Press release from PR Newswire
Ross Stores Reports February Sales
Thursday, March 07, 2013
Ross Stores Reports February Sales08:30 EST Thursday, March 07, 2013PLEASANTON, Calif., March 7, 2013 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported that sales increased 3% to $726 million for the four weeks ended March 2, 2013, up from $707 million for the four weeks ended March 3, 2012. Comparable store sales for the four weeks ended March 2, 2013 declined 1% versus the same period last year. This compared to a strong 9% gain for the four weeks ended February 25, 2012. Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "We believe the slight decline in February same store sales was mainly due to the delay in income tax refunds. With sales improving as the month progressed, we continue to forecast same store sales in March and April to be down 1% to 2% and up 5% to 6%, respectively. This monthly guidance reflects the shift in the Easter holiday and is on top of last year's robust same store sales gains of 10% in March and 7% in April." Additional recorded information concerning today's press release and the Company's future outlook can be accessed by calling 203-369-3267, PIN # 361300 from 8:30 a.m. Eastern time on March 7, 2013 through 8:00 p.m. Eastern time on March 8, 2013. A transcript of these comments will also be available in the Investors section of the Company's website at www.rossstores.com. The Company expects to report fourth quarter 2012 earnings results on Thursday, March 21, 2013 and March 2013 sales on Thursday, April 11, 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 retailing 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 geo-economic 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 2011 and Form 10-Qs and 8-Ks for fiscal 2012 and 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 1,091 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 RelationsDeputy Chief Financial Officer (925) 965-4668(925) 965-4503 firstname.lastname@example.orgSOURCE Ross Stores, Inc.