News Flash

Ross Stores reports June comp sales gain 4%

13 Jul '07

2 min read

Ross Stores Inc reported sales of $545 million for the five weeks ended July 7, 2007, an 11% increase over the $490 million in sales for the five weeks ended July 8, 2006. Same store sales for the five weeks ended July 7, 2007 grew 4% compared to the five weeks ended July 8, 2006. Comparable store sales rose 5% for the five weeks ended July 1, 2006.

For the five months ended July 7, 2007, sales were $2.405 billion, a 9% increase over the $2.213 billion in sales for the five months ended July 8, 2006. Same store sales for the five months ended July 7, 2007 grew 1% over the five months ended July 8, 2006. Comparable store sales rose 6% for the five months ended July 1, 2006.

Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "Comparable store sales in June were ahead of our expectations, benefiting from solid sell-through of seasonal merchandise. The Northwest, Southeast and Mid-Atlantic were the best performing regions, while Dresses and Home continued to be the strongest merchandise categories."

"Looking ahead, we continue to project comparable store sales gains of 3% to 4% in July 2007. Based on current sales and margin trends, earnings per share for the 13 weeks ending August 4, 2007 are now forecast to be $.36 to $.37, up 13% to 16% over second quarter 2006 earnings per share of $.32."

Ross Stores Inc

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