Nordstrom Q4 Profits Gain 22 Pct.

SEATTLE – Nordstrom Inc. said Monday that its fourth-quarter net profit rose 22 percent in the period that includes the crucial holiday season.

For the quarter ended Feb. 3, the clothing retailer reported net income of $232.3 million, or 89 cents a share, up from $190.4 million, or 69 cents per share, for the same period last year.

Quarterly sales increased 14.6 percent to $2.6 billion, from $2.3 billion last year. Quarterly same-store sales grew 8.3 percent.

Analysts polled by Thomson Financial were predicting earnings of 90 cents per share on sales of $2.6 billion.

For the full year, Nordstrom said profits grew 23 percent to $678 million, or $2.55 a share, compared with $551 million, or $1.98 per share a year ago.

Nordstrom shares fell $1.48, or 2.6 percent, to close at $56.60 on the New York Stock Exchange, before gaining 15 cents in after-hours trading Monday. The stock has traded between $31.77 and $59.70 in the past year.

Nordstrom said a stock-based compensation expense of $8.4 million lowered fourth-quarter earnings by 2 cents a share. The expense was included in analysts’ consensus estimate.

The retailer also said it plans to open three Nordstrom stores in 2007, and one Nordstrom Rack discount store.

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