Ross Stores Reports August Same Store Sales Gain of 3%
PLEASANTON, Calif., Aug. 31 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported sales of $425 million for the four week period ended August 26, 2006, up 10% from the $388 million in sales for the four weeks ended August 27, 2005. Comparable store sales for the same period increased 3% on top of a 13% gain in the prior year.
For the seven months ended August 26, 2006, sales rose 13% to $3.025 billion, compared to $2.684 billion for the prior year's comparable period ended August 27, 2005. Comparable store sales for the same period grew 5% on top of a 6% increase in the prior year period.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, stated, "Same store sales in August were at the high end of our forecast for a 1% to 3% increase. The best performing region during the month was the Southwest, while the strongest merchandise trends were in the home businesses. Looking ahead, we continue to forecast same store sales gains of 1% to 3% for both September and October."
Additional recorded information concerning today's press release and the Company's future outlook can be accessed by calling 402-220-5900, PIN #2363, from 8:30 a.m. Eastern time on August 31, 2006 through 8:00 p.m. Eastern time on September 1, 2006. A transcript of these comments also will be made available on the press release page of the Company's website at www.rossstores.com . The Company expects to report sales results for the five weeks ending September 30, 2006 on Thursday, October 5th.
Forward-Looking Statements: This press release and the recorded comments and transcript on the Company's website contain forward-looking statements regarding expected sales and earnings levels, growth plans and productivity initiatives that are subject to risks and uncertainties which could cause the Company's actual results to differ materially from management's current expectations. The words "plan," "expect," "anticipate," "estimate," "believe," "forecast," "projected," "guidance," "looking ahead" and similar expressions identify forward-looking statements. Risk factors for Ross Stores and dd's DISCOUNTS(R) include, without limitation, the Company's ability to effectively operate its various supply chain, core merchandising and other information systems; its ability to improve its micro-merchandising capabilities through the implementation of new processes and systems enhancements; achieving and maintaining targeted levels of productivity and efficiency in its distribution centers; potential pressure on freight costs from higher-than-expected fuel surcharges; obtaining acceptable new store locations; competitive pressures in the apparel industry; changes in the level of consumer spending on or preferences for apparel or home-related merchandise, including the potential impact from higher gas prices on consumer spending; changes in geopolitical and general economic conditions; unseasonable weather trends; disruptions in supply chain; lower than planned gross margin, including higher than planned markdowns and higher than expected inventory shortage; greater than planned operating costs; the Company's ability to continue to purchase attractive brand-name merchandise at desirable discounts; the Company's ability to identify and successfully enter new geographic markets; and the Company's ability to attract and retain personnel with the retail talent necessary to execute its strategies. Other risk factors are detailed in the Company's SEC filings including, without limitation, the Form 10-K for fiscal 2005 and the Form 10-Q's and 8-K's for fiscal 2006. The factors underlying our forecasts are dynamic and subject to change. As a result, our forecasts speak only as of the date they are given and do not necessarily reflect the Company's outlook at any other point in time. The Company does not undertake to update or revise these forward-looking statements.
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 2005 revenues of $4.9 billion. As of August 26, 2006, the Company operated 744 Ross stores and 26 dd's DISCOUNTS locations, compared to 692 Ross stores and 19 dd's DISCOUNTS locations at the end of the same period last year. Ross Stores 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 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. Additional information is available on the Company's website at www.rossstores.com .
CONTACT: John G. Call, Senior Vice President, Chief Financial Officer,
+1-925-965-4315; or Katie Loughnot, Vice President, Investor Relations,
+1-925-965-4509, or firstname.lastname@example.org, both of Ross Stores, Inc.
/Web site: http://www.rossstores.com