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Nasdaq:ROST
Ross Stores, Inc., a Fortune
500 and Nasdaq 100 (ROST) company headquartered in Pleasanton, California,
is the nation's second largest off- price company with fiscal 2006 revenues
of $5.6 billion. As of March 3, 2007, the Company operated 771 Ross Dress
for Less(R) ("Ross") stores and 26 dd's DISCOUNTS(R) locations, compared
to 714 Ross and 20 dd's DISCOUNTS(R) locations at the end of the same period
last year. Ross offers first-quality, in-season, name brand and designer
apparel, accessories, footwear and home fashions for the entire family
at everyday savings of 20 to 60 percent off department and specialty store
regular prices. dd's DISCOUNTS(R) features a more moderately-priced assortment
of first-quality, in-season, name brand apparel, accessories, footwear
and home fashions for the entire family at everyday savings of 20 to 70
percent off moderate department and discount store regular prices
http://www.rossstores.com
Ross
Stores Reports April Same Store Sales Gain of 6%, Raises First Quarter
EPS Guidance
April
Recorded Comments
PLEASANTON,
Calif., May 7 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST)
today reported that sales increased 11% to $534 million for the four weeks
ended May 2, 2009, up from $480 million for the four weeks ended May 3,
2008. Comparable store sales for the month grew 6% over the prior year.
For
the quarter ended May 2, 2009, sales totaled $1.692 billion, a 9% increase
over the $1.556 billion in sales for the thirteen weeks ended May 3, 2008.
Comparable store sales for the thirteen weeks ended May 2, 2009 grew 3%
on top of a 3% increase in the prior year period.
Michael
Balmuth, Vice Chairman, President and Chief Executive Officer, commented,
"We are very pleased with our sales gains for both April and the first
quarter, especially considering the ongoing challenging economic and retail
environment. We believe our solid performance throughout the quarter was
driven by our continued ability to deliver compelling bargains to customers.
Dresses, Children's and Shoes were the best performing merchandise categories
for the month while the Southeast and Mid-Atlantic were the strongest regions."
Mr.
Balmuth continued, "Our first quarter earnings are benefiting from above-plan
sales, better-than-expected merchandise gross margin and tight expense
control. As a result, earnings per share for the thirteen weeks ended May
2, 2009 are now estimated to be $.71 to $.72, up a strong 18% to 20% from
the prior year's $.60 per share. This compares to our previous earnings
per share range of $.68 to $.70."
Ross
Stores Reports Record Fourth Quarter and Fiscal Year 2008 Earnings
PLEASANTON,
Calif., March 19, 2009 /PRNewswire-FirstCall via COMTEX/ -- Ross Stores,
Inc. (Nasdaq: ROST) today reported earnings per share for the 13 weeks
ended January 31, 2009 of $.76, up 9% from $.70 for the 13 weeks ended
February 2, 2008. Net earnings for the 13 weeks ended January 31, 2009
grew to a record $97.4 million, up from $94.5 million for the 13 weeks
ended February 2, 2008. Sales for the 13 weeks ended January 31, 2009 increased
5% to $1.734 billion compared to $1.652 billion for the 13 weeks ended
February 2, 2008. Comparable store sales for the 13 weeks ended January
31, 2009 declined 1% compared to a 2% gain for the 13 weeks ended February
2, 2008.
For
the 52 weeks ended January 31, 2009, earnings per share grew 23% to $2.33,
from $1.90 for the 52 weeks ended February 2, 2008. Net earnings for the
52 weeks ended January 31, 2009 grew to a record $305.4 million, from $261.1
million for the 52 weeks ended February 2, 2008. Sales for the 2008 fiscal
year increased 9% to $6.486 billion, with comparable store sales up 2%
over the prior year.
Michael
Balmuth, Vice Chairman, President and Chief Executive Officer, commented,
"We are very pleased with our solid earnings per share growth for both
the fourth quarter and fiscal 2008. Our results are especially noteworthy
considering the extremely challenging macro-economic and retail environment
that became increasingly difficult as the year progressed. A key driver
of this performance was the efficient execution of our resilient and flexible
off-price strategies, which included taking advantage of the huge amount
of close-out opportunities in the marketplace. This enabled us to deliver
fresh and exciting assortments of sharply priced name brand bargains to
our customers. More importantly, we accomplished this while also operating
the business with leaner in-store inventories, which drove faster turns
and reduced markdowns, resulting in higher merchandise gross margin."
Mr.
Balmuth continued, "Operating margin for the 2008 fourth quarter was 9.1%,
up about five basis points over the prior year, as stronger merchandise
gross margin was partially offset by some deleveraging of occupancy and
store operating costs as well as higher distribution expenses as a percent
of sales. For the 2008 fiscal year, operating margin increased about 60
basis points over the prior year to 7.6%. As a percent of sales, key drivers
of our improved profitability for the year were higher merchandise gross
margin and lower distribution and shortage costs, partially offset by an
increase in occupancy, store operating and incentive plan expenses."
"Solid
operating cash flows during fiscal 2008 continued to provide the resources
to make capital investments in new store growth and infrastructure, and
fund our ongoing stock repurchase and dividend programs. During fiscal
2008, we repurchased a total of 9.3 million shares of common stock for
an aggregate purchase price of $300 million and we plan to complete the
remaining $300 million repurchase authorization in 2009. In January 2009,
our Board of Directors also approved a 16% increase in our quarterly cash
dividend to $.11 per common share. On an annual basis, this represents
our 15th consecutive dividend increase," Mr. Balmuth concluded.
The
Company will host a conference call on Thursday, March 19, 2009 at 11:00
a.m. Eastern time to communicate additional details concerning the fourth
quarter and fiscal year 2008 results and management's outlook and plans
for 2009. A real time audio webcast of the conference call will be available
at www.rossstores.com. An audio playback will be available at 706-645-9291,
ID #86369590 through March 26, 2009.
Ross
Stores Reports February Sales
February
Recorded Comments
PLEASANTON,
Calif., March 5 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST)
today reported that sales increased 7% to $476 million for the four weeks
ended February 28, 2009, up from $444 million for the four weeks ended
March 1, 2008. Comparable store sales for the month grew 1% on top of a
4% gain in the prior year.
Michael
Balmuth, Vice Chairman, President and Chief Executive Officer, commented,
"We are pleased with our better-than-expected sales in February. Our ongoing
ability to deliver fresh and exciting assortments of compelling name brand
bargains to an increasingly value-focused consumer remains the key driver
of our solid top line performance. Merchandise and geographic trends were
generally broad-based, benefiting from healthy traffic levels during the
month. Dresses and Shoes were the best performing merchandise categories
while the Mid-Atlantic was the strongest region."
Ross
Stores Reports January 2009 Sales, Raises 2008 Fourth Quarter EPS Guidance
January
Recorded Comments
ANNOUNCES
16% DIVIDEND INCREASE
PROVIDES
2009 FISCAL YEAR TARGETS
PLEASANTON,
Calif., Feb. 5 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST)
today reported sales for the four weeks ended January 31, 2009 of $365
million, a 4% increase over the $350 million in sales for the four weeks
ended February 2, 2008. Same store sales for the four weeks ended January
31, 2009 declined 2% compared to the four weeks ended February 2, 2008.
For
the 13 weeks ended January 31, 2009, sales were $1.734 billion, a 5% increase
over the $1.652 billion in sales for the 13 weeks ended February 2, 2008.
Comparable store sales for the 13 weeks ended January 31, 2009 decreased
1% compared to the 13 weeks ended February 2, 2008.
For
the 52 weeks ended January 31, 2009, sales were $6.486 billion, a 9% increase
over the $5.975 billion in sales for the 52 weeks ended February 2, 2008.
Comparable store sales for the 52 weeks ended January 31, 2009 rose 2%
over the 52 weeks ended February 2, 2008.
Michael
Balmuth, Vice Chairman, President and Chief Executive Officer, commented,
"Both our January and fourth quarter sales were in line with our expectations.
More importantly, merchandise gross margin for the fourth quarter was better
than expected and up from last year. These results reflect the ongoing
success of our core strategy of delivering compelling bargains, which have
become increasingly important to today's value-focused consumer. Our aggressive
inventory management has also been a key driver of improved profitability
by promoting faster turns and lower markdowns."
"Based
on our sales and margin trends, we now estimate earnings per share for
the 13 weeks ended January 31, 2009 of $.75 to $.76, up from our previous
guidance of $.73 to $.75 and $.70 for the 13 weeks ended February 2, 2008.
For the 52 weeks ended January 31, 2009, earnings per share are estimated
to increase 22% to 23% to $2.32 to $2.33, up from $1.90 in the prior year,"
said Mr. Balmuth.
Board
Approves 16% Increase in Quarterly Dividend
The
Company announced that its Board of Directors recently approved a 16% increase
in the quarterly cash dividend to $.11 per common share, payable on March
31, 2009 to stockholders of record as of February 20, 2009.
In
commenting, Mr. Balmuth said, "Our solid financial position and anticipated
future cash flows allow us to continue to enhance stockholder returns through
both our dividend and share repurchase programs. The higher dividend announced
today represents the fifteenth consecutive annual increase since our dividend
program was initiated in 1994. In addition, I am pleased to report that
during 2008 we repurchased a total of 9.3 million shares of common stock
for an aggregate purchase price of $300 million and expect to complete
as planned the remaining $300 million repurchase authorization in 2009."
Fiscal
2009 Guidance
Looking
ahead, Mr. Balmuth said, "Considering today's very difficult macro-economic
and retail climate, we remain cautious in our outlook as we enter 2009.
Our experience over the past year reflects the benefit of setting prudent
targets when planning the business with the hope that we can do better."
For
the fiscal year ending January 30, 2010, the Company is forecasting same
store sales to decline 1% to 3% compared to a 2% gain in the prior year,
and projecting earnings per share in the range of $2.25 to $2.45. For the
13 weeks ending May 2, 2009, comparable store sales also are forecast to
decline 1% to 3% compared to a 3% gain in the prior year quarter. Earnings
per share for the first quarter of 2009 are projected to be in the range
of $.56 to $.61, compared to $.60 in the prior year period."
Ross
Stores Reports November Sales
November
Recorded Comments
PLEASANTON,
Calif., Dec. 4 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST)
today reported sales of $568 million for the four weeks ended November
29, 2008, a 4% increase over the $547 million in sales for the four weeks
ended December 1, 2007. Same store sales for the four weeks ended November
29, 2008 declined 2% from the four weeks ended December 1, 2007.
For
the ten months ended November 29, 2008, sales were $5.320 billion, a 9%
increase over the $4.870 billion in sales for the ten months ended December
1, 2007. Comparable store sales for the ten months ended November 29, 2008
rose 2% over the ten months ended December 1, 2007.
Michael
Balmuth, Vice Chairman, President and Chief Executive Officer, commented,
"We are pleased with our November results which continued to reflect the
resilience of our off-price business model. Despite the tough economic
and retail environment, same store sales for the month were slightly better
than expected, with merchandise gross margin in line with plan. Dresses
remained the best performing merchandise category for both the month and
year-to-date periods, while geographic trends were generally broad-based.
Looking ahead, we continue to forecast same store sales to be relatively
flat for December and down 2% to 4% for January."
Additional
recorded information concerning today's press release and the Company's
future outlook can be accessed by calling 706-645-9291, PIN # 50663646
from 8:30 a.m. Eastern time on December 4, 2008 through 8:00 p.m. Eastern
time on December 5, 2008. A transcript of these comments is available at
http://www.rossstores.com.
Ross
Stores Reports October Sales, Updates Third Quarter Guidance
October
Recorded Comments
PLEASANTON,
Calif., Nov. 6 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST)
today reported sales of $490 million for the four weeks ended November
1, 2008, a 4% increase over the $470 million in sales for the four weeks
ended November 3, 2007. Same store sales for the four weeks ended November
1, 2008 declined 2% from the four weeks ended November 3, 2007.
For
the thirteen weeks ended November 1, 2008, sales were $1.555 billion, a
6% increase over the $1.468 billion in sales for the thirteen weeks ended
November 3, 2007. Comparable store sales for the thirteen weeks ended November
1, 2008 were even with the prior year period.
For
the nine months ended November 1, 2008, sales were $4.752 billion, a 10%
increase over the $4.324 billion in sales for the nine months ended November
3, 2007. Comparable store sales for the nine months ended November 1, 2008
rose 3% over the nine months ended November 3, 2007.
Michael
Balmuth, Vice Chairman, President and Chief Executive Officer, commented,
"October same store sales were slightly lower than expected, as we believe
our business was impacted by unseasonably warm weather in many of our markets
and the ongoing pressure from the challenging macro-economic environment.
The Mid-Atlantic, which benefited from cooler temperatures, remained our
strongest region, while Dresses and Accessories were the best performing
merchandise categories."
Mr.
Balmuth continued, "We now estimate that earnings per share for the thirteen
weeks ended November 1, 2008 will be in the range of $.43 to $.44, up from
$.36 in the third quarter of 2007. The quarter is benefiting from favorable
shortage results and other expense savings that are offsetting the impact
to gross margin from somewhat lower-than-expected sales."
"Looking
ahead, while we believe our resilient off-price model continues to hold
up well in today's difficult macro-economic and retail climate, we remain
cautious given the likelihood of a very promotional holiday season. We
plan to provide detailed sales and earnings guidance for the fourth quarter
with our third quarter earnings release and conference call on Wednesday,
November 19th," concluded Mr. Balmuth.
Ross
Stores Reports July Same Store Sales Gain of 4%
PLEASANTON,
Calif., Aug. 7 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST)
today reported sales of $499 million for the four weeks ended August 2,
2008, an 11% increase over the $450 million in sales for the four weeks
ended August 4, 2007. Same store sales for the four weeks ended August
2, 2008 rose 4% from the prior year period.
For
the 13 weeks ended August 2, 2008, sales were $1.640 billion, a 14% increase
over the $1.445 billion in sales reported for the 13 weeks ended August
4, 2007. Comparable store sales for the 13 weeks ended August 2, 2008 rose
6%.
For
the six months ended August 2, 2008, sales increased 12% to $3.197 billion,
up from $2.855 billion for the six months ended August 4, 2007. Comparable
store sales for the six months ended August 2, 2008 grew 5%.
Michael
Balmuth, Vice Chairman, President and Chief Executive Officer, commented,
"Our July same store sales results were at the high end of our forecast
for a 2% to 4% increase. Our solid performance for the month and the quarter
was driven mainly by our ability to offer compelling bargains on fresh
and exciting name brand fashions for the family and the home. We believe
that the tax rebate checks and favorable weather also benefited sales somewhat
during the quarter. For July, Dresses, Accessories and Home were the strongest
merchandise categories, while Texas and the Mid-Atlantic were the best-performing
markets."
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