Large retailers received more good news Monday that is reaffirming feelings that the future of the industry is looking bright, green.

Fourth-quarter 2009 after-tax profits of U.S. retail corporations with assets of $50 million and more totaled $16.3 billion, up $4.7 billion from after-tax profits of $11.6 billion in the third quarter of 2009, according to a U.S. Department of Commerce quarterly report. The number was up $19.3 billion from the after-tax losses of $3 billion recorded in the fourth quarter one year ago.

A Business Record article yesterday cited a Bloomberg report that Saks Inc. and Best Buy Co. are preparing to take advantage of the improving conditions. (Read the story about why retailers have increasing confidence)

Still the total profit was below pre-2008 levels, but was close matching 2007’s fourth quarter and approximately $3.5 billion below 2005 and 2006 fourth-quarter profits. Also, the final three quarters of 2009 were each above profit levels for the respective quarter from 2008.

After-tax profits for the corporations averaged 3 cents per dollar on fourth-quarter sales, which was up 0.7 cents from the 2.3 cents recorded in the third quarter of 2009 and up 3.6 cents from the 0.6 cent loss recorded in the fourth quarter of 2008.