Ross Stores, Inc. reported sales of $367 million for the five weeks ended July 5, 2003, an 8% increase above the $340 million in sales for the five weeks ended July 6, 2002. Comparable store sales for the month of June declined 2% versus a 12% gain in the prior year period.
For the five months through July 5, 2003, sales were $1.542 billion, an 8% increase above the $1.428 billion in sales for the prior year’s comparable period ended July 6, 2002. Comparable store sales for the five months declined 2% versus an 11% increase in the same year-to-date period in 2002.
In commenting, Vice Chairman and Chief Executive Officer Michael Balmuth said, “Same store sales in June were at the low end of expectations against very strong gains in the prior year. Looking ahead, we continue to forecast that same store sales will increase 1% to 3% in July, on top of a 4% gain in 2002, our easiest comparison to date this year. As a result, we are maintaining our prior forecast for second quarter earnings per share in the range of $.66 to $.70, or an increase of about 6% to 13% over the $.62 in earnings per share in the prior year period.”
