
The full fiscal year results were nearly as impressive.
Net sales for the fourth quarter were $34.75 billion, an increase of nine percent from $31.77 billion in fiscal 2013. Net sales for the fiscal year were $110.21 billion, an increase of seven percent from $102.87 billion last year.
Net income for the fourth quarter was $697 million, or $1.58 per diluted share, compared to $617 million, or $1.40 per diluted share, last year. Net income for the fiscal year was $2.06 billion, or $4.65 per diluted share, compared to $2.04 billion, or $4.63 per diluted share, in fiscal year 2013. Net income last year was positively impacted by a $62 million ($.14 per diluted share) tax benefit in connection with the portion of the special cash dividend paid in December 2012 to the Company 401(k) plan participants.
By contrast, same-store sales at Target Corp. (NYSE: TGT) and Wal-Mart Stores Inc. (NYSE: WMT) have struggled to stay above 2%.