Ross Stores Reports July 2012 Same Store Sales Gain
Ross Stores, Inc. today reported that sales increased 12% to $709 million for the four weeks ended July 28, 2012, up from $635 million for the four weeks ended July 30, 2011. Comparable store sales for the month grew 7% on top of a 7% increase last year.
For the quarter ended July 28, 2012, sales totaled $2.341 billion, a 12% increase over the $2.089 billion in sales for the quarter ended July 30, 2011. Same store sales for the quarter ended July 28, 2012 also increased 7% on top of 5% growth last year.
For the six months ended July 28, 2012, sales totaled $4.698 billion, a 13% increase over the $4.164 billion in sales for the six months ended July 30, 2011. Comparable store sales for the period increased 8% on top of a 4% gain last year.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "We are pleased with our robust sales gains for both July and the second quarter. These better-than-expected results demonstrate that our ability to provide a wide array of terrific name brand bargains continues to resonate with today's value-focused shoppers, driving broad-based merchandise and geographic trends."
Looking ahead, Mr. Balmuth said, "Based on our above-plan sales and gross margin in July, we now estimate earnings per share for the second quarter ended July 28, 2012 to be $.80 to $.81, compared to our previous guidance of $.77 to $.78. We will provide sales and earnings guidance for the third and fourth quarters with our second quarter earnings release and conference call on Thursday, August 16th."
Additional recorded information concerning today's press release and the Company's future outlook can be accessed by calling 203-369-3930, ID# 201208, from 8:30 a.m. Eastern time on August 2, 2012 through 8:00 p.m. Eastern time on August 3, 2012. A transcript of these comments is available in the Investors section of the Company's website at www.rossstores.com.
The Company plans to report August 2012 sales results on Thursday, August 30, 2012.
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