Department Stores

Nordstrom, Inc.

The Company

As of January, Nordstrom <% if gsSubBrand = "aolsnapshot" then Response.Write("(Nasdaq: NOBE)") else Response.Write("(Nasdaq: NOBE)") end if %> operated 62 large specialty stores in 17 states. The company also operates 19 stores under the name "Nordstrom Rack" and one clearance store that serve as outlets for clearance merchandise from the company's large specialty stores. The Racks also purchase merchandise directly from manufacturers. Nordstrom has the best leverage situation of any department store and sports a respectable Return on Equity (ROE) of 11%. Analysts' upgrades in recent days have moved the stock forward, brushing up against its 52-week high.

Latest Financials

Nordstrom reported higher net income and sales for the first quarter ended April 30, 1997. For the quarter, net income was $32.3 million, a 24.9% increase from net income of $25.9 million in last year's first quarter. Earnings per share grew to $0.41 versus $0.32 last year. Net sales grew 5.3% to $953.7 million from $906.0 million a year ago.

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