Ross Reports Sales Increase in Sept.
PLEASANTON, Calif.-Ross Stores, Inc., reported sales for the five weeks ended Oct. 2, 2010, increased 6 percent to $666 million from $629 million for the five weeks ended Oct. 3, 2009. Same store sales for the month rose 2 percent on top of an 8 percent gain in the prior year.
For the eight months ended Oct. 2, 2010, sales totaled $5.121 billion, up 10 percent over the $4.647 billion in sales for the eight months ended October 3, 2009. Comparable store sales for the eight months ended October 2, 2010 increased 6 percent on top of a 4 percent gain in 2009.
Michael Balmuth, vice chairman and chief executive officer, said earnings per share for the 13 weeks ending Oct. 30, 2010, are projected to be in the range of 94 cents to 96 cents, driven mainly by much better-than-expected shortage results from its annual physical inventory of stores in September along with other favorable gross margin trends.
"Our updated third quarter guidance also reflects our continued expectation for October same store sales to be flat to up one percent," Balmuth added.