Ross Stores reports 12% Dec. sales jump

PLEASANTON, Calif. Ross Stores performed well during the month of December, considering the difficult selling environment affecting most apparel retailers during the month.

The company reported sales of $755 million for the five weeks ended Jan. 5, a 12% increase over the $677 million in sales for the five weeks ended Jan. 6, 2007. Same-store sales for the five weeks ended Jan. 5 increased 3% over the five weeks ended Jan. 6.

Michael Balmuth, vice chairman, president and ceo, commented, "We are pleased with our solid performance during the important holiday period. Despite the competitive climate, customers responded favorably to the wide array of attractive and compelling bargains throughout our stores, driving better-than-expected sales and gross margin for the month. The strongest regions in December were the Northwest and Texas, while California same-store sales increased a solid 3%, in line with the total company. Outerwear, dresses and shoes were the top performing businesses."

The company said that it is updating its earnings per share outlook  for the 13 weeks ending Feb. 2 to be 68 cents to 69 cents, compared to its previous guidance of 62 cents to 68 cents.