Apparel maker Ross Stores declares Q2 results & H2 sales
17 Aug '05
5 min read
"Markdowns year-to-date have consistently been higher than planned. Although residual inventory issues from 2004 and modest volatility around actual-versus-plan sales had an impact on markdown activities, we believe that the internal learning curve related to numerous new system processes, procedures and information flow also has contributed to higher markdown levels. They believe to addressed most of these transitional issues and that their overall impact on margins should diminish going forward. Nevertheless, as previously reported, higher-than-expected clearance balances at the end of the second quarter are expected to pressure both third quarter gross margin and earnings per share," said Balmuth.
The Company now projects the following same store sales and earnings per share ranges for the balance of fiscal 2005:
- For the third quarter ending October 29, 2005, the Company expects same store sales to increase 6 percent to 7 percent on top of the 3 percent decline in the prior year and forecasts earnings per share to be in the range of $.28 to $.30, compared to $.25 as restated for the third quarter ended October 30, 2004.
- For the fourth quarter ending January 28, 2006, the Company expects same store sales to increase 2 percent to 3 percent on top of flat comparable store sales in the prior year and forecasts earnings per share to be in the range of $.45 to $.48, compared to $.35 as restated in the fourth quarter ended January 29, 2005.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
