Ross Sept. comps fall flat

PLEASANTON, Calif. Ross Stores Thursday reported sales of $537 million for its September period, a 5% increase over the $510 million in sales for the same period last year. Same-store sales for the period were flat compared to last year. Comparable-store sales rose 6% for the five weeks ended September 30, 2006.

For the eight months ended Oct. 6, the company reported sales were $3.853 billion, a 9% increase over the $3.547 billion in sales for the eight months ended Oct. 7, 2006. Comparable-store sales for the period rose 1% over the same period last year. Comparable-store sales rose 5% for the eight months ended Sept. 30, 2006.

Michael Balmuth, vice chairman, president and ceo, commented, "Same-store sales in September were slightly below our forecast mainly due, we believe, to unseasonably warm weather in many of our markets. Geographic trends were relatively broadbased. The strongest region during the month was the Northwest, while Dresses and Home remained the top performing businesses."

The company said that it continues to expect same-store sales gains of 1% to 3% for October on top of a 3% increase in 2006. The company added that it now expects earnings per share for the 13 weeks ending Nov. 3 to be in the range of 35 cents to 37 cents, from its prior estimate of 33 cents to 37 cents. This compares to earnings per share for the third quarter of 2006 of 31 cents.