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Nordstrom achieves record sales for fiscal year 2010

21 Feb '11
4 min read

Full year same-store sales increased 8.1 percent compared with fiscal 2009. Net sales for the year were a record $9.31 billion, an increase of 12.7 percent compared with prior year net sales of $8.26 billion.

In fiscal 2011, the company's capital expenditures, net of property incentives, are expected to total between $400 and $440 million, compared with approximately $304 million in fiscal 2010.

During the fourth quarter of 2010, the company opened a 36,000-square-foot Nordstrom Rack store at Arrowhead Crossing in Peoria, Arizona. In 2011, Nordstrom has announced plans to open the following stores:

In fiscal 2011, Nordstrom plans to build from its strong financial framework to improve profitability, enhance free cash flow, increase return on invested capital and maintain a healthy balance sheet. For the 2011 fiscal year, Nordstrom expects same-store sales to increase 2 to 4 percent, which yields earnings per share in the range of $2.95 to $3.10 for the full year.

In 2011, the company will report same-store sales for the total company, Nordstrom and Nordstrom Rack, which is consistent with our branding. "Nordstrom" (formerly referred to as "Multi-channel") includes Nordstrom full-line stores and Direct. The consolidation of full-line and Direct sales reflects the company's recognition that the customer does not differentiate between the two channels, and is consistent with how the company plans and manages the business.

Nordstrom Inc

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