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Ross Stores August same-store sales up 4%

06 Sep '07

2 min read

Ross Stores Inc reported sales of $461 million for the four weeks ended September 1, 2007, a 12% increase over the $410 million in sales for the four weeks ended September 2, 2006. Same store sales for the four weeks ended September 1, 2007 grew 4% compared to the four weeks ended September 2, 2006. Comparable store sales rose 3% for the four weeks ended August 26, 2006.

For the seven months ended September 1, 2007, sales were $3.316 billion, a 9% increase over the $3.037 billion in sales for the seven months ended September 2, 2006. Comparable store sales for the seven months ended September 1, 2007 rose 2% over the seven months ended September 2, 2006. Comparable store sales rose 5% for the seven months ended August 26, 2006.

Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "Comparable store sales in August were at the high end of our plan for a 2% to 4% increase. As expected, Texas and Florida were the strongest regions, benefiting from shifts in their sales tax holidays, which moved from July last year into August this year, as well as later back-to-school start dates."

"We estimate that the sales tax calendar shifts increased total reported comparable store sales by at least 1% for the month. Looking ahead, we continue to forecast same store sales gains of 1% to 3% for both September and October."

Ross Stores Inc

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