×
1 364
Fashion Jobs
360 TALENT LONDON
Showroom Manager – Central London
Permanent · LONDON
360 TALENT LONDON
Assistant Showroom Manager – Central London
Permanent · LONDON
ESTÉE LAUDER
Operations Support Manager
Permanent · Petersfield
ESTÉE LAUDER
jo Malone London - Omnichannel Operations Manager
Permanent · London
ESTÉE LAUDER
Multi-Brand - Business Manager, 37.5 Hours - Oxford - John Lewis
Permanent · Oxford
V. F. CORPORATION
Key Account Manager
Permanent · LONDON
ESTÉE LAUDER
Clinique - Consultant - Boots Bath - 28 Hours - Permanent
Permanent · Bath
CONVERSE
Strategic Account Executive
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Covent Garden, London - 20 Hours - Permanent
Permanent · London
SHISEIDO
National Account Manager
Permanent · London
TIMBERLAND
Credit Controller - French Speaking - Timberland
Permanent · CALVERTON
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 15 Hours - Permanent
Permanent · Belfast
ESTÉE LAUDER
Clinique - Consultant - Boots Sedley Place, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Stratford, London - 10 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Durham - 6 Hours - Permanent
Permanent · Durham
ESTÉE LAUDER
Clinique - Consultant - Boots Londonderry - 11 Hours - Permanent
Permanent · Londonderry
ESTÉE LAUDER
Clinique - Consultant - Boots Kensington, London - 22.5 Hours - Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots Donegall, Belfast - 10 Hours - Permanent
Permanent · Belfast
BRAND STABLE LTD
Wholesale Sales Executive
Permanent · LONDON
LAIDBACK LONDON
Digital Marketing Manager
Permanent · HARROW
MARSHALLS
70118-lp Detective
Permanent · Banning
ESTÉE LAUDER
Clinique - Consultant - Boots, Watford - 22.5 Hours - Part Time, Permanent
Permanent · Watford
Advertisements
By
Reuters
Published
Mar 18, 2011
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ross Stores sales up, says profits sustainable

By
Reuters
Published
Mar 18, 2011

March 17 - Ross Stores Inc reported a higher profit for the holiday quarter, helped by shoppers still looking for designer brands at affordable prices, and said its profitability level was sustainable.

Ross Stores
Ross "Dress for Less" clothing store in Tanasbourne Town Center, Oregon (photo by Steve Morgan)

Sales at Ross stores open at least a year rose 4 percent during the fourth quarter that ended Jan. 29 and included the Thanksgiving-to-Christmas period, while overall sales rose 8.4 percent to $2.15 billion.

Ross and larger rival TJX Cos Inc buy excess inventory returned to vendors and sell the brand-name goods at prices as much as 60 percent lower than department stores.

These "off-price" chains were among the biggest winners during the recession. Ross reported same-store sales gains of 10 percent for the year-earlier quarter.

In a statement, Chief Executive Officer Michael Balmuth said Ross's current level of operating profitability was "sustainable." He said the company was maintaining lower levels of inventory, which has boosted margins and allowed Ross to more quickly stock items shoppers want.

Ross and TJX, which operates the T.J. Maxx and Marshalls chains, have faced increased competition as shoppers trade back up. They are still forecasting sales gains, saying shoppers remain price-conscious, but at a more modest pace.

Earlier this month, Ross said same-store sales gains had continued in February and forecast they would rise again in the rest of the current quarter, though more quickly in April because of Easter's timing this year.

Ross's net income in the fourth quarter rose to $161.8 million, or $1.37 per share, from $142.8 million, or $1.16 per share, a year earlier. The results were in line with Wall Street estimates.

Ross's board voted to raie the quarterly dividend 38 percent to 22 cents per quarter.

The Pleasanton, California-based company operates 1,055 stores in the United States.

Ross shares were down 3 cents at $69.12 in morning Nasdaq trading.

(Reporting by Phil Wahba, editing by Gerald E. McCormick and Lisa Von Ahn)

© Thomson Reuters 2021 All rights reserved.