Nordstrom Inc. (JWN:NYSE)

Nordstrom Inc. announced that its board of directors approved a quarterly dividend of $0.16 per share payable on December 15, 2009, to shareholders of record on November 30, 2009.

Nordstrom Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended October 31, 2009. The company reported net earnings of $83 million, or $0.38 per basic and diluted share, for the third quarter ended October 31, 2009. For the same quarter last year, Nordstrom reported net earnings of $71 million, or $0.33 per basic and diluted share. Third quarter same-store sales decreased 1.2% compared with the same period in fiscal 2008. Net sales in the third quarter were $1.87 billion, an increase of 3.5% compared with net sales of $1.80 billion during the same period in fiscal 2008. The company reported earnings before interest and income taxes of $172 million and earnings before income taxes of $134 million on total revenues of $1,963 million compared to earnings before interest and income taxes of $127 million and earnings before income taxes of $94 million on total revenues of $1,879 million for the same period of last year. For the nine months, the company reported earnings before interest and income taxes of $524 million and earnings before income taxes of $419 million on total revenues of $5,987 million compared to earnings before interest and income taxes of $623 million and earnings before income taxes of $525 million on total revenues of $6,187 million for the same period of last year. The company reported net earnings of $269 million or $1.23 per diluted share on net sales of $5,719 million compared to net earnings of $333 million or $1.52 per diluted share on net sales of $5,971 million for the same period of last year. The company reported net cash provided by operating activities of $801 million and CapEx of $281 million compared to net cash provided by operating activities of $454 million and CapEx of $439 million for the same period of last year. The company expects to open 3 full-line stores and approximately 15 Nordstrom Rack stores in 2010. In 2011, the company expects to open 2-3 full-line stores and 13-15 Nordstrom Rack stores. Also in the fourth quarter, the company plans to open a Nordstrom Rack store at Rookwood Pavilion in Cincinnati, Ohio. The company is updating its outlook for the 2009 fiscal year due to the improved performance in the third quarter, as well as the improved outlook for the remainder of the year. For the 2009 fiscal year, the company expects earnings per diluted share in the range of $1.83 to $1.88, increased from the previous range of $1.50 to $1.65. The company expects same-store sales decreased from 7% to 6% when compared to same period of last year. The company's capital expenditures, net of property incentives, are expected to total between $325 and $375 million in fiscal year 2010, compared to approximately $280 million in fiscal year 2009.

Nordstrom Inc. provides cash flow guidance for the year 2009. The company expects free cash flow to exceed $300 million for 2009. The company expects net capital expenditures should total approximately $280 million for 2009.