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Ross Stores, Inc.

  • Costco shines in November, Target disappoints

    New York City -- The discount and wholesale club sector was hit and miss in November, as Costco shone with a 9% rise in same-store sales for the month, but Target missed Wall Street expectations with a weak gain.

  • Ross Stores Q3 up 18.6%

    Pleasanton, Calif. -- Ross Stores Inc. reported Thursday its third straight quarter of profits, as net income rose 18.6% to $144 million, from $121.4 million a year earlier. Results met Wall Street expectations.

    “Operating our business on lower in-store inventories is driving faster turns and lower markdowns, which continues to benefit profit margins,” noted Michael Balmuth, CEO.

    Revenue rose 9.2% to $2.05 billion, beating analysts’ predicted $2.03 billion in revenue.

  • Stage Stores to launch new off-price concept, open up to 35 stores in 2012

    Houston -- Stage Stores said Wednesday it will launch a new off-price concept, called Steele’s, to be rolled out in small-town America.

    The first three stores are slated to open on Nov. 1, in Beeville, Texas; Bastrop, La.; and Minden, La.; the company said it plans to open an additional 25 to 35 new Steele’s stores in 2012.

  • Discounters show positive movement in January

    New York City -- Costco Wholesale Corp. reported a January same-store sales increase of 9%, topping Wall Street expectations and leading the performances of the discount retail category.

    Analysts polled by Thomson Reuters expected a smaller same-store sales increase of 6.1%.

    Target Corp. didn’t show the same strength, missing expectations because of strong winter storms during the month. Same-store sales edged up 1.7% for the month, missing the 1.9% increase predicted by Wall Street.

  • Discounters and warehouse clubs beat expectations in November

    New York City -- The nation’s discount retailers and warehouse club operators posted strong sales in November, beating analysts’ expectations. The results were fueled by promotions and cold weather in some parts of the country, as well as strong Black Friday traffic.

    Target Corp. said Thursday more shoppers came to its stores in November and spent more than a year earlier, helping to fuel a 5.5% rise in same-store sales during the month. Analysts polled by Thomson Reuters, on average, expected a 3.7% gain.

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