Ross Stores Reports March Sales, Updates First Quarter EPS Guidance

PLEASANTON, Calif., April 11, 2013 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq: ROST) today reported that sales increased 6% to $1.036 billion for the five weeks ended April 6, 2013, up from $980 million for the five weeks ended April 7, 2012. Comparable store sales for the five weeks ended April 6, 2013 rose 2% compared to a 10% increase for the five weeks ended March 31, 2012.

For the nine weeks ended April 6, 2013, sales grew 4% to $1.762 billion, up from $1.687 billion for the nine weeks ended April 7, 2012. Comparable store sales for the nine weeks ended April 6, 2013 increased 1% versus a 10% gain for the nine weeks ended March 31, 2012.

Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "March same store sales outperformed our guidance for a 1% to 2% decline and were on top of exceptionally strong prior year comparisons. As a reminder, these results were impacted by the holiday calendar shift, with Easter Sunday store closures occurring in March this year versus April last year." 

Mr. Balmuth continued, "Looking ahead, we continue to forecast a 5% to 6% increase in April comparable store sales.  Based on our quarter-to-date results, and our outlook for April, we now project earnings per share to be slightly above the high-end of our previous range of $1.00 to $1.04 for the 13 weeks ended May 4, 2013. This updated forecast compares to $.93 for the 13 weeks ended April 28, 2012."

Additional recorded information concerning today's press release and the Company's future outlook can be accessed by calling 203-369-3267, ID# 410130, from 8:30 a.m. Eastern time on April 11, 2013 through 8:00 p.m. Eastern time on April 12, 2013.   A transcript of these comments is available in the Investors section of the Company's website at www.rossstores.comApril 2013 sales results will be issued on Thursday, May 9, 2013.

Forward-Looking Statements:  This press release and the recorded comments on our corporate website contain forward-looking statements regarding expected sales, earnings levels and other financial results in future periods that are subject to risks and uncertainties which could cause our actual results to differ materially from management's current expectations. The words "plan," "expect," "target," "anticipate," "estimate," "believe," "forecast," "projected," "guidance," "looking ahead" and similar expressions identify forward-looking statements. Risk factors for Ross Dress for Less® ("Ross") and dd's DISCOUNTS® include without limitation, competitive pressures in the apparel or home-related merchandise retailing industry; changes in the level of consumer spending on or preferences for apparel or home-related merchandise; impacts from the macro-economic environment and financial and credit markets that affect consumer disposable income and consumer confidence, including but not limited to interest rates, recession, inflation, deflation, energy costs, tax rates and policy, unemployment trends, and fluctuating commodity costs; changes in geopolitical and geo-economic conditions; unseasonable weather trends; potential disruptions in supply chain or information systems; lower than planned gross margin, including higher than planned markdowns and higher than expected inventory shortage; greater than planned operating costs; our ability to continue to purchase attractive brand name merchandise at desirable discounts; attracting and retaining personnel with the retail talent necessary to execute our strategies; effectively operating and continually upgrading our various supply chain, core merchandising and other information systems; improving our merchandising and transaction processing capabilities through the implementation of new processes and systems enhancements; managing our planned data center and headquarters moves without disruption or unanticipated costs; obtaining acceptable new store locations and improving new store sales and profitability, especially in newer regions and markets; adding capacity to our existing distribution centers and building out planned additional distribution centers timely and cost effectively; and achieving and maintaining targeted levels of productivity and efficiency in our existing and new distribution centers. Other risk factors are set forth in our SEC filings including without limitation, the Form 10-K for fiscal 2012 and Form 8-Ks for fiscal 2013.  The factors underlying our forecasts are dynamic and subject to change.  As a result, our forecasts speak only as of the date they are given and do not necessarily reflect our outlook at any other point in time.  We do not undertake to update or revise these forward-looking statements.

Ross Stores, Inc. is an S&P 500, Fortune 500 and Nasdaq 100 (ROST) company headquartered in Pleasanton, California, with fiscal 2012 revenues of $9.7 billion.  The Company operates Ross Dress for Less® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,112 locations in 33 states, the District of Columbia and Guam. Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20% to 60% off department and specialty store regular prices. The Company also operates 115 dd's DISCOUNTS® in nine states that feature a more moderately-priced assortment of first-quality, in-season, name brand apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20% to 70% off moderate department and discount store regular prices. Additional information is available at www.rossstores.com.

Contact: 

Michael Hartshorn 

Connie Wong


Senior Vice President,

Director, Investor Relations


Deputy Chief Financial Officer

(925) 965-4668


(925) 965-4503

connie.wong@ros.com

SOURCE Ross Stores, Inc.



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