Ross Stores Vice Chairman pleased with November results

Fashion

Ross Stores Vice Chairman pleased with November results

Ross Stores Inc reported sales of $568 million for the four weeks ended November 29, 2008, a 4% increase over the $547 million in sales for the four weeks ended December 1, 2007. Same store sales for the four weeks ended November 29, 2008 declined 2% from the four weeks ended December 1, 2007. For the ten months ended November 29, 2008, sales were $5.320 billion, a 9% increase over the $4.870 billion in sales for the ten months ended December 1, 2007. Comparable store sales for the ten months ended November 29, 2008 rose 2% over the ten months ended December 1, 2007. Michael Balmuth, Vice Chairman, President and Chief Executive Officer, commented, "We are pleased with our November results which continued to reflect the resilience of our off-price business model. Despite the tough economic and retail environment, same store sales for the month were slightly better than expected, with merchandise gross margin in line with plan. Dresses remained the best performing merchandise category for both the month and year-to-date periods, while geographic trends were generally broad-based. Looking ahead, we continue to forecast same store sales to be relatively flat for December and down 2% to 4% for January."

Ross Stores

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