Ross Stores Reports March Sales, Updates First Quarter EPS Guidance
PLEASANTON, Calif., April 11, 2013
PLEASANTON, Calif., April 11, 2013 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq:
ROST) today 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."
Additional recorded information concerning today's press release and the
Company's future outlook can be accessed by calling 203-369-3267, ID# 410130,
from 8:30 a.m. Eastern time on April 11, 2013 through 8:00 p.m. Eastern time
on April 12, 2013. A transcript of these comments is available in the
Investors section of the Company's website at www.rossstores.com. April 2013
sales results will be issued on Thursday, May 9, 2013.
Forward-Looking Statements: This press release and the recorded comments on
our corporate website contain forward-looking statements regarding expected
sales, earnings levels and other financial results in future periods that are
subject to risks and uncertainties which could cause our actual results to
differ materially from management's current expectations. The words "plan,"
"expect," "target," "anticipate," "estimate," "believe," "forecast,"
"projected," "guidance," "looking ahead" and similar expressions identify
forward-looking statements. Risk factors for Ross Dress for Less^® ("Ross")
and dd's DISCOUNTS^® include without limitation, competitive pressures in the
apparel or home-related merchandise retailing industry; changes in the level
of consumer spending on or preferences for apparel or home-related
merchandise; impacts from the macro-economic environment and financial and
credit markets that affect consumer disposable income and consumer confidence,
including but not limited tointerest rates, recession, inflation,
deflation,energy costs, tax rates and policy, unemployment trends, and
fluctuating commodity costs; changes in geopolitical and geo-economic
conditions; unseasonable weather trends; potential disruptions in supply chain
or information systems; lower than planned gross margin, including higher than
planned markdowns and higher than expected inventory shortage; greater than
planned operating costs; our ability to continue to purchase attractive brand
name merchandise at desirable discounts; attracting and retaining personnel
with the retail talent necessary to execute our strategies; effectively
operating and continually upgrading our various supply chain, core
merchandising and other information systems; improving our merchandising and
transaction processing capabilities through the implementation of new
processes and systems enhancements; managing our planned data center and
headquarters moves without disruption or unanticipated costs; obtaining
acceptable new store locations and improving new store sales and
profitability, especially in newer regions and markets; adding capacity to our
existing distribution centers and building out planned additional distribution
centers timely and cost effectively; and achieving and maintaining targeted
levels of productivity and efficiency in our existing and new distribution
centers. Other risk factors are set forth in our SEC filings including without
limitation, the Form 10-K for fiscal 2012 and Form 8-Ks for fiscal 2013. The
factors underlying our forecasts are dynamic and subject to change. As a
result, our forecasts speak only as of the date they are given and do not
necessarily reflect our outlook at any other point in time. We do not
undertake to update or revise these forward-looking statements.
Ross Stores, Inc. is an S&P 500, Fortune 500 and Nasdaq 100 (ROST) company
headquartered in Pleasanton, California, with fiscal 2012 revenues of $9.7
billion. The Company operates Ross Dress for Less^® ("Ross"), the largest
off-price apparel and home fashion chain in the United States with 1,112
locations in 33 states, the District of Columbia and Guam. Ross offers
first-quality, in-season, name brand and designer apparel, accessories,
footwear and home fashions for the entire family at everyday savings of 20% to
60% off department and specialty store regular prices. The Company also
operates 115 dd's DISCOUNTS^® in nine states that feature a more
moderately-priced assortment of first-quality, in-season, name brand apparel,
accessories, footwear and home fashions for the entire family at everyday
savings of 20% to 70% off moderate department and discount store regular
prices. Additional information is available at www.rossstores.com.
Contact: Michael Hartshorn Connie Wong
Senior Vice President, Director, Investor Relations
Deputy Chief Financial Officer (925) 965-4668
(925) 965-4503 firstname.lastname@example.org
SOURCE Ross Stores, Inc.
Press spacebar to pause and continue. Press esc to stop.