Ross Stores, Inc. reported that sales increased 11 percent to $1.276 billion for the five weeks ended Dec. 29, 2012, up from $1.149 billion in sales for the five weeks ended Dec. 31, 2011. Comparable store sales for the month grew 6 percent on top of a 9 percent increase in the prior year.
For the eleven months ended Dec. 29, 2012, sales totaled $9.05 billion, an 11 percent increase over the $8.13 billion in sales for the eleven months ended Dec. 31, 2011. Comparable store sales for the eleven months ended Dec. 29, 2012 grew 7 percent on top of a 5 percent gain in 2011.
“We are pleased with December same store sales that were ahead of our expectations for a 2 percent to 3 percent increase,” stated Michael Balmuth, vice chairman and CEO. “These gains were on top of our most challenging sales comparison of the year and demonstrate the ongoing resilience of our off-price model as we continue to attract value-conscious shoppers with our wide assortments of compelling name brand bargains.”
“Based on better-than-expected sales and margin trends quarter-to-date and our continued assumption for a 1 percent to 2 percent increase in January same store sales, we now project earnings per share for the 14 weeks ending February 2, 2013 to be $1.05 to $1.06, compared to our previous guidance of $.99 to $1.04,” continued Balmuth while looking ahead.
