By Robb M. Stewart

Soon to be privatized department store chain Nordstrom logged stronger-than-expected underlying earnings and sales in the latest quarter.

Nordstrom's net earnings rose to $165 million, or 97 cents a share, for the fiscal fourth quarter from $134 million, or 82 cents, a year earlier.

Stripping out privatization fees and an accelerated technology depreciation charge, adjusted per-share earnings came in at $1.10, beating the 93 cents mean forecast of analysts polled by FactSet.

Revenue for the 13 weeks to Feb. 1 totaled $4.32 billion versus $4.42 in the 14-week period a year earlier and ahead of the $4.28 billion analysts had anticipated.

Sales for the quarter were down 2.1%, but on a comparable same-store basis they were up 4.7% against a realigned 13-week quarter last year. Nordstrom said women's apparel, active and men's apparel had the strongest growth over a year earlier.

Chief Executive Erik Nordstrom said customers responded positively to the strength of the company's offerings across its Nordstrom and Nordstrom Rack banners.

Nordstrom in December reached a take-private deal with members of the Nordstrom family and Mexico's El Puerto de Liverpool. The transaction is expected to close in the first half of 2025, subject to conditions, including approval by shareholders.

Given the pending transaction, the company said it isn't providing a fiscal 2025 financial outlook.

Nordstrom opened 23 stores over the fiscal year and in the final quarter it closed one Nordstrom store and three Nordstrom Rack stores. As of Feb. 1, the store count stood at 377.

The company's shares were little changed ahead of the opening bell, down 0.1% in premarket trading. The stock ended Monday at $24.24, up 0.4% so far in 2025 and 18% higher over the last 12 months.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

March 04, 2025 09:02 ET (14:02 GMT)

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