Ross Stores Reports August Same Store Sales Gain Of 3%
PLEASANTON, Calif., Sept. 4 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported sales of $504 million for the four weeks ended August 30, 2008, a 9% increase over the $461 million in sales for the four weeks ended September 1, 2007. Same store sales for the four weeks ended August 30, 2008 rose 3%.
For the seven months ended August 30, 2008, sales increased 12% to $3.700 billion, up from $3.316 billion for the seven months ended September 1, 2007. Comparable store sales for the seven months ended August 30, 2008 grew 4%.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "Our August same store sales results were in line with our forecast. For both the month and year-to-date periods, Dresses, Accessories and Shoes were the strongest merchandise categories, while the Mid-Atlantic and Texas were the best-performing markets. Looking ahead, we continue to forecast same store sales gains of 2% 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 706-645-9291, PIN # 50663643 from 8:30 a.m. Eastern time on September 4, 2008 through 8:00 p.m. Eastern time on September 5, 2008. A transcript of these comments is available at http://www.rossstores.com.
The Company expects to report September 2008 sales results on Thursday, October 9th.
Forward-Looking Statements: This press release and the recorded comments on our website contain forward-looking statements regarding expected sales and earnings levels that are subject to risks and uncertainties which could cause our actual results to differ materially from management's current expectations. Risk factors for Ross Dress for Less(R) ("Ross") and dd's DISCOUNTS(R) include, without limitation, 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 uncertainty in mortgage credit markets and higher gas and commodity prices; 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; our ability to continue to purchase attractive brand-name merchandise at desirable discounts; our ability to attract and retain personnel with the retail talent necessary to execute our strategies; our ability to effectively operate our various supply chain, core merchandising and other information systems; our ability to improve our merchandising capabilities through the development and implementation of new processes and systems enhancements; achieving and maintaining targeted levels of productivity and efficiency in our distribution centers; potential pressure on freight costs from higher-than-expected fuel surcharges; and obtaining acceptable new store locations. Other risk factors are detailed in our SEC filings including, without limitation, the Form 10-K for fiscal 2007 and Form 10-Q and 8-K's for fiscal 2008. 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 our outlook at any other point in time. We do not undertake to update or revise these forward-looking statements.
Ross Stores, Inc., a Fortune 500 company headquartered in Pleasanton, California, is the nation's second largest off-price retailer with fiscal 2007 revenues of $6.0 billion. As of August 30, 2008, the Company operated 887 Ross Dress for Less(R) ("Ross") stores and 55 dd's DISCOUNTS(R) locations, compared to 817 Ross and 45 dd's DISCOUNTS 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 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 at http://www.rossstores.com.
SOURCE Ross Stores, Inc.
John Call, Senior Vice President & Chief Financial Officer, +1-925-965-4315,
or Bobbi Chaville, Senior Director, Investor Relations, +1-925-965-4289, email@example.com,
both of Ross Stores, Inc.
Web site: http://www.rossstores.com