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Ross reports 19% rise in Q4 profit after strong holiday selling season
Pleasanton, Calif. -- Ross Stores Inc. reported Thursday that profit for the quarter ended Jan. 28 rose 19% to $192 million, from $161.8 million last year. A profitable holiday season helped boost the discounter’s results, which met Wall Street expectations.
Sales surged almost 12% to $2.4 billion, and same-store sales increased 7%.
For the full year, Ross reported a net income rise of 18% to $657.2 million. Sales increased 9% to $8.6 billion, with same-store sales up 5%.
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Saks earns customer service distinction
NEW YORK — Many companies can claim they have excellent customer services, but now Saks Inc. has the award to back that claim up. The company announced that it was recognized at the J.D. Power and Associates Customer Service Roundtable in Orlando, Fla. on March 14 as a 2012 Customer Service Champion—one of only 50 companies to have earned this distinction this year.