Ross Stores (ROST) Comps Up 5% in Sept., Boosts Quarterly EPS Outlook

Ross Stores, Inc. (Nasdaq: ROST) today reported that sales increased 10% to $800 million for the five weeks ended September 29, 2012, up from $726 million in sales for the five weeks ended October 1, 2011. Comparable store sales for the month grew 5% on top of a 5% gain in the prior year.

For the eight months ended September 29, 2012, sales totaled $6.245 billion, a 13% increase over the $5.549 billion in sales for the eight months ended October 1, 2011. Comparable store sales for the eight months ended September 29, 2012 rose 8% on top of a 5% gain in 2011.

Sees Q3 EPS of $0.70 - $0.71, from $0.63 - $0.66 prior and the consensus of $0.69.

For the 13 weeks ending January 26, 2013, the Company continues to project same store sales to be up 1% to 2%. Earnings per share for the 14 weeks ending February 2, 2013 remains in the range of $.99 to $1.04, which includes an estimated $.08 to $.09 benefit from the 53rd week this year, and compares to $.85 for the 13 weeks ended January 28, 2012.

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