PLEASANTON, Calif., Nov. 1, 2012 –Ross Stores, Inc. (Nasdaq: ROST) today reported that sales increased 8% to $715 million for the four weeks ended October 27, 2012, up from $661 million in sales for the four weeks ended October 29, 2011. Comparable store sales for the month grew 4% on top of a 5% increase in the prior year.
For the quarter ended October 27, 2012, sales were $2.263 billion, up 11% over the $2.046 billion in sales for the quarter ended October 29, 2011. Same store sales for the third quarter increased 6% versus a 5% gain in the prior year.
For the nine months ended October 27, 2012, sales totaled $6.960 billion, a 12% increase over the $6.210 billion in sales for the nine months ended October 29, 2011. Comparable store sales for the nine months ended October 27, 2012 grew 7% on top of a 5% gain in 2011.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, “With October performing at the high end of our projections, we expect to report another quarter of solid, above-plan growth in both sales and earnings. We also remain well positioned as a value retailer in the current environment, and our business continues to benefit from our ongoing ability to deliver a wide assortment of fresh and exciting name brand fashions to today’s bargain-oriented consumers.”
Mr. Balmuth continued, “Earnings per share for the 13 weeks ended October 27, 2012 are now projected to be in the range of $.71 to $.72, up slightly from our prior guidance of $.70 to $.71 mainly due to higher merchandise margin. This forecasted range compares to $.63 in earnings per share for the same period last year.”
The Company will provide detailed sales and earnings guidance for the fourth quarter ending February 2, 2013 with its third quarter earnings release and conference call on Thursday, November 15th.
Additional recorded information concerning today’s press release and the Company’s future outlook can be accessed by calling 203-369-3930, ID# 100322, from 8:30 a.m. Eastern time on November 1, 2012 through 8:00 p.m. Eastern time on November 2, 2012. A transcript of these comments is available in the Investors section of the corporate website at www.rossstores.com.
The Company plans to issue November 2012 sales results on Thursday, November 29th.