Ross Stores, Inc. reported that sales increased 15 percent to $955 million for the five weeks ended March 31, up from $828 million for the five weeks ended April 2, 2011. Comparable store sales for the month grew 10 percent over last year.
For the nine weeks ended March 31, 2012, sales totaled $1.63 billion, a 15 percent increase over the $1.423 billion in sales for the nine weeks ended April 2, 2011. Comparable store sales for the nine weeks ended March 31, 2012 also grew 10 percent over the prior year period.
“We are very pleased with our much stronger than expected sales in March,” said Michael Balmuth, vice chairman and CEO. “Favorable weather throughout most of our markets, along with our ongoing focus on value, drove broad-based merchandise and geographic sales gains during the month.”
Balmuth continued, “This year Easter falls two weeks earlier than in 2011, and it is always difficult to predict the impact on sales of such holiday shifts. While we hope to do better, we continue to forecast a 1 percent to 2 percent increase in April same store sales. That said, based on our better-than-expected performance in February and March, we are raising our earnings per share guidance for the first quarter ending April 28 to 89 to 91 cents, up from our prior forecast of 82 to 86 cents. This new range represents a projected 20 percent to 23 percent increase over earnings per share of 74 cents the prior year period.”
