Ross Stores Reports April Same Store Sales Gain of 7%, Increases First Quarter
Earnings Per Share Estimate
PLEASANTON, Calif., May 9, 2013
PLEASANTON, Calif., May 9, 2013 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq:
ROST) today reported that sales increased 12% to $778 million for the four
weeks ended May 4, 2013, up from $697 million for the four weeks ended May 5,
2012. Comparable store sales for the four weeks ended May 4, 2013 rose 7%
compared to a 7% increase for the four weeks ended April 28, 2012.
For the thirteen weeks ended May 4, 2013, sales totaled $2.540 billion, a 6%
increase over the $2.385 billion in sales for the thirteen weeks ended May 5,
2012. Comparable store sales for the thirteen weeks ended May 4, 2013 rose 3%
over the thirteen weeks ended May 5, 2012. For the first quarter ended April
28, 2012, same store sales grew 9%.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "We are
pleased with the above-plan sales and margin gains we achieved for both April
and the first quarter, especially considering our very strong prior year
comparisons. These results were driven by our ongoing ability to deliver
compelling bargains to today's value-focused customers."
Mr. Balmuth continued, "We now estimate earnings per share for the 13 weeks
ended May 4, 2013 to be $1.06 to $1.07, compared to our initial guidance of
$1.00 to $1.04. This updated range includes an approximate $.02 benefit
versus our original projections related to the favorable timing of expenses
that are expected to shift into subsequent quarters within the fiscal year."
Detailed sales and earnings guidance for the second quarter of 2013 will be
provided with the Company's first quarter earnings release and conference
call, which is now scheduled to be held at 4:15 p.m. Eastern time on Thursday,
May 23rd. In addition, as previously announced and beginning in the second
quarter of 2013, the Company will no longer report monthly sales.
Additional recorded information concerning today's press release and the
Company's future outlook can be accessed by calling 203-369-3267, ID# 581300
from 8:30 a.m. Eastern time on May 9, 2013 through 8:00 p.m. Eastern time on
May 10, 2013. A transcript of these comments is available in the Investors
section of the Company's website at www.rossstores.com.
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 estimated
earnings per share for the first quarter ended May 4, 2013 are preliminary and
subject to adjustments. 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 email@example.com
SOURCE Ross Stores, Inc.
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