ROSS STORES REPORTS FEBRUARY SALES
ROSS STORES REPORTS FEBRUARY SALES NEWARK, Calif., March 5 /PRNewswire/ -- Ross Stores Inc.
(NASDAQ: ROST) today reported sales of $53 million for the four week period ended Feb. 29, 1992, a 2 percent increase above the $52 million recorded for the four weeks ended March 2, 1991. Comparable store sales for the month declined 6 percent from the same period last year.
In commenting on these sales results, Norman A. Ferber, president and chief executive officer, stated, "We expected same store sales to be negative in February due to the effect of two key issues. We entered the month with substantially lower fall and basic clearance merchandise compared to February of 1991. In addition, we eliminated a promotional event that generated significant sales volume but had a negative effect on our gross margin last 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 204 stores in operation at Feb. 29, 1992, compared to 185 stores at the end of the same period last year. -0- 3/5/92 /CONTACT: Earl T. Benson, 510-505-4400; or Katie Loughnot, 510-505-4509, both of Ross Stores/ (ROST) CO: Ross Stores, Inc. ST: California IN: REA SU: ERN
DG -- SF003 -- 5261 03/05/92 08:32 EST
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|Date:||Mar 5, 1992|
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