Ross Stores (ROST) Comps Up 7%; Boosts Q2 EPS Outlook to 77c - 78c
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Price: $65.35 +0.35%
EPS Growth %: +25.9%
Financial Fact:
Costs of goods sold: 1.99B
Today's EPS Names:
MGT, RXN, KID, More
EPS Growth %: +25.9%
Financial Fact:
Costs of goods sold: 1.99B
Today's EPS Names:
MGT, RXN, KID, More
Trade ROST Now!
Ross Stores, Inc. (Nasdaq: ROST) today reported that sales increased 12% to $886 million for the five weeks ended June 30, 2012, up from $793 million for the five weeks ended July 2, 2011. Comparable store sales for the month grew 7% on top of a 5% increase last year.
For the 22 weeks ended June 30, 2012, sales totaled $3.989 billion, a 13% increase over the $3.529 billion in sales for the 22 weeks ended July 2, 2011. Comparable store sales for the five months ended June 30, 2012 increased 8% on top of a 4% gain last year.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "We are pleased with our better-than-expected June sales. Our ongoing ability to deliver terrific name brand bargains to today's value-focused shoppers drove broad-based merchandise and geographic sales gains during the month."
Looking ahead, Mr. Balmuth said, "Based on our above plan sales and gross margin performance in May and June, and our continued projection for a 2% to 3% increase in July same store sales, we now are forecasting earnings per share for the second quarter ending July 28, 2012 to be $.77 to $.78. This updated range compares to our previous guidance of $.72 to $.75 and EPS of $.64 in the second quarter of 2011."
The Street is looking for EPS of $0.77.
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For the 22 weeks ended June 30, 2012, sales totaled $3.989 billion, a 13% increase over the $3.529 billion in sales for the 22 weeks ended July 2, 2011. Comparable store sales for the five months ended June 30, 2012 increased 8% on top of a 4% gain last year.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "We are pleased with our better-than-expected June sales. Our ongoing ability to deliver terrific name brand bargains to today's value-focused shoppers drove broad-based merchandise and geographic sales gains during the month."
Looking ahead, Mr. Balmuth said, "Based on our above plan sales and gross margin performance in May and June, and our continued projection for a 2% to 3% increase in July same store sales, we now are forecasting earnings per share for the second quarter ending July 28, 2012 to be $.77 to $.78. This updated range compares to our previous guidance of $.72 to $.75 and EPS of $.64 in the second quarter of 2011."
The Street is looking for EPS of $0.77.
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