Ross Stores Reports December Same Store Sales Gain of 6%, Raises Fourth Quarter EPS Guidance
Ross Stores (Nasdaq: ROST) today reported that sales increased 11% to $1.276 billion for the five weeks ended December 29, 2012, up from $1.149 billion in sales for the five weeks ended December 31, 2011. Comparable store sales for the month grew 6% on top of a 9% increase in the prior year.
For the eleven months ended December 29, 2012, sales totaled $9.049 billion, an 11% increase over the $8.125 billion in sales for the eleven months ended December 31, 2011. Comparable store sales for the eleven months ended December 29, 2012 grew 7% on top of a 5% gain in 2011.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "We are pleased with December same store sales that were ahead of our expectations for a 2% to 3% increase. These gains were on top of our most challenging sales comparison of the year and demonstrate the ongoing resilience of our off-price model as we continue to attract value-conscious shoppers with our wide assortments of compelling name brand bargains."
Looking ahead, Mr. Balmuth continued, "Based on better-than-expected sales and margin trends quarter-to-date and our continued assumption for a 1% to 2% increase in January same store sales, we now project earnings per share for the 14 weeks ending February 2, 2013 to be $1.05 to $1.06, compared to our previous guidance of $.99 to $1.04."
Additional recorded information concerning today's press release and the Company's future outlook can be accessed by calling 203-369-3267, ID# 121113 from 8:30 a.m. Eastern time on January 3, 2013 through 8:00 p.m. Eastern time on January 4, 2013. A transcript of these comments is available in the Investors section of the corporate website at www.rossstores.com.
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