Ross Stores, Inc.reported sales of $357 million for the four weeks ended April 30, 2005, an 11% increase above the $322 million in sales for the four weeks ended May 1, 2004. Comparable store sales for the month increased 1% over the prior year.
For the 13 weeks ended April 30, 2005, sales totaled $1.124 billion, a 13% increase above the $992 million in sales for the 13 weeks ended May 1, 2004. Comparable store sales for the 13 weeks ended April 30, 2005 increased 3%.
In commenting, Michael Balmuth, Vice Chairman, President and Chief Executive Officer, stated, “Sales for the first quarter of 2005 were in line with forecast. As expected, operating margin during the period came under pressure mainly due to a combination of higher markdowns and higher distribution center costs as a percent of sales. As a result, earnings per share for the 13 weeks ended April 30, 2005 are estimated to be about $.33 to $.34. This compares to earnings per share of $.31, as restated, for the 13 weeks ended May 1, 2004.”
Looking ahead, Mr. Balmuth continued, “For the 13 weeks ending July 30, 2005, we project that same store sales will increase 6% to 7%, compared to a 3% decline in the prior year period, and forecast earnings per share to be in the range of $.30 to $.32, compared to earnings per share of $.21, as restated, for the second quarter ended July 31, 2004. Our prior year second quarter results are inclusive of a $.07 write-down related to our former corporate office and distribution center in Newark, California.”
