Home / Knowledge / News / Fashion / Garments & shoes turn out to be top performers for Ross
Garments & shoes turn out to be top performers for Ross
22
May '08
Ross Stores Inc reported that earnings per share for the 13 weeks ended May 3, 2008 rose 25% to $.60, from $.48 for the 13 weeks ended May 5, 2007. First quarter 2008 results include a real estate settlement that added income equivalent to about $.02 per share during the period.

Net earnings for the first quarter of 2008 were $79.5 million, compared to $67.0 million in the first quarter of 2007. Sales for the 13 weeks ended May 3, 2008 grew 10% to $1.556 billion, with comparable store sales up 3% over the prior year.

Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "We are pleased with our solid, better-than-expected sales and earnings performance in the first quarter, especially considering the difficult retail climate.

Business benefited as customers responded favorably to the fresh and exciting assortments of name brand bargains we offered. Dresses and Shoes were the top performing merchandise categories during the period, while the Mid-Atlantic and Texas were the strongest geographic regions."

Mr. Balmuth continued, "Strong execution of our merchandising strategies, combined with strict inventory and expense management, were the primary drivers of our ahead-of-plan earnings during the quarter.

As a result, we were able to realize healthy increases in operating margin, which grew about 45 basis points to 8.2%. Profit margins benefited mainly from better-than-expected improvement in merchandisemargins, lower distribution and corporate expenses as a percent of sales and income from a real estate settlement."


Must ReadView All

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Top executives
Textile industry

It will take some time for the people to change their buying choices

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search