Ross Stores posts Jan sales & estimates for Q4 2006
09 Feb '07
3 min read
Looking ahead, Mr. Balmuth said, "For the 52 weeks ending February 2, 2008, we are forecasting same store sales gains of 2% to 3% and projecting earnings per share in the range of $1.85 to $1.95. For the 13 weeks ending May 5, 2007, we are targeting same store sales growth of 1% to 2% on top of a 6% gain in the prior year, and projecting that earnings per share will be in the range of $.46 to $.48, compared to $.41 in the prior year."
Mr. Balmuth continued, "We are planning about 90 net new store locations in 2007, for 11% to 12% unit growth, consisting of approximately 63 Ross stores and 27 dd's DISCOUNTS(R) locations. Our targeted expansion in 2007 includes about 40 former Albertsons sites located across many of our top performing, established Sunbelt markets in California, Arizona, Texas, Florida, Colorado and Oklahoma. About half of these former Albertsons locations will reopen as Ross Dress for Less locations and half as dd's DISCOUNTS stores.”
"Our strong financial position and confidence in our future growth prospects allow us to enhance stockholder returns through a continuation of our share repurchase and dividend programs," said Mr. Balmuth."
Mr. Balmuth continued, "In addition, our Board of Directors recently declared a 25% increase in the quarterly cash dividend to a record $.075 per common share, our 13th consecutive annual increase. The first quarterly cash dividend at this new higher rate will be paid on or about March 30, 2007to stockholders of record as of February 23, 2007."
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