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Ross Dresses & Home remain top performers in Sept

12 Oct '07

2 min read

Ross Stores Inc reported sales of $537 million for the five weeks ended October 6, 2007, a 5% increase over the $510 million in sales for the five weeks ended October 7, 2006. Same store sales for the five weeks ended October 6, 2007 were flat compared to the five weeks ended October 7, 2006. Comparable store sales rose 6% for the five weeks ended September 30, 2006.

For the eight months ended October 6, 2007, sales were $3.853 billion, a 9% increase over the $3.547 billion in sales for the eight months ended October 7, 2006. Comparable store sales for the eight months ended October 6, 2007 rose 1% over the eight months ended October 7, 2006. Comparable store sales rose 5% for the eight months ended September 30, 2006.

Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "Same store sales in September were slightly below our forecast mainly due, we believe, to unseasonably warm weather in many of our markets. Geographic trends were relatively broadbased. The strongest region during the month was the Northwest, while Dresses and Home remained the top performing businesses."

Mr. Balmuth continued, "With sales comparisons that start to ease over the balance of the year, we continue to forecast same store sales gains of 1% to 3% for October on top of a 3% increase in 2006. Based on this sales projection, along with favorable gross margin and expense trends, we are fine tuning our earnings per share forecast for the 13 weeks ending November 3, 2007 to $.35 to $.37, from our prior estimate of $.33 to $.37. This compares to earnings per share for the third quarter of 2006 of $.31."

Ross Stores Inc

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