Ross Stores, Inc. (ROST: Quote) reported that sales for the four weeks ended May 26, 2012 increased 13% to $746 million from $661 million a year ago. Comparable store sales for the month grew 8% on top of a 4% increase last year.
For the 17 weeks ended May 26, 2012, sales totaled $3.1 billion, up 13% from $2.74 billion in the previous year. Comparable store sales grew 8% over a 4% gain in the prior year period.
Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, "Our strong sales results in May demonstrate that our ongoing focus on providing exciting assortments of name brand fashions for the family and the home continues to resonate with today's value-oriented consumers. While we hope to do better, for the balance of the quarter our forecast for same store sales to increase 3% to 4% in June and 2% to 3% in July remains unchanged."
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by RTT Staff Writer
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