For the five weeks ended April 4, 2009, sales at Ross Stores open for at least 12 months grew 3% year-on-year. Sales for all stores grew 8% during the same period, to $682 million, compared to the $633 million from the same period during the previious year. ROST continues to take advantage of its market niche as an off-price bargain retailer during the weak retail environment, appealing to more value-conscious consumers and those that have cut discretionary budgets due to recessionary pressures.
In Q3 2008 (ended Nov. 1, 2008), ROST reported earnings that rose by 17.6% to $57.3 million when compared to the prior-year quarter. Same-store sales were up 3%, and sales were up by 6% to $1.55 billion. ROST benefits as a discount retailer during the current recession due to consumer trade downs.
ROST reports flat same-store sales for September, attributing poor numbers to unseasonably warm weather. Stock of apparel retailers is also negatively impacted by existing home and condo sales, which fell 8% to an 8-year low.
Q2 sales were up 10% over the same period in 2006; earnings increased even more at 16%. However, the company lowered sales expectations for the the critical second half of 2007, when retailers traditionally make most of their revenue from seasonal sales. The company cited macroeconomic pressures (e.g., rising energy prices) that affect its lower-income customer demographic.
