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Cyan Mag Yelo Blk
20100444 Nordstrom
2001 Annual Report • 44pgs. + 4 covers pg. 19
8.375 x 10.875 • PDF • 150 lpi
PMS
5773
PMS
5503
19
NORDSTROM, INC. AND SUBSIDIARIES
Consolidated Statements of Earnings
Dollars in thousands except per share amounts
% of % of % of
Year ended January 31, 2001 sales 2000 sales 1999 sales
Net sales $5,528,537 100.0 $5,149,266 100.0 $5,049,182 100.0
Costs and expenses:
Cost of sales and related
buying and occupancy (3,649,516) (66.0) (3,359,760) (65.2) (3,344,945) (66.2)
Gross profit 1,879,021 34.0 1,789,506 34.8 1,704,237 33.8
Selling, general and administrative (1,747,048) (31.6) (1,523,836) (29.6) (1,429,837) (28.3)
Operating income 131,973 2.4 265,670 5.2 274,400 5.5
Interest expense, net (62,698) (1.1) (50,396) (1.0) (47,091) (0.9)
Write-down of investment (32,857) (0.6) — — — —
Service charge income and other, net 130,600 2.3 116,783 2.2 110,414 2.1
Earnings before income taxes 167,018 3.0 332,057 6.4 337,723 6.7
Income taxes (65,100) (1.2) (129,500) (2.5) (131,000) (2.6)
Net earnings $101,918 1.8 $202,557 3.9 $206,723 4.1
Basic earnings per share $0.78 $1.47 $1.41
Diluted earnings per share $0.78 $1.46 $1.41
Cash dividends paid per share $0.35 $0.32 $0.30
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.