PLEASANTON, Calif., Sept. 3 /PRNewswire-FirstCall/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported that sales for the four weeks ended August 29, 2009 increased 11% to $557 million from $504 million for the four weeks ended August 30, 2008. Same store sales for the month rose 6% on top of a 3% gain last year.
For the seven months ended August 29, 2009, sales totaled $4.018 billion, up 9% over the $3.700 billion in sales for the seven months ended August 30, 2008. Comparable store sales for the seven months ended August 29, 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 better-than-expected sales gains in August, which benefited from healthy back-to-school traffic during the month. Dresses and Shoes remained the strongest merchandise categories, while the Southeast was the best-performing market. Looking ahead, we continue to forecast same store sales gains of 6% to 7% for September and 5% to 6% for October."
Additional recorded information concerning today's press release and the Company's future outlook can be accessed by calling 706-645-9291, PIN #13475077, from 8:30 a.m. Eastern time on September 3, 2009 through 8:00 p.m. Eastern time on September 4, 2009. A transcript of these comments will also be available in the Investors section of the Company's website at www.rossstores.com.
The Company expects to report September 2009 sales results on Thursday, October 8th.
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 10-Q and 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 August 29, 2009 the Company operated 939 Ross Dress for Less(R) ("Ross") stores and 51 dd's DISCOUNTS(R) locations, compared to 887 Ross and 55 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.
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.
