Join        Login             Stock Quote

Ross Stores (ROST) Dec Comps Up 6 Pct, Lifts Q4 Profit View

 January 03, 2013 09:50 AM

(By Balaseshan) Ross Stores Inc. (NASDAQ: ROST), which operates two brands of off-price retail apparel and home fashion stores, said its comparable store sales for the month of December grew 6% on top of last year's 9% gain.

Sales increased 11% to $1.276 billion for the five weeks ended December 29, 2012, from $1.149 billion for the five weeks ended December 31, 2011.

For the eleven months ended December 29, 2012, comparable store sales increased 7% on top of a 5% gain in 2011. Sales grew 11% to $9.049 billion from $8.125 billion in the previous year period.

"We are pleased with December same store sales that were ahead of our expectations for a 2% to 3% increase. These gains were on top of our most challenging sales comparison of the year and demonstrate the ongoing resilience of our off-price model as we continue to attract value-conscious shoppers with our wide assortments of compelling name brand bargains," said Michael Balmuth, Vice Chairman and Chief Executive Officer.

[Related -Ross Stores, Inc. (ROST): A Look At Multiple Long-Term Growth Catalysts]

Looking ahead into the fourth quarter, the company increased its earnings guidance to range of $1.05 to $1.06 per share from previous forecast of $0.99 to $1.04 per share, while Street a analysts predict $1.04 per share.

Balmuth said the company raised forecast based on better-than-expected sales and margin trends quarter-to-date and its continued assumption for a 1% to 2% increase in January same store sales.

ROST is trading up 7.37% at $58.45 on Thursday. The stock has been trading between $47.05 and $70.82 for the past 52 weeks.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageInitial Jobless Claims Rose Unexpectedly

Claims unexpectedly rose in the latest report through last weekend to breach 300,000 for the first time read on...

article imageAll Quiet on the Record High Front

What can we glean from the media’s lack of attention to the market’s recent record read on...

article imageThe Chip Maker Short Sellers Should Be Watching

Investing in semiconductor stocks is always tricky. Industry cycles can lead to bumps in the road for the read on...

article imageChicago Fed: US Economic Growth Slowed In October

The pace of US growth slowed more than expected in October, according to this morning’s update of the read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.