Ross Stores Reports March Sales and Estimated First Quarter EPS

Apr 12, 2001, 01:00 ET from Ross Stores, Inc.

    NEWARK, Calif., April 12 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq:   ROST)
 today reported sales of $272 million for the five weeks ended April 7, 2001, a
 4% increase above the $261 million in sales for the five weeks ended
 April 8, 2000.  Comparable store sales for the month declined 3% from the
 prior year on a day-for-day basis.
     For the nine weeks ended April 7, 2001, sales totaled $453 million, a
 4% increase above the $437 million in sales for the nine weeks ended
 April 8, 2000.  Comparable store sales for the two months declined 3% from the
 prior year on a day-for-day basis.
     In commenting on business, Michael Balmuth, Vice Chairman and
 Chief Executive Officer, stated, "Same store sales in March performed at the
 low end of our forecast of flat to down 3%.  We believe that our business
 during the month was negatively impacted by unseasonably cool weather in many
 of our markets.  If same store sales in April perform in line with our
 forecast of flat to down 3% from the prior year, we believe that earnings per
 share will be in the range of $.43 to $.44 for the first quarter ending
 May 5, 2001, compared to $.47 in earnings per share for the first quarter
 ended April 29, 2000.  The current First Call(TM) earnings per share consensus
 for the 2001 first quarter is $.43."
     Additional recorded information concerning today's press release and the
 company's future outlook can be accessed by calling 402-220-5900,
 PIN #2363, from 8:30 a.m. eastern time on April 12, 2001 through 8:00 p.m.
 eastern time on April 13, 2001.  A transcript of these comments also will be
 made available on the press release page of the company's web site at
 www.rossstores.com.
     Forward-Looking Statements:  This press release contains certain
 forward-looking statements which are subject to risks and uncertainties that
 could cause the company's actual results to differ materially from
 management's current expectations.  The words "expect," "anticipate,"
 "estimate," "believe," "forecast," "projected" and similar expressions
 identify forward-looking statements.  The estimated range for earnings per
 share for the first quarter ending May 5, 2001 is preliminary and subject to
 certain risks and uncertainties.  Risk factors include obtaining acceptable
 new store locations, competitive pressures in the apparel industry, changes in
 the level of consumer spending on or preferences in apparel or home-related
 merchandise, unseasonable weather trends, and greater than planned operating
 costs.  Other risk factors are detailed in the company's Form 10-K for fiscal
 1999.  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 the company's outlook at any other point in time.  The
 company does not undertake to update or revise these forward-looking
 statements.
     Ross Stores, Inc. operates a national chain of off-price retail stores
 offering first quality, in-season, branded apparel and apparel-related
 merchandise for the entire family at prices that average 20% to 60% less than
 department and specialty stores, as well as merchandise for the home at
 similar savings.  The company had 417 stores in operation at
 April 7, 2001, compared to 385 stores at the end of the same period last year.
 
 

SOURCE Ross Stores, Inc.
    NEWARK, Calif., April 12 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq:   ROST)
 today reported sales of $272 million for the five weeks ended April 7, 2001, a
 4% increase above the $261 million in sales for the five weeks ended
 April 8, 2000.  Comparable store sales for the month declined 3% from the
 prior year on a day-for-day basis.
     For the nine weeks ended April 7, 2001, sales totaled $453 million, a
 4% increase above the $437 million in sales for the nine weeks ended
 April 8, 2000.  Comparable store sales for the two months declined 3% from the
 prior year on a day-for-day basis.
     In commenting on business, Michael Balmuth, Vice Chairman and
 Chief Executive Officer, stated, "Same store sales in March performed at the
 low end of our forecast of flat to down 3%.  We believe that our business
 during the month was negatively impacted by unseasonably cool weather in many
 of our markets.  If same store sales in April perform in line with our
 forecast of flat to down 3% from the prior year, we believe that earnings per
 share will be in the range of $.43 to $.44 for the first quarter ending
 May 5, 2001, compared to $.47 in earnings per share for the first quarter
 ended April 29, 2000.  The current First Call(TM) earnings per share consensus
 for the 2001 first quarter is $.43."
     Additional recorded information concerning today's press release and the
 company's future outlook can be accessed by calling 402-220-5900,
 PIN #2363, from 8:30 a.m. eastern time on April 12, 2001 through 8:00 p.m.
 eastern time on April 13, 2001.  A transcript of these comments also will be
 made available on the press release page of the company's web site at
 www.rossstores.com.
     Forward-Looking Statements:  This press release contains certain
 forward-looking statements which are subject to risks and uncertainties that
 could cause the company's actual results to differ materially from
 management's current expectations.  The words "expect," "anticipate,"
 "estimate," "believe," "forecast," "projected" and similar expressions
 identify forward-looking statements.  The estimated range for earnings per
 share for the first quarter ending May 5, 2001 is preliminary and subject to
 certain risks and uncertainties.  Risk factors include obtaining acceptable
 new store locations, competitive pressures in the apparel industry, changes in
 the level of consumer spending on or preferences in apparel or home-related
 merchandise, unseasonable weather trends, and greater than planned operating
 costs.  Other risk factors are detailed in the company's Form 10-K for fiscal
 1999.  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 the company's outlook at any other point in time.  The
 company does not undertake to update or revise these forward-looking
 statements.
     Ross Stores, Inc. operates a national chain of off-price retail stores
 offering first quality, in-season, branded apparel and apparel-related
 merchandise for the entire family at prices that average 20% to 60% less than
 department and specialty stores, as well as merchandise for the home at
 similar savings.  The company had 417 stores in operation at
 April 7, 2001, compared to 385 stores at the end of the same period last year.
 
 SOURCE  Ross Stores, Inc.

RELATED LINKS

http://www.rossstores.com