Ross Stores, Inc. reported that sales increased 3 percent to $726 million for the four weeks ended March 2, up from $707 million in the year ago month. Comparable store sales declined 1 percent versus the same period last year. This compared to a strong 9 percent gain for the four weeks ended Feb. 25, 2012.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, “We believe the slight decline in February same store sales was mainly due to the delay in income tax refunds. With sales improving as the month progressed, we continue to forecast same store sales in March and April to be down 1 percent to 2 percent and up 5 percent to 6 percent, respectively. This monthly guidance reflects the shift in the Easter holiday and is on top of last year’s robust same store sales gains of 10 percent in March and 7 percent in April.”
