Ross Stores, Inc. sales grew 19% to $289 million for the four weeks ended January 28, 2006, from $242 million in sales for the four weeks ended January 29, 2005. Same store sales for the month increased 9% over the prior year.
For the 13 weeks ended January 28, 2006, sales increased 16% to $1.411 billion, from $1.212 billion in sales for the 13 weeks ended January 29, 2005. Comparable store sales for the fourth quarter of 2005 increased 6% over the prior year.
For the 52 weeks ended January 28, 2006, sales grew 17% to $4.944 billion, from $4.240 billion in sales for the 52 weeks ended January 29, 2005. Same store sales for fiscal 2005 increased 6% over the prior year.
Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, “Our January sales results were well ahead of our expectation for a 3% to 4% increase in comparable store sales. Merchandise trends during the month were broadbased, with particular strength in our Juniors and Shoes departments, while the Southwest and the mid-Atlantic were the top performing regions. As a result, we now estimate that earnings per share for the 13 and 52 week periods ended January 28, 2006 will be about $.48 to $.49 and $1.35 to $1.36, respectively.” The Company will report final results for the 13 and 52 weeks ended January 28, 2006 on Wednesday, March 15, 2006.
Forecasted First Quarter and Fiscal 2006 Earnings per Share
Looking ahead, Mr. Balmuth commented, “For the 13 weeks ending April 29, 2006, we currently project that same store sales will grow 4% to 5% over the prior year and that earnings per share will be in the range of $.37 to $.39, inclusive of projected non-cash charges for stock option expense equivalent to about $.01 to $.02 per share for the period. Like most other public companies, we will begin taking a charge for the value of stock options in the first quarter of 2006. Excluding the new stock option expenses, the projected earnings per share for the same period would be in the range of $.38 to $.40, which compares to $.34 for the 13 weeks ended April 30, 2005.”
Mr. Balmuth continued, “For the 52 weeks ending January 27, 2007, we continue to forecast same store sales gains of 3% to 4%, on top of a 6% increase in fiscal 2005. For the full 2006 fiscal year (the 53 weeks ending February 3, 2007), we project that earnings per share will be in the range of $1.53 to $1.64, inclusive of projected non-cash charges for stock option expense equivalent to about $.06 to $.07 per share for the period. Excluding stock option expense, we continue to project that earnings per share for our 53-week fiscal year in 2006 would be in the range of $1.60 to $1.70.”
