Nordstrom, Inc. (NYSE:JWN) shares took a hit as the company reported on its fourth quarter and full year, with net income declining during the fourth quarter.

The retailer reported quarterly earnings of $151 million, a decline compared to the $201 million it brought in during the year-ago quarter. On a per-share basis, the company earned 89 cents per share, a figure that was affected by changes in the corporate tax law that included a charge of 25 cents per share.

On an adjusted basis, Nordstrom earned $1.20 per share, which came in four cents below the $1.24 per share that analysts were modeling, according to Zacks Investment Research. Revenue was 8.4% higher year-over-year at $4.6 billion, also below the Wall Street consensus estimate of $4.62 billion, per Zacks.

For the year, the company posted net income of $437 million, or $3.55 per share, while revenue was$15.14 billion, an increase of 4.4% compared to the year-ago quarter. The retailer’s Nordstrom Rack off-price business brought in 6 million new customers, with roughly one-third of these customers expected to eventually move over to the main Nordstrom brand.

Nordstrom Rewards customers grew by 35% to 10.5 million, as sales from this segment tallied up to 51% of all sales, a 44% gain year-over-year.

For its fiscal 2018, the company projects earnings in the range of $3.30 to $3.55 per share, while revenue is slated to range between $15.2 billion and $15.4 billion.

JWN stock declined 4.3% after the bell Thursday.