November 14, 2008
Nordstrom’s Q3 Net Earnings Down
Nordstrom, a specialty retailer of apparel, shoes, cosmetics and accessories, has reported net earnings of $71 million, or $0.33 per diluted share, for the third quarter ended November 1, 2008, compared to $166 million, or $0.68 per diluted share, in the same quarter of fiscal 2007.
For the third quarter of fiscal 2008, total sales were $1.81 billion, an 8.4% decrease, compared to $1.97 billion in the same quarter of fiscal 2007. Same-store sales decreased 11.1% for the third quarter of fiscal 2008.For the first nine months of fiscal 2008, net sales were $5.97 billion, compared to $6.31 billion in the same period of fiscal 2007. Net earnings were $333 million, or $1.52 per diluted share, compared to $503 million, or $1.98 per diluted share, in the same period of fiscal 2007.