January Comp Beat Wraps Up Solid Ross Sales Year
Monday February 11th, 2013 - 12:02PM
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
Ross Stores, Inc. has reported that, for the 53 weeks ended February 2, sales gained 13% to $9.72 billion versus $8.61 billion for the 52 weeks ended January 28, 2012. Comparable store sales rose 6% year over year, the company stated.
For the 14-week quarter ended February 2, sales rose 15% to $2.76 billion, from $2.4 billion for the year earlier period with comps up 5%. For the five-week fiscal month of January, ended on the same date, sales were $672 million, an increase of 39% over the four weeks ended January 28, 2012. Same store sales for the four weeks ended January 26, 2013 advanced 4%.
The Ross comp beat a published January 3.5% average analyst estimate compiled by Thomson Reuters.
Michael Balmuth, Ross vice chairman and CEO said, in commenting on results, "Sales for both January and the fourth quarter of fiscal 2012 were ahead of our expectations as we continue to drive solid revenue growth by offering terrific assortments of compelling name brand bargains that resonate with today's value-focused consumers."
Tags: Housewares Cookware & Bakeware Vacuum Cleaners/Electric Cleaning Health & Personal Care Home Décor Home Environment Small Electrics Organization & Cleaning Tabletop Gadgets & Kitchen Tools Retail Financials
After decades of following consumers to the suburbs, retailers are plotting to get ahead of a growing segment of the population’s return to the cities.