Nordstrom 2001 Annual Report Download - page 18

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20200324 NORDSTROM
2001 Annual Report • VERSION
8.375 x 10.875 • SCITEX • 175 lpi • Kodak 80# Cougar
16 NORDSTROM INC. AND SUBSIDIARIES
Consolidated Statements of Earnings
Dollars in thousands except per share amounts
% of % of % of
Year ended January 31, 2002 sales 2001 sales 2000 sales
Net sales $5,634,130 100.0 $5,528,537 100.0 $5,149,266 100.0
Cost of sales and related
buying and occupancy (3,765,859) (66.8) (3,649,516) (66.0) (3,359,760) (65.2)
Gross profit 1,868,271 33.2 1,879,021 34.0 1,789,506 34.8
Selling, general and administrative (1,722,635) (30.6) (1,747,048) (31.6) (1,523,836) (29.6)
Operating income 145,636 2.6 131,973 2.4 265,670 5.2
Interest expense, net (75,038) (1.4) (62,698) (1.1) (50,396) (1.0)
Write-down of investment — —(32,857) (0.6) — —
Service charge income and other, net 133,890 2.4 130,600 2.3 116,783 2.2
Earnings before income taxes 204,488 3.6 167,018 3.0 332,057 6.4
Income taxes (79,800) (1.4) (65,100) (1.2) (129,500) (2.5)
Net earnings $124,688 2.2 $101,918 1.8 $202,557 3.9
Basic earnings per share $0.93 $0.78 $1.47
Diluted earnings per share $0.93 $0.78 $1.46
Cash dividends paid per share $0.36 $0.35 $0.32
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.