News Flash

Ross Stores reports November sales

30 Nov '06

2 min read

Ross Stores Inc reported sales of $481 million for the four weeks ended November 25, 2006, a 7 percent increase over the $451 million in sales for the four weeks ended November 26, 2005. Comparable store sales for the month were flat on top of a 5 percent increase in the prior year.

For the ten months ended November 25, 2006, sales totaled $4.442 billion, a 12 percent increase over the $3.983 billion in sales for the ten months ended November 26, 2005. For the year-to-date period ended November 25, 2006, comparable store sales grew 4 percent on top of a 6 percent gain in the prior year period.

In commenting, Michael Balmuth, Vice Chairman, President and Chief Executive Officer, said, "Although November same store sales were slightly below our forecast for a 1 percent to 3 percent increase, we are pleased to report that business strengthened during the latter half of the month. Geographic trends were relatively broadbased, and Home and Shoes remained the top-performing merchandise categories."

Mr. Balmuth continued, "Looking ahead, we believe our merchandise assortments are well positioned for the holiday period, and we remain cautiously optimistic about our prospects for both sales and earnings over the balance of the fourth quarter."

"We continue to project that same store sales will increase 1 percent to 3 percent in both December and January, and that earnings per share for the 14 weeks ending February 3, 2007 will be in the range of $.59 to $.65."

Ross Stores Inc

More Ross Stores Inc News... More Fashion News - United States Of America...