Ross Stores Reports November Sales
PLEASANTON, Calif., Dec. 4 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported sales of $568 million for the four weeks ended November 29, 2008, a 4% increase over the $547 million in sales for the four weeks ended December 1, 2007. Same store sales for the four weeks ended November 29, 2008 declined 2% from the four weeks ended December 1, 2007.
For the ten months ended November 29, 2008, sales were $5.320 billion, a 9% increase over the $4.870 billion in sales for the ten months ended December 1, 2007. Comparable store sales for the ten months ended November 29, 2008 rose 2% over the ten months ended December 1, 2007.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "We are pleased with our November results which continued to reflect the resilience of our off-price business model. Despite the tough economic and retail environment, same store sales for the month were slightly better than expected, with merchandise gross margin in line with plan. Dresses remained the best performing merchandise category for both the month and year-to-date periods, while geographic trends were generally broad-based. Looking ahead, we continue to forecast same store sales to be relatively flat for December and down 2% to 4% for January."
Additional recorded information concerning today's press release and the Company's future outlook can be accessed by calling 706-645-9291, PIN # 50663646 from 8:30 a.m. Eastern time on December 4, 2008 through 8:00 p.m. Eastern time on December 5, 2008. A transcript of these comments is available at http://www.rossstores.com.
Forward-Looking Statements: This press release and the recorded comments on our website contain forward-looking statements regarding expected sales and earnings levels in future periods that are subject to risks and uncertainties which could cause our actual results to differ materially from management's current expectations. 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 financial and credit markets and higher gas and commodity 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; and obtaining acceptable new store locations. Other risk factors are detailed in our SEC filings including, without limitation, the Form 10-K for fiscal 2007 and Form 10-Q's and 8-K's for fiscal 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 November 29, 2008, the Company operated 908 Ross Dress for Less(R) ("Ross") stores and 57 dd's DISCOUNTS(R) locations, compared to 841 Ross and 52 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. -0- 12/04/2008 /CONTACT: John G. Call, Senior Vice President, Chief Financial Officer, +1-925-965-4315, or Bobbi Chaville, Senior Director, Investor Relations, +1-925-965-4289, email@example.com, both of Ross Stores, Inc./ /Web site: http://www.rossstores.com / (ROST) CO: Ross Stores, Inc. ST: California IN: REA SU: CCA SD-AE -- AQTH021 -- 5544 12/04/2008 08:30 EST http://www.prnewswire.com