DALLAS, May 20, 2004/ FW/ --- 2004 is turning out to be a very good year for Nordstrom. The specialty retailer reported today net earnings of $68.7 million, or $0.48 per diluted share for the first quarter. For the same period last year, net earnings and earnings per diluted share were $27.2 million and $0.20, respectively, an impressive 153% increase.

The 2004 results include $20.8 million or $0.08 per share of interest expense related to retirement of debt during the quarter.

Total sales for the first quarter of 2004 increased 16.6 percent, to $1.5 billion, compared to sales of $1.3 billion in the same period last year. First quarter 2004 same-store sales increased 13.2 percent.

Earnings increased 153 percent in the first quarter compared to the same quarter last year, ahead of expectations and reflecting ongoing fundamental improvement in performance. The company continues to deliver operating improvements in all aspects of its business including merchandising, inventory productivity and expense management.

Early this month, the Seattle-based retailer reported sales of $491.7 million for April, an increase of 12.4% compared to sales of $437.5 million last year. Same-store sales increased 10.0 percent.