PLEASANTON, Calif.–Citing home products as among its best-performing categories, Ross Stores today reported gains in profits and earnings per share for the fourth quarter ended Feb. 2.
Based on sales of more than $1.65 billion, the off-price retailer said its net income reached $94.5 million for the period, up 1.5 percent over the same period a year ago.
Investors saw their earnings per diluted share rise to 70 cents from 60 cents in the year-ago period, a gain of 6.1 percent.
Michael Balmuth, vice chairman, president and chief executive officer, said that home, dresses, and shoes were the best-performing merchandise categories for the period, as well as for the year.
The retailer also repurchased 6.9 million shares of its common stock in 2007 for $200 million. In January, the board approved a new repurchase program for 2008 and 2009, valued at $600 million.
