Ross Stores Reports March Same Store Sales Gain of 4%
PLEASANTON, Calif., April 6 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported sales of $513 million for the five weeks ended April 1, 2006, a 13% increase above the $456 million in sales for the five weeks ended April 2, 2005. Comparable store sales for the month rose 4% over the prior year.
For the nine weeks ended April 1, 2006, sales totaled $870 million, a 13% increase above the $767 million in sales for the nine weeks ended April 2, 2005. Comparable store sales for the nine weeks ended April 1, 2006 grew 5% over the prior year.
In commenting, Michael Balmuth, Vice Chairman, President and Chief Executive Officer, stated, "Comparable store sales in March were ahead of our expectations. In general, our geographic performance was broadbased, and we continued to generate strong same store sales gains in our Home, Juniors and Shoe departments. Based on our recent trend, we are optimistic about meeting our prior same store sales forecast of up 7% to 8% in April, which benefits from the Easter calendar shift."
Additional recorded information concerning today's press release and our future outlook can be accessed by calling 402-220-5900, PIN #2363, from 8:30 a.m. Eastern time on April 6, 2006 through 8:00 p.m. Eastern time on April 7, 2006. A transcript of these comments also will be made available on the press release page of our website at www.rossstores.com. We plan to report our April sales results on Thursday, May 4th.
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 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, including generation of all necessary data and reports in a timely and cost effective manner; 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; 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; 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 2004, the Form 10-Q's for fiscal 2005 and the Form 8-K's for fiscal 2005 and 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 April 1, 2006, the Company operated 726 Ross stores and 20 dd's DISCOUNTS(R) locations, compared to 658 Ross stores and 10 dd's DISCOUNTS(R) 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(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. Additional information is available on the Company's website at www.rossstores.com.
SOURCE Ross Stores, Inc.
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