Press release from PR Newswire
Ross Stores Reports November Same Store Sales Gain of 5%
Thursday, December 01, 2011
Ross Stores Reports November Same Store Sales Gain of 5%08:30 EST Thursday, December 01, 2011PLEASANTON, Calif., Dec. 1, 2011 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported that sales increased 10% to $765 million for the four weeks ended November 26, 2011, up from $696 million in sales for the four weeks ended November 27, 2010. Comparable store sales for the month grew 5% on top of a 6% increase in the prior year. For the ten months ended November 26, 2011, sales totaled $6.976 billion, a 9% increase over the $6.417 billion in sales for the ten months ended November 27, 2010. Comparable store sales for the ten months ended November 26, 2011 grew 5% on top of a 6% gain in 2010.Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "November same store sales were ahead of our expectations for a 2% to 3% increase as we continue to benefit from consumers' ongoing focus on value. Juniors and Shoes were the strongest merchandise categories for the month, while the Southwest, Florida and California were the best-performing regions." Looking ahead, Mr. Balmuth continued, "While we are pleased with our above-plan results in November, we still have most of the holiday shopping period ahead of us. As a result, we continue to project comparable store sales gains of 3% to 4% and 1% to 2% for December and January, respectively." Additional recorded information concerning today's press release and the Company's future outlook can be accessed by calling 404-537-3406, ID# 60533065, from 8:30 a.m. Eastern time on December 1, 2011 through 8:00 p.m. Eastern time on December 2, 2011. A transcript of these comments is available in the Investors section of the corporate website at www.rossstores.com. The Company plans to issue December 2011 sales results on Thursday, January 5th.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 industry; changes in the level of consumer spending on or preferences for apparel or home-related merchandise; the impact from the macro-economic environment and financial and credit markets including but not limited to interest rates, recession, inflation, deflation, energy costs, tax rates and policy, unemployment trends, and fluctuating commodity costs; changes in geopolitical and geoeconomic conditions; unseasonable weather trends; disruptions in supply chain; 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; our ability to attract and retain personnel with the retail talent necessary to execute our strategies; our ability to effectively operate our various supply chain, core merchandising and other information systems; our ability to improve our merchandising capabilities through the implementation of new processes and systems enhancements; achieving and maintaining targeted levels of productivity and efficiency in our distribution centers; and obtaining acceptable new store locations. Other risk factors are set forth in our SEC filings including without limitation, the Form 10-K for fiscal 2010 and Form 10-Qs and 8-Ks for fiscal 2011. 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 2010 revenues of $7.9 billion. The Company operates Ross Dress for Less® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,038 locations in 29 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 88 dd's DISCOUNTS® in seven 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:John Call Bobbi Chaville Senior Vice President, Senior Director, Investor Relations Chief Financial Officer (925) 965-4289 (925) 965-4315 email@example.comSOURCE Ross Stores, Inc.