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Published
Nov 17, 2011
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Ross Stores affirms holiday outlook, splits stock

By
Reuters
Published
Nov 17, 2011

Ross Stores Inc (ROST.O) reported a higher quarterly profit as shoppers continued to seek out bargains, but the off-price store chain did not raise its holiday quarter sales and profit forecast, preferring to be "cautious" given the "possibility of an even more competitive-than-usual holiday season."

Ross, which like its larger rival TJX Cos Inc (TJX.N) sells designer clothing brands and home goods at lower prices than department stores, also announced a 2-for-1 stock split in the form of a stock dividend.

KEY POINTS

Q3 2011 Estimate* Q3 2010

Net sales $2.05 bln $2.03 bln $1.87 bln

Net income $144 mln --- $121.4 mln

EPS $1.26 $1.26 $1.02

* Still sees Q4 EPS $1.53-$1.59 vs Street view $1.59**

* Still sees Q4 same-store sales up 2-3 pct

* Q3 same-store sales up 5 pct * estimates from Thomson Reuters I/B/E/S ** excludes the impact of the stock split

(Reporting by Phil Wahba, editing by Dave Zimmerman)

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