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Uploaded: Thursday, September 10, 2009, 7:38 AM
BUSINESS: Ross Stores reports August sales gains of 11%
Pleasanton firm says same-store sales climbed 6% over August 2008
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by Jeb Bing
Pleasanton Weekly Staff
Pleasanton-based Ross Stores, Inc. has reported that sales for the four weeks ended Aug. 29 increased 11 percent to $557 million from $504 million for the four weeks ended Aug. 30, 2008. Same store sales for the month rose 6 percent on top of a 3 percent gain last year.
For the seven months ended Aug. 29, 2009 sales totaled $4.018 billion, up 9 percent over the $3.700 billion in sales for the seven months ended Aug. 30, 2008. Comparable store sales for the seven months ended Aug. 29, 2009 increased 3 percent on top of a 4 percent gain in the prior year period.
"We are very pleased with our better-than-expected sales gains in August, which benefited from healthy back-to-school traffic during the month," said Michael Balmuth, vice chairman, president and chief executive officer. "Dresses and shoes remained the strongest merchandise categories, while the Southeast was the best-performing market."
"Looking ahead, we continue to forecast same store sales gains of 6 percent to 7 percent for September and 5 percent to 6 percent for October," he added.
A transcript of Balmuth's comments is available in the Investors section of the company's website at www.rossstores.com.
The company expects to report September 2009 sales results on Thursday, Oct. 8.
Ross Stores is headquartered in the CarrAmerica complex in Hacienda Business Park.Are you receiving Express, our free daily e-mail edition? See a sample and sign-up for Express.
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Posted by Phil, a resident of another community, on Sep 10, 2009 at 11:22 am Ross is doing very well in a tough economy. I expect it's stock ROST to eventually break above 47 and move up to 50 a share.
[Portion removed due to promoting a website]
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Posted by Optimist, a resident of the Another Pleasanton neighborhood neighborhood, on Sep 10, 2009 at 1:15 pm Economic news is getting better every day. Unemployment tends to lag other indicators, but it is on target to level off early next year and start to recover. This is more great news. I think we all want to see the US economy do well.
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Posted by Devonx, a resident of the Another Pleasanton neighborhood neighborhood, on Sep 14, 2009 at 2:18 am Well that is a good news. One of the positive news I ever heard since recession struck the whole world. The increase in sales is a sign that economy is getting better. (Rest of comments removed by Pleasanton Weekly Online staff as irrelevant to this thread.)
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Posted by Billie, a resident of the Mohr Park neighborhood, on Sep 14, 2009 at 7:41 am Is the economy really getting better in CA?
California's unemployment rate climbed to a new record of 11.9 percent in July. It didn't just "lag behind", or remain the same, it increased from 11.6 percent in June. A year ago it was 7.3 percent. Web Link
Ross did better than its competitors because it provided the deep discount in name brand clothing that consumers were not just looking for, but needed, for back-to-school shopping. Shoppers just can't afford the big department store prices. Web Link
So while I would love to believe the economy is in recovery, I'm not sure CA is anywhere near to becoming well again.
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