Ross Stores (ROST) July Comps Up 7%; Boosts Q2 EPS Outlook on Strong Sales

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Ross Stores, Inc. (Nasdaq: ROST) 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 rose 12% to $2.341 billion, versus consensus views of $2.32 billion.

Now sees earnings per share for the second quarter ended July 28, 2012 to be $0.80 to $0.81, compared to our previous guidance of $0.77 to $0.78 and the consensus of $0.78.

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