Ross Sales Heat Up Through July
Wednesday August 8th, 2012 - 11:01AM
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For the quarter ended July 28, Ross Stores, Inc. posted sales totaling $2.34 billion, a 12% increase over the quarter ended July 30, 2011. Comparable store sales for the quarter increased 7%.
Ross sales increased of 12% to $709 million for the four weeks ended July 28 versus the four weeks ended July 30, 2011. Comparable store sales for fiscal July grew 7%.
In a conference call, the company indicated that Juniors and Shoes were the top-performing categories in July while the Pacific Northwest and Florida were the strongest performers by geographic region.
Michael Balmuth, vice chairman and CEO, commented in a statement about the quarter, "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, 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 cents to 81 cents, compared to our previous guidance of 77 cents to 78 cents. 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 16."
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