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Ross Stores July sales powered by back to school season
05 Aug '05
3 min read
Mr. Balmuth continued, "Markdowns year-to-date has consistently been higher than expected. Although there are business reasons for the increased level of markdowns, they also think that the numerous learnings related to new system processes, procedures and information flow have been contributing factors as well."
"They have addressed most of these transitional issues with various system enhancements, modifications to processes and procedures and additional user training and believe their overall impact on margins should diminish going forward."
Mr. Balmuth concluded, "They plan to provide detailed third quarter guidance and assumptions on their conference call on Wednesday, August 17th, 2005, when they hope to have more visibility into early fall sales and margin trends."
Ross Stores will report final results for the second quarter ended July 30, 2005 on Wednesday, August 17, 2005.
The earnings press release will be issued at approximately 8:30 a.m. Eastern time. A conference call is scheduled to follow on the same date at 11:00 a.m. Eastern time to communicate, among other things, additional details concerning the quarter's results and management's future outlook and guidance for the second half of fiscal 2005.
Nation's second largest off-price firm Ross Stores Inc, a fortune 500 and Nasdaq 100 (ROST) company is located in California with fiscal 2004 revenues of $4.2 billion. As of July 30, 2005, the Company operated 682 Ross stores and 13 dd's DISCOUNTS stores, compared to 616 Ross locations at the end of the same period last year. Ross Stores offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20 to 60 percent off department and specialty store regular prices.
"They have addressed most of these transitional issues with various system enhancements, modifications to processes and procedures and additional user training and believe their overall impact on margins should diminish going forward."
Mr. Balmuth concluded, "They plan to provide detailed third quarter guidance and assumptions on their conference call on Wednesday, August 17th, 2005, when they hope to have more visibility into early fall sales and margin trends."
Ross Stores will report final results for the second quarter ended July 30, 2005 on Wednesday, August 17, 2005.
The earnings press release will be issued at approximately 8:30 a.m. Eastern time. A conference call is scheduled to follow on the same date at 11:00 a.m. Eastern time to communicate, among other things, additional details concerning the quarter's results and management's future outlook and guidance for the second half of fiscal 2005.
Nation's second largest off-price firm Ross Stores Inc, a fortune 500 and Nasdaq 100 (ROST) company is located in California with fiscal 2004 revenues of $4.2 billion. As of July 30, 2005, the Company operated 682 Ross stores and 13 dd's DISCOUNTS stores, compared to 616 Ross locations at the end of the same period last year. Ross Stores offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20 to 60 percent off department and specialty store regular prices.
Ross Stores Inc
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