Ross Stores (ROST) Reports Increase in May Same-Store Sales

Ross Stores, Inc. (Nasdaq: ROST) reported sales for the four weeks ended May 31, 2008 increased 14% to $513 million from $450 million for the four weeks ended June 2, 2007. Same store sales for the month increased 7%.

For the 17 weeks ended May 31, 2008, sales totaled $2.070 billion, an 11% increase over the $1.860 billion in sales for the 17 weeks ended June 2, 2007. Comparable store sales for the 17 weeks ended May 31, 2008 increased 4% over the prior year period.

Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "We are pleased with our May sales results which exceeded our expectations. We believe this solid performance was driven mainly by our ongoing ability to deliver compelling bargains to customers throughout our stores. Business also benefited from favorable weather in many of our key markets. Dresses, Shoes and Accessories were the strongest merchandise categories, while Texas was the best-performing region."[SM]

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