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current news

Ross Stores Reports 2q 9% Sales Increase


(Filed Under Financial and General Interest News). Off-price retailer Ross Stores reported a 9 percent increase in sales to $2.1 billion for the second quarter ended July 30.

Net earnings grew to $148.3 million, up 15 percent from $129.3 million in the prior year’s period. Earnings per share came to $1.28, up from $1.07 in 2010.

"We are pleased with our better-than-expected performance," stated Ross vice chairman and C.E.O. Michael Balmuth. "Our ability to increase the percentage of fresh name brand bargains our customers see, while also strictly controlling inventories and expenses, has enabled us to capitalize on our favorable position as a value retailer."

According to Balmuth, Florida was Ross Stores’ best-performing market, and bestselling items included lingerie, accessories and women’s basics.

Ross operates 1,013 Ross Dress for Less stores across 27 states and Guam and 78 dd’s DISCOUNTS stores in Arizona, California, Florida, Georgia, Nevada and Texas.


more Financial and General Interest News >>

Published 09-21-2011 by Katherine Rautenberg

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