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Ross Stores strong sales gain helps Q4 earning up 37%
16 Mar '06
3 min read
Fashion retailer Ross Stores Inc reported that net earnings for the 13 weeks ended January 28, 2006 increased 37 percent to $71.0 million, compared to $51.8 million for the 13 weeks ended January 29, 2005.
Earnings per share for the 13 weeks ended January 28, 2006 grew 40 percent to $.49, compared to earnings per share of $.35 for the prior year period.
For the 2005 fiscal year ended January 28, 2006, net earnings totaled $199.6 million, and earnings per share were $1.36, compared to net earnings of $169.9 million and earnings per share of $1.13 for the 2004 fiscal year ended January 29, 2005.
Fiscal 2004 results include a non-cash pre-tax charge of approximately $15.8 million, or $.06 per share, to write-down the value of the Company's former headquarters and distribution center in Newark, California to its estimated fair market value.
Sales for the fourth quarter ended January 28, 2006 increased 16 percent to $1.411 billion, with comparable store sales up 6 percent over the prior year.
For the 2005 fiscal year ended January 28, 2006, sales increased 17 percent to $4.944 billion, with comparable store sales up 6 percent over the prior year.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented that they are pleased with the solid earnings growth they realized in the fourth quarter of 2005, which was driven by a combination of strong sales gains and expansion in operating margin.
Gross profit margin for the quarter rose about 185 basis points, partially offset by an approximate 70 basis point increase in selling, general and administrative expenses mainly related to higher incentive plan costs."
Earnings per share for the 13 weeks ended January 28, 2006 grew 40 percent to $.49, compared to earnings per share of $.35 for the prior year period.
For the 2005 fiscal year ended January 28, 2006, net earnings totaled $199.6 million, and earnings per share were $1.36, compared to net earnings of $169.9 million and earnings per share of $1.13 for the 2004 fiscal year ended January 29, 2005.
Fiscal 2004 results include a non-cash pre-tax charge of approximately $15.8 million, or $.06 per share, to write-down the value of the Company's former headquarters and distribution center in Newark, California to its estimated fair market value.
Sales for the fourth quarter ended January 28, 2006 increased 16 percent to $1.411 billion, with comparable store sales up 6 percent over the prior year.
For the 2005 fiscal year ended January 28, 2006, sales increased 17 percent to $4.944 billion, with comparable store sales up 6 percent over the prior year.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented that they are pleased with the solid earnings growth they realized in the fourth quarter of 2005, which was driven by a combination of strong sales gains and expansion in operating margin.
Gross profit margin for the quarter rose about 185 basis points, partially offset by an approximate 70 basis point increase in selling, general and administrative expenses mainly related to higher incentive plan costs."
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