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Ross Stores April comparable store sales up 9%
04 May '06
2 min read
Ross Stores Inc reported sales of $422 million for the four weeks ended April 29th 2006, an 18 percent increase above the $357 million in sales for the four weeks ended April 30th 2005.
Comparable store sales for the month increased 9 percent over the prior year.
For the 13 weeks ended April 29th 2006, sales totaled $1.292 billion, a 15 percent increase above the $1.124 billion in sales for the 13 weeks ended April 30th 2005. Comparable store sales for the first quarter of 2006 increased 6 percent over the prior year.
Michael Balmuth, VC, President and CEO, stated, "Our solid sales gains during April benefited from strength across many geographic markets and merchandise categories. Based on better than expected revenues in the first quarter, we now estimate that earnings per share for the 13 weeks ended April 29, 2006 will be about $.40 to $.41, which includes projected non-cash charges equivalent to about $.01 to $.02 per share related to adoption of FAS No. 123(R), 'Share-Based Payment.' This compares to earnings per share of $.34 for the 13 weeks ended April 30th 2005."
Balmuth continued, "We ended the first quarter with slightly higher-than-planned clearance levels, which are expected to put some pressure on second quarter gross margin. With the later Easter holiday this year, we were more aggressive in marking down first quarter receipts in April."
Ross Stores Inc, headquartered in Pleasanton, California, is the nation's second largest off-price company with fiscal 2005 revenues of $4.9 billion. It offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20 to 60 percent off department and specialty store regular prices.
Comparable store sales for the month increased 9 percent over the prior year.
For the 13 weeks ended April 29th 2006, sales totaled $1.292 billion, a 15 percent increase above the $1.124 billion in sales for the 13 weeks ended April 30th 2005. Comparable store sales for the first quarter of 2006 increased 6 percent over the prior year.
Michael Balmuth, VC, President and CEO, stated, "Our solid sales gains during April benefited from strength across many geographic markets and merchandise categories. Based on better than expected revenues in the first quarter, we now estimate that earnings per share for the 13 weeks ended April 29, 2006 will be about $.40 to $.41, which includes projected non-cash charges equivalent to about $.01 to $.02 per share related to adoption of FAS No. 123(R), 'Share-Based Payment.' This compares to earnings per share of $.34 for the 13 weeks ended April 30th 2005."
Balmuth continued, "We ended the first quarter with slightly higher-than-planned clearance levels, which are expected to put some pressure on second quarter gross margin. With the later Easter holiday this year, we were more aggressive in marking down first quarter receipts in April."
Ross Stores Inc, headquartered in Pleasanton, California, is the nation's second largest off-price company with fiscal 2005 revenues of $4.9 billion. It offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20 to 60 percent off department and specialty store regular prices.
Ross Stores Inc
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