Off-price retail chain Ross Stores, Inc. (ROST) posted a 2% increase in March comparable-store sales, compared with a 10% growth last year, with sales rising 6% to $1.04 billion, from $980 million a year before.
The company's Vice Chairman and Chief Executive, commented, "March same store sales outperformed our guidance for a 1% to 2% decline and were on top of exceptionally strong prior year comparisons. As a reminder, these results were impacted by the holiday calendar shift, with Easter Sunday store closures occurring in March this year versus April last year."
Looking ahead, Ross Stores said it still expects a 5% - 6% growth in April comparable-store sales. Based on its quarter-to-date results, and its April outlook, the company now sees earnings per share to be slightly above the high-end of its prior range of $1.00 - $1.04 for the 13 weeks ended May 4, 2013.
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