By  on February 23, 2009

Upscale department store chain Nordstrom Inc. said Monday fourth-quarter earnings dropped more than two-thirds and forecast double-digit declines in sales and earnings in 2009.

For the three months ended Jan. 31, net income fell 67.9 percent to $68 million, or 31 cents a diluted share, from $212 million, or 92 cents, in the comparable 2007 quarter. The quarterly profit beat analysts’ projections by a penny.

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