Ross Reports Sales Increase in Sept.
October 7, 2010,
PLEASANTON, Calif.-Ross Stores, Inc., reported sales for the five weeks ended Oct. 2, 2010, increased 6 percent to $666 million from $629 million for the five weeks ended Oct. 3, 2009. Same store sales for the month rose 2 percent on top of an 8 percent gain in the prior year.
Michael Balmuth, vice chairman and chief executive officer, said earnings per share for the 13 weeks ending Oct. 30, 2010, are projected to be in the range of 94 cents to 96 cents, driven mainly by much better-than-expected shortage results from its annual physical inventory of stores in September along with other favorable gross margin trends.
"Our updated third quarter guidance also reflects our continued expectation for October same store sales to be flat to up one percent," Balmuth added.
Other Articles By Author
Patti Carpenter Talks Color and its Importance in the Home
HFN's DIGITAL EDITION
COVER STORY: Sharpening the Focus on Millennials
Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.
ALSO IN THIS ISSUE:
- Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
- Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.