Ross Stores, Inc. reported that sales increased 11 percent to $725 million for the four weeks ended April 28, 2012, up from $651 million for the four weeks ended April 30, 2011. Comparable store sales for the month grew 7 percent on top of a very strong 10 percent increase last year.
For the quarter ended April 28, 2012, sales totaled $2.357 billion, a 14 percent increase over the $2.075 billion in sales for the quarter ended April 30, 2011. Comparable store sales for the 13 weeks ended April 28, 2012 grew 9 percent over the prior year period.
Michael Balmuth, vice chairman and chief executive officer, commented, “We are pleased with our April and first quarter sales which were well ahead of expectations. Our continued ability to deliver a wide array of name brand bargains to today's value-focused consumers drove broad-based merchandise and geographic gains in both periods.”
Balmuth continued, “Based on our above-plan sales as well as favorable margin trends for the first quarter, we now estimate earnings per share for the 13 weeks ended April 28, 2012 to be $.92 to $.93, up from our prior guidance of $.89 to $.91. This updated range represents a projected 24 percent to 26 percent increase on top of a 28 percent gain in last year's first quarter. We will provide detailed sales and earnings guidance for the second quarter with our first quarter earnings release and conference call on Thursday, May 17th.”