PLEASANTON, Calif., June 4 /PRNewswire-FirstCall/ -- Ross Stores, Inc.
(Nasdaq: ROST) today reported that sales for the four weeks ended May 30, 2009
increased 10% to $564 million from $513 million for the four weeks ended May
31, 2008. Same store sales for the month increased 4% on top of a strong 7%
gain in the prior year.
For the 17 weeks ended May 30, 2009, sales totaled $2.256 billion, a 9%
increase over the $2.070 billion in sales for the 17 weeks ended May 31, 2008.
Comparable store sales for the 17 weeks ended May 30, 2009 increased 3% on top
of a 4% gain in the prior year period.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer,
commented, "We are very pleased with our solid sales gains in May, especially
given the difficult prior year comparison. We believe that our performance
continues to benefit mainly from our ongoing focus on delivering fresh and
exciting bargains to today's increasingly value-oriented consumers. Weather
in many of our key markets was also favorable during the month. Dresses and
Shoes remained the strongest merchandise categories in May, while the
Mid-Atlantic and Southeast were the best-performing regions."
Additional recorded information concerning today's press release and the
Company's future outlook can be accessed by calling 706-645-9291, PIN #
82461981, from 8:30 a.m. Eastern time on June 4, 2009 through 8:00 p.m.
Eastern time on June 5, 2009. 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 will report June 2009 sales results on
Thursday, July 9th.
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 for fiscal 2008 and Form
8-K's for fiscal 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 May 30,
2009 the Company operated 922 Ross Dress for Less(R) ("Ross") stores and 52
dd's DISCOUNTS(R) locations, compared to 863 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
