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."
Additional recorded information concerning today's press release and the
Company's future outlook can be accessed by calling 706-645-9291, ID#
82461693, from 8:30 a.m. Eastern time on March 5, 2009 through 8:00 p.m.
Eastern time on March 6, 2009. A transcript of these comments is available in
the Investors section of the Company's website at www.rossstores.com. The
Company will report fourth quarter and fiscal year 2008 earnings results on
Thursday, March 19th and March 2009 sales results on Thursday, April 9th.
Forward-Looking Statements: This press release and the recorded comments
on our website contain forward-looking statements regarding expected sales and
earnings levels in future periods that are subject to risks and uncertainties
which could cause our actual results to differ materially from management's
current expectations. The words "plan," "expect," "target," "anticipate,"
"estimate," "believe," "forecast," "projected," "guidance," "looking ahead"
and similar expressions identify forward-looking statements. Risk factors for
Ross Dress for Less(R) ("Ross") and dd's DISCOUNTS(R) include, without
limitation, competitive pressures in the apparel or home-related merchandise
industry; changes in the level of consumer spending on or preferences for
apparel or home-related merchandise, including the potential impact from
uncertainty in financial and credit markets and the severity and duration of
the current recession; 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; 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, Form 10-Q's for fiscal 2008 and Form 8-K's for fiscal 2008 and
2009. 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 and Nasdaq 100 (ROST) company
headquartered in Pleasanton, California, is the nation's second largest
off-price retailer with fiscal 2008 revenues of $6.5 billion. As of February
28, 2009, the Company operated 904 Ross Dress for Less(R) ("Ross") stores and
53 dd's DISCOUNTS(R) locations, compared to 838 Ross and 54 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 www.rossstores.com.
SOURCE Ross Stores, Inc.
John Call, Senior Vice President, Chief Financial Officer,
or Bobbi Chaville, Senior Director, Investor Relations,
both of Ross Stores, Inc.
Web Site: http://www.rossstores.com