This excerpt taken from the ROST 8-K filed Feb 5, 2009.
Fiscal 2009 Guidance
Looking ahead, Mr. Balmuth said, Considering todays very difficult macro-economic and retail climate, we remain cautious in our outlook as we enter 2009. Our experience over the past year reflects the benefit of setting prudent targets when planning the business with the hope that we can do better.
For the fiscal year ending January 30, 2010, the Company is forecasting same store sales to decline 1% to 3% compared to a 2% gain in the prior year, and projecting earnings per share in the range of $2.25 to $2.45. For the 13 weeks ending May 2, 2009, comparable store sales also are forecast to decline 1% to 3% compared to a 3% gain in the prior year quarter. Earnings per share for the first quarter of 2009 are projected to be in the range of $.56 to $.61, compared to $.60 in the prior year period.
Additional recorded information concerning todays press release and the Companys outlook can be accessed by calling 706-645-9291, ID # 82461520, from 8:30 a.m. Eastern time on February 5, 2009 through 8:00 p.m. Eastern time on February 6, 2009. A transcript of these comments is available on the Companys website at www.rossstores.com. The Company expects to report February 2009 sales results on Thursday, March 5th and final fourth quarter earnings results on Thursday, March 19th.
Forward-Looking Statements: This press release and the recorded comments on our website contain forward-looking statements regarding expected sales and earnings levels in future periods that are subject to risks and uncertainties which could cause our actual results to differ materially from managements current expectations. The estimated earnings per share for the fourth quarter and fiscal year ended January 31, 2009 are preliminary and subject to adjustments. The words plan, expect, target, anticipate, estimate, believe, forecast, projected, guidance, looking ahead and similar expressions identify forward-looking statements. Risk factors for Ross Dress for Less® (Ross) and dds DISCOUNTS® include, without limitation, competitive pressures in the apparel industry; changes in the level of consumer spending on or preferences for apparel or home-related merchandise, including the potential impact from uncertainty in financial and credit markets and the severity and duration of the current recession; changes in geopolitical and general economic conditions; unseasonable weather trends; disruptions in supply chain; lower than planned gross margin, including higher than planned markdowns and higher than expected inventory shortage; greater than planned operating costs; our ability to continue to purchase attractive brand-name merchandise at desirable discounts; our ability to attract and retain personnel with the retail talent necessary to execute our strategies; our ability to effectively operate our various supply chain, core merchandising and other information systems; our ability to improve our merchandising capabilities through the development and implementation of new processes and systems enhancements; achieving and maintaining targeted levels of productivity and efficiency in our distribution centers; and obtaining acceptable new store locations. Other risk factors are detailed in our SEC filings including, without limitation, the Form 10-K for fiscal 2007 and Form 10-Qs and 8-Ks for fiscal 2008. The factors underlying our forecasts are dynamic and subject to change. As a result, our forecasts speak only as of the date they are given and do not necessarily reflect our outlook at any other point in time. We do not undertake to update or revise these forward-looking statements.
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Ross Stores, Inc., a Fortune 500 and Nasdaq 100 (ROST) company headquartered in Pleasanton, California, is the nations second largest off-price retailer with fiscal 2008 revenues of $6.5 billion. As of January 31, 2009, the Company operated 904 Ross Dress for Less® (Ross) stores and 52 dds DISCOUNTS® locations, compared to 838 Ross and 52 dds DISCOUNTS locations at the end of the same period last year. Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20 to 60 percent off department and specialty store regular prices. dds DISCOUNTS features a more moderately-priced assortment of first-quality, in-season, name brand apparel, accessories, footwear and home fashions for the entire family at everyday savings of 20 to 70 percent off moderate department and discount store regular prices. Additional information is available at www.rossstores.com.
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