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ROSS STORES ANNOUNCES STOCK REPURCHASE AND ESTIMATED 1992 RESULTS

 Newark, Calif., Feb. 4 /PRNewswire/ -- Ross Stores Inc. (NASDAQ: ROST) announced today that its board of directors authorized the purchase of up to one million (1,000,000) shares, or approximately 4 percent, of the company's outstanding common stock. The company intends to purchase these shares from time to time in open-market or privately arranged transactions and will finance the purchases with existing cash and credit facilities.
 The company also reported its January and fiscal 1992 sales results. For the four-week period ended Jan. 30, 1993, sales totaled $49 million, a 7-percent increase above the $46 million in sales for the four weeks ended Feb. 1, 1992. Comparable store sales for the same period were down 1 percent from last year.
 For the 13 weeks ended Jan. 30, 1993, sales were $322 million, a 14-percent increase above the $282 million in sales for the 13 weeks ended Feb. 1, 1992. Comparable store sales for the same period increased 4 percent from the prior year.
 For the 1992 fiscal year ended Jan. 30, 1993, annual sales surpassed the billion-dollar mark for the first time in the company's history. Total sales increased 12 percent to a record $1.046 billion, from $930 million in sales for the prior year. Comparable store sales for the 52-week period increased 3 percent over 1991.
 In commenting on these results, Norman A. Ferber, president and chief executive officer, stated, "We are pleased with our overall fourth quarter results which benefited from stronger than expected sales during the important months of November and December. January sales were negatively affected by severe winter weather, especially in California, and lower levels of seasonal clearance goods. Based on this fourth quarter performance, we estimate that earnings per share for the 52 weeks ended Jan. 30, 1993 will be in the range of $1.29 to $1.31, compared to earnings per share of $1.09 in fiscal 1991." Final earnings results for the fourth quarter of fiscal 1992 and the year will be reported on March 15, 1993.
 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 223 stores in operation Jan. 30, 1993, compared to 203 stores at the end of the same period last year.
 -0- 2/4/93
 /CONTACT: Earl T. Benson, senior vice president and chief financial officer, 510-505-4400, or Katie Loughnot, manager of Investor Relations, 510-505-4509, both of Ross Stores/
 (ROST)


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

SG -- SF001 -- 2764 02/04/93 08:34 EST
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Publication:PR Newswire
Date:Feb 4, 1993
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