Ross Stores Reports May Sales
PLEASANTON, Calif., June 2 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported sales of $370 million for the four weeks ended May 28, 2005, a 16% increase above the $319 million in sales for the four weeks ended May 29, 2004. Comparable store sales for the month increased 7% over the prior year.
For the four months ended May 28, 2005, sales were $1.494 billion, a 14% increase above the $1.311 billion in sales for the prior year's comparable period ended May 29, 2004. Comparable store sales for the four month period grew 4% over the prior year.
In commenting on these results, Michael Balmuth, Vice Chairman, President and Chief Executive Officer, stated, "May sales performed in line with expectations, benefiting from continued strength in Juniors, Accessories and Shoes. As a result, we are maintaining our prior projections for same store sales to increase 7% to 8% in June and 5% to 6% in July. Our prior forecast of $.30 to $.32 in earnings per share for the 13 weeks ending July 30, 2005 also remains unchanged."
The Company expects to report June sales results on Thursday, July 7th. 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 June 2, 2005 through 8:00 p.m. Eastern time on June 3, 2005. A transcript of these comments, as well as additional information on the Company, is available at www.rossstores.com.
Forward-Looking Statements: This press release and the recorded comments and transcript on the Company's website contain forward-looking statements regarding planned new store growth and expected sales and earnings levels and forward-looking statements concerning the Company's distribution centers and information systems, all of which are subject to risks and uncertainties that 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(SM) include, without limitation, the Company's ability to effectively operate and integrate various new supply chain and core merchandising systems, including generation of all necessary information in a timely and cost effective manner; 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 and greater than planned operating costs. Other risk factors are detailed in the Company's Form 10-K for fiscal 2004. 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 2004 revenues of $4.2 billion. As of May 28, 2005, the Company operated 668 Ross stores and ten dd's DISCOUNTS(SM) stores, compared to 606 Ross 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(SM) 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,
Katie Loughnot, Vice President, Investor Relations,
firstname.lastname@example.org, both of Ross Stores, Inc.
Web site: http://www.rossstores.com