Ross Stores Reports February Same Store Sales Gain of 4%
PLEASANTON, Calif., March 6 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported that sales increased 12% to $444 million for the four weeks ended March 1, 2008, up from $395 million for the four weeks ended March 3, 2007. Comparable store sales for the month increased 4% over the prior year.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "We are pleased with the strong, better-than-expected sales gains we achieved in February. We believe the month benefited from our ability to deliver competitive bargains, driving broad-based geographic and merchandise trends. Results also were aided by favorable weather comparisons, especially in the Mid-Atlantic which was the best performing market during the month."
Additional recorded information concerning today's press release and the Company's future outlook can be accessed by calling 706-645-9291, ID# 32754465, from 8:30 a.m. Eastern time on March 6, 2008 through 8:00 p.m. Eastern time on March 7, 2008. A transcript of these comments is available in the Investor Information section of the Company's website at http://www.rossstores.com. The Company will report fourth quarter and fiscal year 2007 earnings results on Wednesday, March 19th and March 2008 sales results on Thursday, April 10th.
Forward-Looking Statements: The recorded comments and transcript 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. The words "plan," "expect," "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 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 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 2006, Form 10- Q's for fiscal 2007 and Form 8-K's for fiscal 2007 and 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 March 1, 2008, the Company operated 838 Ross Dress for Less(R) ("Ross") stores and 54 dd's DISCOUNTS(R) locations, compared to 771 Ross and 26 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.
Senior Vice President, Chief Financial Officer
Vice President, Investor Relations, +1-925-965-4509
both of Ross Stores, Inc.