Ross Remains In Markets

PLEASANTON, CA-The 55 units that Ross Stores is opening this year will be locations within its current markets, said executives yesterday during their fourth-quarter conference call. In doing so, the retailer can better focus on its goal of specializing its inventory, focusing on the preferences of consumers it serves in Western and Southern states.

Overall, Ross had a strong quarter posting a year-over-year same-store-sales jump of 6%, on revenues $1.4 billion, which were up 16%. Net earnings for the period ended Jan. 28 were up 37%, to $71 million.

For the current quarter, executives are predicting a 3% to 4% same-store sales increase. February came in at 6%, but they are forecasting a 1.2% increase in March, since Easter falls in April this year compared to last year when it fell in March. Earnings per share are seen coming in at 37 cents to 39 cents, compared to 31 cents the same period last year.