Home / Knowledge / News / Fashion / Ross Stores CEO pleased with healthy sales gains in July & Q2

Ross Stores CEO pleased with healthy sales gains in July & Q2

17
Aug '09
Ross Stores, Inc. reported that sales for the four weeks ended August 1, 2009 increased 8% to $538 million from $499 million for the four weeks ended August 2, 2008. Same store sales for the month rose 4% on top of a 4% gain in the prior year.

For the 13 weeks ended August 1, 2009, sales were $1.769 billion, an 8% increase over the $1.640 billion in sales reported for the 13 weeks ended August 2, 2008. Comparable store sales for the 13 weeks ended August 1, 2009 grew 3% on top of a strong 6% increase last year.

For the six months ended August 1, 2009, sales totaled $3.460 billion, up 8% over the $3.197 billion in sales for the six months ended August 2, 2008. Comparable store sales for the six months ended August 1, 2009 increased 3% on top of a 5% gain in the prior year period.

Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "We are extremely pleased with our healthy sales gains in July and the second quarter. Our ability to deliver compelling bargains while operating our business on much lower inventories is driving both above-plan sales growth and significant improvement in merchandise gross margin. In addition, the quarter is benefiting from much lower freight costs as a percent of sales compared to the prior year. As a result, we now estimate that earnings per share for the three months ended August 1, 2009 will increase a robust 50% to 52% to $.81 to $.82, up from $.54 last year."

Ross Stores Inc


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 19th Aug 2019

Hanoi considers safeguards for apparel sector under CPTPP

Vietnam's ministry of industry and trade is drafting a circular to...

Pic: Shutterstock

Apparel/Garments | On 19th Aug 2019

US Govt claims 'confusing', not supported by action: AAFA

The American Apparel & Footwear Association (AAFA) has clarified that ...

Pic: Shutterstock

Apparel/Garments | On 19th Aug 2019

Cambodia's footwear sector ready for investment: ILO

Cambodia's footwear sector will provide more opportunities for...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

The budget will give major impetus to textile and apparel consumption

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Kuldeep Pareek,

Kuldeep Pareek

Italian company Schoch Reeds has been producing high-quality weaving reeds ...

Vikram Saria,

Vikram Saria

Shanghai-based Aura Designs Ltd is a leading manufacturer of textile and...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search