Ross Stores, Inc. reported sales of $568 million for the four weeks ended Nov. 29, a 4% increase over the $547 million in sales for the four weeks ended Dec. 1, 2007. Same store sales for the four weeks ended Nov. 29, 2008 declined 2% from the four weeks ended Dec. 1, 2007.
Michael Balmuth, vice chairman, president and chief executive officer, commented, “We are pleased with our November results which continued to reflect the resilience of our off-price business model. Despite the tough economic and retail environment, same store sales for the month were slightly better than expected, with merchandise gross margin in line with plan. Dresses remained the best performing merchandise category for both the month and year-to-date periods, while geographic trends were generally broad-based. Looking ahead, we continue to forecast same store sales to be relatively flat for December and down 2% to 4% for January.”
