Higher sales at Ross Stores

12/10/2007

American footwear, apparel and accessories retailer Ross Stores, Inc. reported a 5% increase in sales for the five weeks ended October 6, up from $510 million for the five weeks ended October 7, 2006, to $537 million in the 2007 period.

For the eight months ended October 6, sales were $3.9 billion, a 9% increase compared with $3.5 billion for the prior-year period.

Vice chairman, president and chief executive officer, Michael Balmuth, said that warmer than expected weather had driven down sales. However, he said: “We continue to forecast same store sales gains of 1% to 3% for October on top of a 3% increase in 2006.”