Nordstrom Reports Drop In Earnings

The Nordstrom Inc. retail apparel chain reported increased sales for the fourth quarter and all of fiscal 1995, but said Wednesday earnings were down significantly for both periods.

“Last year was a challenge,” said the company’s executive vice president, John Goesling.

Earnings dropped 22.5 percent for the quarter ended Jan. 31, to $54.1 million from the $69.8 million reported for the same period last year. On a per-share basis, earnings dropped from 85 cents to 67 cents.

Sales for the latest quarter were $1.24 billion, up 4.3 percent from the year-earlier period.

For fiscal 1995, earnings dropped 18.6 percent, to $165.1 million, while per-share earnings declined to $2.02 from $2.47.

Sales for the year increased 5.6 percent, to $4.11 billion.