Nordstrom 4th-quarter net income rises
Revenue rose 13 percent to $3.7 billion, which matched analysts' expectations.
Overall revenue in stores open at least a year rose by 6.3 percent. The measure is a key gauge of a retailer's financial health because it excludes stores that opened or closed during the year.
That metric rose 2.2 percent at its department stores.
Nordstrom Rack, which opened 15 stores in fiscal 2012, continued to show strong sales growth in the fourth quarter. Revenue at stores opened at least a year rose 7.1 percent for the Rack, which is its largest fourth-quarter increase in the past six years.
For the full year net income rose 8 percent to $735 million, or $3.56 per share, from $683 million, or $3.14 per share.
Revenue rose 12 percent to $12.1 billion from $11.76 billion a year ago.
For the upcoming fiscal year, Nordstrom expects net income of $3.65 to $3.80 per share on revenue up 4.5 percent to 6.5 percent. Analysts expect net income of $3.97 per share.
Shares fell $1.27, or 2.3 percent, to $53.25 in aftermarket trading. The stock ended the regular session down 63 cents at $54.42.
Business Photo Galleriesview all
- 14891OKC Thunder: Thunder trio praise fans before potential departures
- 9440Oklahoma State football: Todd Monken thinks Wes Lunt should've stayed in Stillwater
- 6703Oklahoma medical examiner reports cause of deaths in Grand Lake boat crash
- 6232Student shot dead during botched home invasion
- 6155Soaring gasoline prices hurt Oklahoma City area retailers
- 6060Oklahoma football: Sooners get pair of commitments
- 4124As Boy Scouts' vote on gay members nears, faith groups weigh in