ROSS STORES REPORTS SECOND QUARTER SALES
ROSS STORES REPORTS SECOND QUARTER SALES NEWARK, Calif., Aug. 6 /PRNewswire/ -- Ross Stores Inc.
(NASDAQ: ROST) today reported sales of $76 million for the four week period ended Aug. 1, 1992, a 7 percent increase above the $71 million in sales for the four weeks ended Aug. 3, 1991. Comparable store sales for the same period declined 2 percent from the prior year.
Second quarter sales for the 13 weeks ended Aug. 1, 1992, were $255 million, a 10 percent increase above the $232 million in sales for the 13 weeks ended Aug. 3, 1991. Comparable store sales for the same period increased 1 percent over the prior year. For the six months through Aug. 1, 1992, sales totaled $476 million, a 10 percent increase above the $431 million in sales for the prior year's comparable period ended Aug. 3, 1991. Comparable store sales for the six-month period increased 1 percent from last year. In commenting on these results, Norman A. Ferber, president and chief executive officer, stated, "July sales were slightly better than we anticipated. We did not repeat major promotional events that ran during July of 1991 and therefore had expected a moderate decline in same store sales for the month." Ferber continued, "Despite widespread concern over the California economy, the state's comparable store sales in July continued a year-to- date trend of consistently performing at or above the company average, benefiting, we believe, from our focus on value and our position as the dominant off-price retailer in the state." Ferber concluded, "Based on our second quarter sales performance, we expect earnings per share for the 13 weeks ended Aug. 1, 1992 to be either $.37 or $.38, compared to earnings per share of $.35 for the second quarter of 1991." 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 220 stores in operation at Aug. 1, 1992, compared to 197 stores at the end of the same period last year. -0- 8/6/92 /CONTACT: Earl T. Benson, 510-505-4400, or Katie Loughnot, 510-505-4509, both of Ross Stores/ (ROST) CO: Ross Stores ST: California IN: REA SU:
MM -- SF002 -- 7404 08/06/92 08:33 EDT
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|Date:||Aug 6, 1992|
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