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Ross Stores posts Jan sales & estimates for Q4 2006

09 Feb '07

3 min read

Ross Stores Inc reported that sales grew 38% to $399 million for the five weeks ended February 3, 2007, from $289 million in sales for the four weeks ended January 28, 2006. The fifth week of the month added approximately $88 million in sales. Same store sales for the four weeks ended January 27, 2007 increased 2% on top of a 9% gain for the four weeks ended January 28, 2006.

For the 14 weeks ended February 3, 2007, sales increased 14% to $1.608 billion, from $1.411 billion in sales for the 13 weeks ended January 28, 2006. Comparable store sales for the 13 weeks ended January 27, 2007 increased 1% on top of a 6% gain for the 13 weeks ended January 28, 2006.

For the 53 weeks ended February 3, 2007, sales grew 13% to $5.570 billion, from $4.944 billion in sales for the 52 weeks ended January 28, 2006. Same store sales for the 52 weeks ended January 27, 2007 increased 4% on top of a 6% increase for the 52 weeks ended January 28, 2006.

Estimated Results for Fiscal Fourth Quarter and Full Year 2006
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "Both our January and fourth quarter sales results were in line with our forecast for a 1% to 3% increase in comparable store sales. During January, the Mid-Atlantic and the Southwest were the strongest regions, while Home and Juniors were the strongest performing merchandise departments."

Mr. Balmuth continued, "As a result, based on these sales results and our forecast for solid improvement over the prior year in fourth quarter operating margin, we now estimate that earnings per share for the 14 and 53 week periods ended February 3, 2007 will be about $.65 to $.66 and $1.69 to $1.70, respectively.”

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