years since its establishment by John W. Nordstrom in 1901; offer the customer the best possible service, selection, quality and value.
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