Ross Stores (ROST) Comps Down 2% in January; Raises Q4 Outlook; Issues FY09 Guidance; Boosts Qtr. Dividend by 16% to $0.11/Share

Ross Stores, Inc. (Nasdaq: ROST) today reported sales for the month of January of $365 million, a 4% increase over the $350 million in sales for the four weeks ended February 2, 2008. Same store sales for the period declined 2% compared to the four weeks ended February 2, 2008.

Raises its Q4 EPS guidance from $0.73-$0.75 to $0.75-$0.76, versus the consensus of $0.74. For FY08, EPS are expected to be in the range of $2.32-$2.33.

Sees Q1 EPS of $0.56-$0.61, versus the Street estimate of $0.59. For FY09, Ross sees a same store sales decline of 1-3% and EPS in the range of $2.25-$2.45, versus the consensus of $2.30.

The Company announced that its Board of Directors recently approved a 16% increase in the quarterly cash dividend to $0.11 per common share, payable on March 31, 2009 to stockholders of record as of February 20, 2009.

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