Ross Stores, Inc. reported sales of $243 million for the four weeks ended March 1, 2003, a 7% increase above the $227 million for the four weeks ended March 2, 2002. Comparable store sales for the four week period fell 3% compared to a 13% increase in same store sales in the prior year period.
In commenting, Michael Balmuth, Vice Chairman and Chief Executive Officer said, “Same store sales in February were slightly below the low end of our expectations. A large percentage of our store base was negatively impacted by severe winter weather during the month, including the mid-Atlantic, Georgia, North Carolina, Texas, Oklahoma and the mountain states. In addition, several stores in many of these regions were closed for a period of time due to weather. As a result, early spring apparel sales underperformed our expectations.”
