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Solid performance of Ross Stores during holiday season
11 Jan '08
2 min read
Ross Stores Inc reported sales of $755 million for the five weeks ended January 5, 2008, a 12% increase over the $677 million in sales for the five weeks ended January 6, 2007. Same store sales for the five weeks ended January 5, 2008 increased 3% over the five weeks ended January 6, 2007.
For the eleven months ended January 5, 2008, sales were $5.625 billion, a 9% increase over the $5.164 billion in sales for the eleven months ended January 6, 2007. Comparable store sales for the eleven months ended January 5, 2008 rose 1% over the eleven months ended January 6, 2007.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "We are pleased with our solid performance during the important holiday period. Despite the competitive climate, customers responded favorably to the wide array of attractive and compelling bargains throughout our stores, driving better-than-expected sales and gross margin for the month.
The strongest regions in December were the Northwest and Texas, while California same store sales increased a solid 3%, in line with the total company. Outerwear, Dresses and Shoes were the top performing businesses."
Looking ahead, Mr. Balmuth said, "Based on favorable sales and margin trends quarter-to-date, we are now forecasting earnings per share for the 13 weeks ending February 2, 2008 to be $.68 to $.69, compared to our previous guidance of $.62 to $.68.
Prior year earnings per share for the 14weeks ended February 3, 2007 were $.66, which included income equivalent to about $.07 per share related to the 53rd week in fiscal 2006. Our updated 2007 fourth quarter forecast also assumes that January same store sales are up 1% to 3%, in line with our prior guidance."
For the eleven months ended January 5, 2008, sales were $5.625 billion, a 9% increase over the $5.164 billion in sales for the eleven months ended January 6, 2007. Comparable store sales for the eleven months ended January 5, 2008 rose 1% over the eleven months ended January 6, 2007.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "We are pleased with our solid performance during the important holiday period. Despite the competitive climate, customers responded favorably to the wide array of attractive and compelling bargains throughout our stores, driving better-than-expected sales and gross margin for the month.
The strongest regions in December were the Northwest and Texas, while California same store sales increased a solid 3%, in line with the total company. Outerwear, Dresses and Shoes were the top performing businesses."
Looking ahead, Mr. Balmuth said, "Based on favorable sales and margin trends quarter-to-date, we are now forecasting earnings per share for the 13 weeks ending February 2, 2008 to be $.68 to $.69, compared to our previous guidance of $.62 to $.68.
Prior year earnings per share for the 14weeks ended February 3, 2007 were $.66, which included income equivalent to about $.07 per share related to the 53rd week in fiscal 2006. Our updated 2007 fourth quarter forecast also assumes that January same store sales are up 1% to 3%, in line with our prior guidance."
Ross Stores Inc
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