PLEASANTON, Calif., July 7, 2011
Ross Stores, Inc. (Nasdaq: ROST) today reported that sales increased 9% to $793 million for the five weeks ended July 2, 2011, up from $725 million for the five weeks ended July 3, 2010. Comparable store sales for the month grew 5% on top of a 5% gain in the prior year period.
For the 22 weeks ended July 2, 2011, sales totaled $3.529 billion, an 8% increase over the $3.274 billion in sales for the 22 weeks ended July 3, 2010. Comparable store sales for the five months ended July 2, 2011 increased 4% on top of a strong 8% gain last year.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, “We are pleased that June same store sales outperformed our expectations for a 2% to 3% increase. Our ability to deliver terrific name brand bargains on a wide array of products for the family and the home continues to resonate with our customers. Dresses and Accessories remained our best-performing merchandise categories, while Florida and Texas were our strongest markets.”
Looking ahead, Mr. Balmuth said, “Based on our better-than-expected sales and gross margin performance in May and June, as well as our continued expectation for a 2% to 3% increase in July same store sales, we now are forecasting earnings per share for the second quarter ending July 30, 2011 to be $1.20-$1.22, up from our prior range of $1.15-$1.20.”
Additional recorded information concerning today’s press release and the Company’s future outlook can be accessed by calling 706-645-9291, ID# 60515111, from 8:30 a.m. Eastern time on July 7, 2011 through 8:00 p.m. Eastern time on July 8, 2011. A transcript of these comments is available in the Investors section of the corporate website at www.rossstores.com.
The Company plans to issue July 2011 sales results on Thursday, August 4th.