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Ross Stores Q2 earnings beat estimates
Pleasanton, Calif. -- Ross Stores Inc. reported a profit of $213 million for the second quarter, compared with $182 million last year and beating Wall Street’s expectations.
Revenue rose 9% to $2.5 billion, matching forecasts. Same-store sales edged up 4%, compared to a 7% rise in the same period last year. However, the retailer expressed caution about the months ahead.
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Phase one of center court redevelopment completed in July; More to come
Honolulu — With 42 million visitors per year, the two million-sq.-ft. Ala Moana Center in Honolulu boasts sales per square foot of $1,300. At the beginning of the year, owner General Growth Properties began a massive $572 million redevelopment of Ala Moana — the world’s largest open-air shopping mall. The goal is to add 650,000 sq. ft. of new retail space.
