PLEASANTON, Calif., April 9 /PRNewswire-FirstCall/ -- Ross Stores, Inc.
(Nasdaq: ROST) today reported that sales increased 8% to $682 million for the
five weeks ended April 4, 2009, up from $633 million for the five weeks ended
April 5, 2008. Comparable store sales for the month grew 3% from the prior
year.
For the nine weeks ended April 4, 2009, sales totaled $1.158 billion, an
8% increase over the $1.077 billion in sales for the nine weeks ended April 5,
2008. Comparable store sales for the nine weeks ended April 4, 2009 grew 2%
over the prior year period.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer,
commented, "We are very pleased with our solid sales gains in March, which
were well ahead of our projections. We believe our business continues to
benefit from our ability to deliver compelling bargains to today's
increasingly value-focused consumers. Better-than-expected weather also
contributed to our strong performance during the month. Dresses and Shoes
were the best performing merchandise categories while the Mid-Atlantic and
Southeast were the strongest regions."
Mr. Balmuth continued, "Looking ahead, we are now forecasting a 3% to 5%
increase in April same store sales, which takes into consideration our recent
sales results along with the projected impact from the Easter calendar shift.
Assuming that April sales perform in line with this updated forecast, and with
favorable gross margin and expense trends for the first two months of the
quarter, we now project that earnings per share for the 13 weeks ending May 2,
2009 will be $.68 to $.70. This updated range compares to our prior forecast
of $.56 to $.61, and would represent an estimated 13% to 17% increase over the
$.60 in earnings per share for the quarter ended May 3, 2008."
Additional recorded information concerning today's press release and the
Company's future outlook can be accessed by calling 706-645-9291, ID#
82461754, from 8:30 a.m. Eastern time on April 9, 2009 through 8:00 p.m.
Eastern time on April 10, 2009. A transcript of these comments is available
in the Investors section of the corporate website at www.rossstores.com. The
Company will report April 2009 sales results on Thursday, May 7th.
Forward-Looking Statements: This press release and the recorded comments
and transcript on our corporate 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. The words "plan,"
"expect," "target," "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, competitive pressures in
the apparel or home-related merchandise 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 the severity and duration of the current recession; 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 and 10-Q's for fiscal
2008 and Form 8-K's for fiscal 2008 and 2009. 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 retailer with fiscal 2008 revenues of $6.5 billion. As of April 4,
2009, the Company operated 922 Ross Dress for Less(R) ("Ross") stores and 52
dd's DISCOUNTS(R) locations, compared to 864 Ross and 54 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 www.rossstores.com.
SOURCE Ross Stores, Inc.
CONTACT:
John Call,
Senior Vice President, Chief Financial Officer
+1-925-965-4315
or Bobbi Chaville
Senior Director, Investor Relations
+1-925-965-4289
bobbi.chaville@ros.com, both of Ross Stores, Inc.
Web Site: http://www.rossstores.com
