Ross Stores Reports November Sales
PLEASANTON, Calif., Nov. 30 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported sales of $481 million for the four weeks ended November 25, 2006, a 7% increase over the $451 million in sales for the four weeks ended November 26, 2005. Comparable store sales for the month were flat on top of a 5% increase in the prior year.
For the ten months ended November 25, 2006, sales totaled $4.442 billion, a 12% increase over the $3.983 billion in sales for the ten months ended November 26, 2005. For the year-to-date period ended November 25, 2006, comparable store sales grew 4% on top of a 6% gain in the prior year period.
In commenting, Michael Balmuth, Vice Chairman, President and Chief Executive Officer, said, "Although November same store sales were slightly below our forecast for a 1% to 3% increase, we are pleased to report that business strengthened during the latter half of the month. Geographic trends were relatively broadbased, and Home and Shoes remained the top-performing merchandise categories."
Mr. Balmuth continued, "Looking ahead, we believe our merchandise assortments are well positioned for the holiday period, and we remain cautiously optimistic about our prospects for both sales and earnings over the balance of the fourth quarter. We continue to project that same store sales will increase 1% to 3% in both December and January, and that earnings per share for the 14 weeks ending February 3, 2007 will be in the range of $.59 to $.65."
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 November 30, 2006 through 8:00 p.m. Eastern time on December 1, 2006. 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 expects to report December sales results on Thursday, January 4, 2007.
Forward-Looking Statements: This press release, the recorded comments and other material on the Company's website contain forward-looking statements 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 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; the Company's ability to effectively operate its various supply chain, core merchandising and other information systems; 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; 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; 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 2005 and the Form 10-Q's and 8-K's for fiscal 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 November 25, 2006, the Company operated 773 Ross stores and 26 dd's DISCOUNTS locations, compared to 715 Ross stores and 20 dd's DISCOUNTS 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 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.
/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/