Ross Stores (ROST) Comps Rose 2% in March; Sees Q1 EPS Slightly Above Prior Guidance
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Price: $228.99 -2.43%
Financial Fact:
Costs of goods sold: 2.21B
Today's EPS Names:
EDXC, BICX, FBPI, More
Financial Fact:
Costs of goods sold: 2.21B
Today's EPS Names:
EDXC, BICX, FBPI, More
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Ross Stores, Inc. (Nasdaq: ROST) reported that sales increased 6% to $1.036 billion for the five weeks ended April 6, 2013, up from $980 million for the five weeks ended April 7, 2012. Comparable store sales for the five weeks ended April 6, 2013 rose 2% compared to a 10% increase for the five weeks ended March 31, 2012.
For the nine weeks ended April 6, 2013, sales grew 4% to $1.762 billion, up from $1.687 billion for the nine weeks ended April 7, 2012. Comparable store sales for the nine weeks ended April 6, 2013 increased 1% versus a 10% gain for the nine weeks ended March 31, 2012.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "March same store sales outperformed our guidance for a 1% to 2% decline and were on top of exceptionally strong prior year comparisons. As a reminder, these results were impacted by the holiday calendar shift, with Easter Sunday store closures occurring in March this year versus April last year."
Mr. Balmuth continued, "Looking ahead, we continue to forecast a 5% to 6% increase in April comparable store sales. Based on our quarter-to-date results, and our outlook for April, we now project earnings per share to be slightly above the high-end of our previous range of $1.00 to $1.04 for the 13 weeks ended May 4, 2013. This updated forecast compares to $.93 for the 13 weeks ended April 28, 2012."
For the nine weeks ended April 6, 2013, sales grew 4% to $1.762 billion, up from $1.687 billion for the nine weeks ended April 7, 2012. Comparable store sales for the nine weeks ended April 6, 2013 increased 1% versus a 10% gain for the nine weeks ended March 31, 2012.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "March same store sales outperformed our guidance for a 1% to 2% decline and were on top of exceptionally strong prior year comparisons. As a reminder, these results were impacted by the holiday calendar shift, with Easter Sunday store closures occurring in March this year versus April last year."
Mr. Balmuth continued, "Looking ahead, we continue to forecast a 5% to 6% increase in April comparable store sales. Based on our quarter-to-date results, and our outlook for April, we now project earnings per share to be slightly above the high-end of our previous range of $1.00 to $1.04 for the 13 weeks ended May 4, 2013. This updated forecast compares to $.93 for the 13 weeks ended April 28, 2012."
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