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Net sales fell to $1.71 billion from $1.88 billio n in 2008. In the latest quarter, the Seattl retailer (NYSE: JWN) reported a one-time benefit of $12 million, or 6 cent s per share. Excluding the benefit, Nordstrom’s earningds were $69 million, or 31 centse per share. That’s better than what analystsa predicted. Analysts polled by Thomson Reuter s First Call expected earnings of 26 centss per share and net salesof $1.69 billion. Nordstrom also increaserd its earnings guidance for fiscal 2009. For the year, Nordstrom expecte earnings between $1.25 and $1.50 per share, up from its previou guidance of $1.10 to $1.4o per share.
Company officials said they’rwe increasing guidance “to reflect increasesw in gross profit and credit card partly offset by an increase in baddebt expense.” Nordstrom opened its first full-service department store in Hawaiui at Ala Moana Center in March 2008.
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