Ross Stores June comps beat guidance

PLEASANTON, Calif. Ross Stores today reported sales of $545 million for the five weeks ended July 7, an 11% increase over the $490 million in sales for the five weeks ended July 8, 2006. Same-store sales for the five weeks ended July 7 grew 4% compared to the five weeks ended July 8, 2006. Comparable-store sales rose 5% for the five weeks ended July 1, 2006.

For the five months ended July 7, sales were $2.4 billion, a 9% increase over the $2.2 billion in sales for the five months ended July 8, 2006. Same-store sales for the five months ended July 7 grew 1% over the five months ended July 8, 2006. Comparable-store sales rose 6% for the five months ended July 1, 2006.

Michael Balmuth, vice chairman, president and ceo, commented, "Comparable-store sales in June were ahead of our expectations, benefiting from solid sell-through of seasonal merchandise. The Northwest, Southeast and Mid-Atlantic were the best performing regions, while dresses and home continued to be the strongest merchandise categories. Looking ahead, we continue to project comparable-store sales gains of 3% to 4% in July 2007. Based on current sales and margin trends, earnings per share for the 13 weeks ending August 4 are now forecast to be 36 cents to 37 cents, up 13% to 16% over second quarter 2006 earnings per share of 32 cents."