Nordstrom, Inc. reported fiscal 2014 earnings per diluted share of $3.72, which was in-line with the company's full-year outlook of $3.70 to $3.75.
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During the year, the company opened three full-line stores, including its first store in Canada, and 27 Nordstrom Rack stores, launched Nordstromrack.com and acquired Trunk Club.
These growth initiatives contributed to net sales growth of 7.8 percent compared with the same period last year. Comparable sales increased 4.0 percent in fiscal 2014, exceeding the company's full-year outlook of approximately 3.5 percent.
For the fourth quarter ended January 31, 2015, earnings per diluted share were $1.32 compared with $1.37 for the same quarter last year. Net sales increased 9.0 percent and comparable sales increased 4.7 percent compared with the same period last year.
Fourth quarter net earnings were $255 million compared with $268 million during the same period last year. Earnings before interest and taxes were $465 million, or 11.8 percent of net sales, compared with $487 million, or 13.5 percent of net sales, for the same quarter last year. The Trunk Club acquisition reduced earnings before interest and taxes in the fourth quarter of 2014 by $11 million.
Total company net sales of $3.9 billion for the fourth quarter increased 9.0 percent compared with net sales of $3.6 billion during the same period in fiscal 2013. Total company comparable sales for the fourth quarter increased 4.7 percent on top of last year's increase of 2.6 percent.
Full year net earnings were $720 million compared with $734 million last year. Earnings before interest and taxes were $1,323 million, or 10.1 percent of net sales, compared with $1,350 million, or 11.1 percent of net sales last year. The Trunk Club acquisition reduced earnings before interest and taxes in fiscal 2014 by approximately $25 million.
Total company net sales of $13.1 billion increased 7.8 percent compared with net sales of $12.2 billion in fiscal 2013. Total company comparable sales increased 4.0 percent on top of last year's increase of 2.5 percent. ■