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Business News: Ross Stores reports May sales gain of 14%

Same store sales climb 7% as customers seek 'compelling bargains'

Pleasanton-based Ross Stores, Inc. has reported that sales for the four weeks ended May 31 increased 14 percent to $513 million from $450 million for the four weeks ended June 2, 2007. Same store sales for the month increased 7 percent.

For the 17 weeks ended May 31, sales totaled $2.070 billion, an

11 percent increase over the $1.860 billion in sales for the 17 weeks ended last

June 2. Comparable store sales for the same 17 weeks increased 4 percent over the prior year period.

"We are pleased with our May sales results which exceeded our expectations," Michael Balmuth, vice chairman, president and chief executive officer, said. "We believe this solid performance was driven mainly by our ongoing ability to deliver compelling bargains to customers throughout our stores."

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"Business also benefited from favorable weather in many of our key markets," he added. "Dresses, shoes and accessories were the strongest merchandise categories, while Texas was the best-performing region."

Additional recorded information concerning Ross' earnings report and its statement about the future prospects can be accessed on the company's Web site http://www.rossstores.com.

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- Jeb Bing, PR Newswire

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Business News: Ross Stores reports May sales gain of 14%

Same store sales climb 7% as customers seek 'compelling bargains'

Uploaded: Fri, Jun 6, 2008, 10:25 am

Pleasanton-based Ross Stores, Inc. has reported that sales for the four weeks ended May 31 increased 14 percent to $513 million from $450 million for the four weeks ended June 2, 2007. Same store sales for the month increased 7 percent.

For the 17 weeks ended May 31, sales totaled $2.070 billion, an

11 percent increase over the $1.860 billion in sales for the 17 weeks ended last

June 2. Comparable store sales for the same 17 weeks increased 4 percent over the prior year period.

"We are pleased with our May sales results which exceeded our expectations," Michael Balmuth, vice chairman, president and chief executive officer, said. "We believe this solid performance was driven mainly by our ongoing ability to deliver compelling bargains to customers throughout our stores."

"Business also benefited from favorable weather in many of our key markets," he added. "Dresses, shoes and accessories were the strongest merchandise categories, while Texas was the best-performing region."

Additional recorded information concerning Ross' earnings report and its statement about the future prospects can be accessed on the company's Web site http://www.rossstores.com.

- Jeb Bing, PR Newswire

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