Ross Stores Reports March Same Store Sales Gain of 6%
PLEASANTON, Calif., April 12 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported sales increased 14% to $599 million for the five weeks ended April 7, 2007, from $526 million for the five weeks ended April 8, 2006. Comparable store sales for the five weeks ended April 7, 2007 increased 6% compared to the five weeks ended April 8, 2006.
For the nine weeks ended April 7, 2007, sales totaled $994 million, an 11% increase over the $894 million in sales for the nine weeks ended April 8, 2006. Comparable store sales for the nine weeks ended April 7, 2007 were up 4% compared to the nine weeks ended April 8, 2006.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "Comparable store sales in March were slightly ahead of our expectations, driven by broad-based geographic and merchandise trends. The Southwest, California and Southeast were the strongest markets and Shoes, Home and Ladies were the best performing merchandise categories."
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 April 12, 2007 through 8:00 p.m. Eastern time on April 13, 2007. 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 will report April 2007 sales results on Thursday, May 10th.
Forward-Looking Statements: This press release and 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, our ability to convert certain Albertsons LLC real estate sites to the Ross and dd's DISCOUNTS formats in a timely and cost effective manner and on acceptable terms, and the ability to achieve targeted levels of sales, profits and cash flows from these acquired store locations; our ability to effectively operate our various supply chain, core merchandising and other information systems; our ability to improve our merchandising capabilities through the 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; 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; our ability to continue to purchase attractive brand-name merchandise at desirable discounts; our ability to identify and successfully enter new geographic markets; and our ability to attract and retain personnel with the retail talent necessary to execute our strategies. Other risk factors are detailed in our SEC filings including, without limitation, the Form 10-K and 10-Q's for fiscal 2006 and Form 8-K's for fiscal 2007. 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 company with fiscal 2006 revenues of $5.6 billion. As of April 7, 2007, the Company operated 796 Ross Dress for Less(R) ("Ross") stores and 34 dd's DISCOUNTS(R) locations, compared to 726 Ross and 20 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 on the Company's website at www.rossstores.com.
CONTACT: John 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.