Ross Stores Profit Up

Pleasanton, Calif., Ross Stores Inc. reported Tuesday that net earnings for the fiscal 2007 third quarter ended Nov. 3, climbed to $48.7 million, from $43.9 million compared to last year. Sales for the 13-week period increased 8% to $1.468 billion, with same-store sales for the period increasing 1% on top of a 4% gain last year.

"Comparable store sales for the third quarter were within our forecasted range,” said Michael Balmuth, vice chairman, president and CEO. “The strongest regions during the period were the Northwest and Texas. Dresses, home and shoes were the best-performing merchandise categories.”

Looking ahead to the 13 weeks ending February 2, 2008, “we continue to project same-store sales growth of 1% to 3%, Balmuth reported.