Ross Stores' (ROST) CEO Balmuth Raises Full year Guidance; Same Store Sales Up 8%
Ross Stores, Inc. (Nasdaq: ROST) today reported that sales for the five weeks ended October 3, 2009 increased 12% from the same period ended October 2008. Same store sales for the month rose 8%.
For the eight months ended October 3, 2009, sales were up 9% over the same period in 2008. Comparable store sales for the eight months ended October 3, 2009 increased 4% on top of a 3% gain in the prior year period.
"September comparable store sales exceeded our expectations for a 6% to 7% increase," comments Michael Balmuth, Vice Chairman, President and Chief Executive Officer. Mr. Balmuth continues, "For the important holiday period, we continue to project a comparable store sales gain of 5% to 6% and earnings per share of $.88 to $.94 for the 13 weeks ending January 30, 2010. For the 2009 fiscal year ending January 30, 2010, earnings per share are now projected to be in the range of $3.18 to $3.26, a forecasted increase of 36% to 40% over $2.33 in fiscal 2008."
The CEO's comments for full year guidance are above the street's consensus of $3.11.
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