Nordstrom Closes Book on Strong 2003

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Impressive results were contained in quarterly and year-end numbers released yesterday by Nordstrom Inc., Seattle.


The company generated net earnings of $104.3 million in the 2003 fiscal fourth quarter, which ended Jan. 31, up from $60 million for the same period in the prior year.


Fourth-quarter 2003 same-store sales increased 8.5 percent. Net sales for the quarter ended Jan. 31 totaled $1.93 billion, up from $1.75 billion a year ago.


During fiscal 2003, net earnings were $242.8 million compared with $90.2 million for fiscal 2002.


The company said it generated the strongest comp-store sales and gross margin performance in 10 years. Full-year same-store sales increased 4.3 percent.


Also yesterday, 1-800-Flowers.com, Westbury, NY, reported record customer demand for the Valentine's Day period, Jan. 27 to Feb. 14, fulfilling more than 800,000 orders.


The Valentine's Day period is the company's third largest in terms of revenue, following the December holiday period and the spring season that includes Easter, Passover, Mother's Day and Father's Day.


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