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ROSS STORES REPORTS THIRD QUARTER EARNINGS

 NEWARK, Calif., Nov. 18 ~PRNewswire~ -- Ross Stores Inc. (NASDAQ: ROST) announced today that net earnings for the 13 weeks ended Oct. 31, 1992, increased 48 percent to $4.9 million, or 19 cents per share, compared to net earnings of $3.3 million, or 13 cents per share, for the 13 weeks ended Nov. 2, 1991. Current year third quarter sales totaled $247 million, up 14 percent from $216 million in sales for the prior year's comparable period. Same store sales for the third quarter increased 3 percent.
 For the nine months ended Oct. 31, 1992, net earnings increased 27 percent to $17.9 million, or 69 cents per share, compared to net earnings of $14.1 million, or 56 cents per share, for the same period in 1991. Sales during the first nine months of fiscal 1992 increased 12 percent to $724 million, from $647 million for the prior year's comparable period. Same store sales for the first nine months of 1992 rose 2 percent.
 Norman A. Ferber, president and chief executive officer, commented that, "Despite a difficult economic and retail climate, we realized solid gains in both sales and earnings during the third quarter. Our results benefited from an ongoing year-to-date trend of strong sales in our core businesses of misses sportswear and traditional mens. In addition, we maintained tight controls on both inventories and expenses, which resulted in lower in-store inventory levels as we ended the third quarter, as well as a reduction in our SG&A expenses as a percent of sales compared to the prior year."
 Ross Stores Inc. operates a national chain of off-price retail stores offering first quality, in-season, branded apparel and apparel-related merchandise for the entire family. The company had 221 stores in operation at Oct. 31, 1992, compared to 197 stores in operation at the end of the same period last year.
 ROSS STORES INC.
 CONSOLIDATED STATEMENTS OF EARNINGS
 Three Months Ended Nine Months Ended
 Oct. 31, Nov. 2, Oct. 31, Nov. 2,
 ($000 except per 1992 1991 1992 1991
 share data,
 unaudited)
 SALES:
 Total net sales $247,388 $215,994 $723,694 $647,366
 Less net sales of
 leased depart-
 ments 510 589 1,906 2,119
 Own Net Sales 246,878 215,405 721,788 645,247
 Other income 50 54 176 189
 Total 246,928 215,459 721,964 645,436
 COSTS AND EXPENSES:
 Cost of goods sold
 and occupancy 176,810 154,596 514,250 457,261
 General, selling
 and administrative 56,433 50,028 161,434 149,105
 Depreciation and
 amortization 4,836 4,101 13,821 11,630
 Interest 643 1,336 2,690 4,399
 Total 238,722 210,061 692,195 622,395
 Earnings before
 taxes 8,206 5,398 29,769 23,041
 Provision for taxes
 on earnings 3,282 2,105 11,907 8,986
 Net earnings $ 4,924 $ 3,293 $ 17,862 $ 14,055
 Net earnings per
 share:
 Primary $0.19 $0.13 $0.70 $0.58
 Fully diluted $0.19 $0.13 $0.69 $0.56
 Weighted average
 shares outstanding:
 Primary 25,609 24,930 25,619 24,322
 Fully diluted 25,849 25,038 25,818 24,958
 Stores open end of
 period: --- --- 221 197
 ROSS STORES INC.
 CONDENSED CONSOLIDATED BALANCE SHEETS
 Oct. 31, Nov. 2,
 ($000, unaudited) 1992 1991
 ASSETS
 Current Assets
 Cash $ 10,121 $ 9,325
 Accounts receivable 7,210 5,173
 Merchandise inventory 251,645 223,642
 Other current assets 11,837 10,648
 Total Current Assets 280,813 248,788
 Property and equipment, net 128,498 125,165
 Lease rights and other assets 9,790 10,283
 Excess of cost over net assets of
 acquired subsidiary 4,086 4,235
 Total $423,187 $388,471
 LIABILITIES AND SHAREHOLDERS' EQUITY
 Current Liabilities
 Accounts payable, accrued expenses
 and other $159,920 $145,906
 Income taxes payable 8,881 109
 Total Current Liabilities 168,801 146,015
 Long-term debt 51,576 82,370
 Deferred income taxes and
 other liabilities 17,023 17,560
 Stockholders' Equity
 Capital stock 250 240
 Additional paid-in capital 112,103 100,374
 Retained earnings 73,434 41,912
 Subtotal 185,787 142,526
 Total $423,187 $388,471
 -0- 11~18~92
 ~CONTACT: Earl T. Benson, senior vice president & chief financial officer, 510-505-4400, or Katie Loughnot, manager, Investor Relations, 510-505-4509, both of Ross Stores~
 (ROST)


CO: Ross Stores Inc. ST: California IN: REA SU: ERN

ML-SG -- SF001 -- 2164 11~18~92 08:03 EST
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Date:Nov 18, 1992
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