(Filed Under Financial and General Interest News). Ross Stores, Inc. reported a 9 percent increase in sales for the third quarter ended Oct. 29, 2011.
Sales came to just over $2 billion, up from $1.9 billion in the third quarter of 2010. Same-store sales increased 5 percent, exceeding both analysts’ and the company’s expectations. According to the company, the boost came primarily from juniors’ apparel and shoes, while Florida remained Ross’ best-performing market.
"Our performance for both the month and the quarter benefited from our ability to deliver terrific name-brand bargains to today’s increasingly value-focused consumers," stated Michael Balmuth, Ross Stores’ vice chairman and C.E.O.
The company increased its full-year guidance to a range of $5.54 to $5.61 a share, up from its prior estimation of $5.29 to $5.39 a share. This would bring earnings per share up 20 to 21 percent over $4.63 a share in 2010.
Ross stores operates nearly 1,100 off-price stores in the United States and Guam.
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