Ross Stores (ROST) January Comps Rose 4%; Boosts Outlook; Approves $1.1B Buybacl, Raises Dividend
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Price: $245.36 +0.16%
Revenue Growth %: +11.2%
Financial Fact:
Sales: 3.09B
Today's EPS Names:
SVBT, ZEO, OTLK, More
Revenue Growth %: +11.2%
Financial Fact:
Sales: 3.09B
Today's EPS Names:
SVBT, ZEO, OTLK, More
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Ross Stores, Inc. (Nasdaq: ROST) today reported sales for the five weeks ended February 2, 2013 of $672 million, an increase of 39% over the $483 million in sales for the four weeks ended January 28, 2012. Same store sales for the four weeks ended January 26, 2013 grew 4% on top of a 5% gain for the four weeks ended January 28, 2012.
For the 14 weeks ended February 2, 2013, sales rose 15% to $2.761 billion, from $2.398 billion for the 13 weeks ended January 28, 2012. Comparable store sales for the 13 weeks ended January 26, 2013 were up 5% over a 7% increase for the 13 weeks ended January 28, 2012.
For the 53 weeks ended February 2, 2013, sales grew 13% to $9.721 billion, compared to $8.608 billion in sales for the 52 weeks ended January 28, 2012. Comparable store sales for the 52 weeks ended January 26, 2013 rose 6% on top of a 5% increase for the 52 weeks ended January 28, 2012.
Based on January sales and margin results, the Company is raising its earnings per share estimates for the 14 and 53 weeks ended February 2, 2013 to be in the range of $1.06 to $1.07 and $3.52 to $3.53, respectively. The projected results for both periods include an estimated per share benefit of approximately $.10 from the 53rd week. Earnings per share for the 13 and 52 weeks ended January 28, 2012 were $.85 and $2.86, respectively.
*** The Street sees Q1 EPS of $1.06 and FY12 EPS of $3.52.
The Company announced that its Board of Directors recently approved the repurchase of up to $1.1 billion of its common stock over the next two years through fiscal 2014. At recent stock prices, this new authorization represents about 8% of the Company’s total market value and a 22% increase over the prior two-year $900 million authorization that was completed in January 2013.
The Board also raised the quarterly cash dividend to $.17 per share, up 21% on top of a 27% increase in the prior year.
For the 14 weeks ended February 2, 2013, sales rose 15% to $2.761 billion, from $2.398 billion for the 13 weeks ended January 28, 2012. Comparable store sales for the 13 weeks ended January 26, 2013 were up 5% over a 7% increase for the 13 weeks ended January 28, 2012.
For the 53 weeks ended February 2, 2013, sales grew 13% to $9.721 billion, compared to $8.608 billion in sales for the 52 weeks ended January 28, 2012. Comparable store sales for the 52 weeks ended January 26, 2013 rose 6% on top of a 5% increase for the 52 weeks ended January 28, 2012.
Based on January sales and margin results, the Company is raising its earnings per share estimates for the 14 and 53 weeks ended February 2, 2013 to be in the range of $1.06 to $1.07 and $3.52 to $3.53, respectively. The projected results for both periods include an estimated per share benefit of approximately $.10 from the 53rd week. Earnings per share for the 13 and 52 weeks ended January 28, 2012 were $.85 and $2.86, respectively.
*** The Street sees Q1 EPS of $1.06 and FY12 EPS of $3.52.
The Company announced that its Board of Directors recently approved the repurchase of up to $1.1 billion of its common stock over the next two years through fiscal 2014. At recent stock prices, this new authorization represents about 8% of the Company’s total market value and a 22% increase over the prior two-year $900 million authorization that was completed in January 2013.
The Board also raised the quarterly cash dividend to $.17 per share, up 21% on top of a 27% increase in the prior year.
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