Ross Stores (ROST) Comps Up 2% in November; Reaffirms Outlook
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Ross Stores, Inc. (Nasdaq: ROST) today reported that sales increased 6% to $813 million for the four weeks ended November 24, 2012, up from $765 million in sales for the four weeks ended November 26, 2011. Comparable store sales for the month grew 2% on top of a 5% increase in the prior year.
For the ten months ended November 24, 2012, sales totaled $7.773 billion, an 11% increase over the $6.976 billion in sales for the ten months ended November 26, 2011. Comparable store sales for the ten months ended November 24, 2012 grew 7% on top of a 5% gain in 2011.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "November same store sales were slightly ahead of our expectations of flat to up 1%. We achieved these results despite unseasonably warm weather in the Western U.S. during the first half of the month. We are encouraged that our sales strengthened as weather normalized during the final two weeks."
Looking ahead, Mr. Balmuth continued, "While we are pleased with our above-plan results in November, most of the holiday shopping period is still ahead of us. As a result, we continue to project comparable store sales gains of 2% to 3% and 1% to 2% for December and January, respectively."
For the ten months ended November 24, 2012, sales totaled $7.773 billion, an 11% increase over the $6.976 billion in sales for the ten months ended November 26, 2011. Comparable store sales for the ten months ended November 24, 2012 grew 7% on top of a 5% gain in 2011.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "November same store sales were slightly ahead of our expectations of flat to up 1%. We achieved these results despite unseasonably warm weather in the Western U.S. during the first half of the month. We are encouraged that our sales strengthened as weather normalized during the final two weeks."
Looking ahead, Mr. Balmuth continued, "While we are pleased with our above-plan results in November, most of the holiday shopping period is still ahead of us. As a result, we continue to project comparable store sales gains of 2% to 3% and 1% to 2% for December and January, respectively."
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