Ross Stores quarterly EPS increase

PLEASANTON, Calif. Ross Stores today reported earnings per share for the 13 weeks ended Feb. 2 of 70 cents, compared to 66 cents for the 14 weeks ended Feb. 3, 2007. Net earnings for the 13 weeks ended Feb. 2 totaled $94.5 million, compared to net earnings for the 14 weeks ended Feb. 3, 2007 of $93.1 million. Sales for the 13 weeks ended Feb. 2 increased 3% to $1.65 billion compared to $1.6 billion for the 14 weeks ended Feb. 3, 2007. Comparable-store sales for the 13 weeks ended Feb. 2 rose 2% over the 13 weeks ended Feb. 3, 2007.

For the 52 weeks ended Feb. 2 earnings per share were $1.90, compared to $1.70 for the 53 weeks ended Feb. 3, 2007. Net earnings for the 52 weeks ended February 2, 2008 totaled $261.1 million, compared to $241.6 million for the 53 weeks ended Feb. 3, 2007. Sales for the 2007 fiscal year increased 7% to $5.98 billion, with comparable-store sales up 1% on top of a 4% gain in the prior year.

Michael Balmuth, vice chairman, president and ceo, commented, "We realized solid earnings growth for both the fourth quarter and the full year. Our ability to deliver compelling bargains to customers allowed us to successfully navigate the challenging retail climate, reflecting the resiliency of our off-price business model. The strongest regions for both the fourth quarter and the year were the Northwest and Texas, while dresses, home and shoes were the best performing merchandise categories."