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Discount retailer Ross Stores Q3 sales rise

15 Nov '06

2 min read

Ross Stores Inc reported that earnings per share for the 13 weeks ended October 28, 2006 rose 24 percent to $.31, from $.25 for the 13 weeks ended October 29, 2005. Net earnings for the fiscal 2006 third quarter were $43.9 million, compared to $36.3 million for the third quarter of 2005.

The current year third quarter results include pre-tax stock option related expenses of $3.2 million, or about $.01 per share, recognized pursuant to FAS No. 123, "Share-Based Payment." Third quarter earnings per share before these non-cash charges grew 32 percent over the prior year period.

Fiscal 2006 third quarter sales rose 10 percent to $1.362 billion, from $1.237 billion for the quarter ended October 29, 2005. Same store sales for the period increased 4 percent on top of a strong 9 percent gain in the prior year comparable quarter.

For the nine months ended October 28, 2006, earnings per share grew 20 percent to $1.04 from $.87 for the nine months ended October 29, 2005. Net earnings for the fiscal 2006 year-to-date period were $148.5 million, compared to $128.7 million for the same period in the prior year.

The fiscal 2006 year-to-date results include pre-tax stock option related expenses of $10.0 million, or about $.04 per share, recognized pursuant to FAS No. 123, "Share-Based Payment."

Before these non-cash charges, earnings per share for the first nine months of 2006 grew 24 percent over the prior year. Sales for the first nine months rose 12 percent to $3.962 billion, with same store sales up 5 percent on top of a 6 percent increase in the prior year comparable period.

Ross Stores Inc

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