Ross Oct. comps fall 2%

PLEASANTON, Calif. Ross Stores reported sales of $490 million for the four weeks ended Nov. 1, a 4% increase over the $470 million in sales for the four weeks ended Nov. 3, 2007. Same-store sales for the month declined 2% from last year.

Michael Balmuth, vice chairman, president and ceo, commented, "October same-store sales were slightly lower than expected, as we believe our business was impacted by unseasonably warm weather in many of our markets and the ongoing pressure from the challenging macro-economic environment. The Mid-Atlantic, which benefited from cooler temperatures, remained our strongest region, while dresses and accessories were the best performing merchandise categories."

Balmuth continued, "We now estimate that earnings per share for the thirteen weeks ended November 1, 2008 will be in the range of 43 cents to 44 cents, up from 36 cents in the third quarter of 2007. The quarter is benefiting from favorable shortage results and other expense savings that are offsetting the impact to gross margin from somewhat lower-than-expected sales."