Ross Stores Reports September Same Store Sales Gain of 9%
PLEASANTON, Calif., Oct 06, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported sales of $446 million for the five week period ended October 1, 2005, a 19% increase above the $374 million in sales for the five weeks ended October 2, 2004. Comparable store sales for the same period rose 9% over the prior year.
For the eight month period ended October 1, 2005, sales were $3.130 billion, a 16% increase above the $2.687 billion in sales for the prior year's comparable period ended October 2, 2004. Comparable store sales for the eight months grew 6% over the prior year.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "We are pleased to report that September results were ahead of our forecast for a 6% to 7% increase in comparable store sales, benefiting from continued strength in Shoes, Home, Children's and Juniors. In addition, most of the higher-than-planned business during September was driven by full-margin sales, as markdowns remained in line with expectations. Looking ahead, we continue to project that same store sales will increase 3% to 4% in October on top of a 4% gain in the prior year."
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 October 6, 2005 through 8:00 p.m. Eastern time on October 7, 2005. 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 October sales results on Thursday, November 3rd and fiscal 2005 third quarter earnings results on Tuesday, November 15th.
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 and integrate various 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, including higher than planned markdowns and higher than expected inventory shortage; and greater than planned operating costs. Other risk factors are detailed in the Company's SEC filings including, without limitation, the Form 10-K for fiscal 2004 and the Form 10-Q's and Form 8-K's for fiscal 2005. 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 October 1, 2005, the Company operated 713 Ross stores and 20 dd's DISCOUNTS(R) locations, compared to 641 Ross stores and 9 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.
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 email@example.com, both of Ross Stores, Inc.