Ross Stores, Inc. today reported that sales increased 9% to $725 million for the five weeks ended July 3, 2010, up from $666 million for the five weeks ended July 4, 2009. Comparable store sales for the month grew 5%.
For the five months ended July 3, 2010, sales totaled $3.274 billion, a 12% increase over the $2.922 billion in sales for the five months ended July 4, 2009. Comparable store sales for the five months ended July 3, 2010 increased 8% on top of a 3% gain last year.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, “June comparable store sales slightly exceeded our expectations for a 3% to 4% increase. Home, Dresses and Shoes were our strongest merchandise categories, while Florida and the Mid-Atlantic were the best-performing regions.”
Looking ahead, Mr. Balmuth said, “Given our quarter-to-date sales and gross margin performance, as well as our continued expectation for a 3% to 4% increase in July comparable store sales, we now are forecasting earnings per share for the 13 weeks ending July 31, 2010 to be $1.00 to $1.02, up from our prior range of $.95 to $.99. This updated guidance represents a projected 22% to 24% increase on top of a 52% gain in last year's second quarter when earnings per share were $.82.”
