Distressed Goods Fuel Ross Success

Off-price operator Ross Stores scored healthy fourth-quarter gains and a very strong 2008 overall, on the strength of abundant goods and bargain-driven consumers — as well as strong internal controls.

"The huge amount of close-out opportunities in the marketplace" afforded many buying opportunities, said Michael Balmuth, vice chairman, president and ceo of the 957-unit retailer. "This enabled us to deliver fresh and exciting assortments of sharply priced name brand bargains to our customers. More importantly, we accomplished this while also operating the business with leaner in-store inventories, which drove faster turns and reduced markdowns, resulting in higher merchandise gross margin."

Ross reported record Q4 earnings of $97.4 million, or 76 cents per share — up 9% from 70 cents EPS in the same period one year ago.

For the year ended Jan. 31, Ross Stores earnings zoomed up 23% to $2.33 EPS, or up 17% to $305.4 million.

Fiscal 2008 sales of $6.5 billion were up 9% on a comp gain of 2%.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • 1200 Suppliers are Ready for You at Intertextile Shanghai

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT August 2017

See the August 2017 issue of Home & Textiles Today. In this issue, we look at the Top 50 Retailing Giants Report, plus Manufacturing: Made in the USA gaining ground; International: Portugal ramping up exports; New products: NY Now home textiles introductions; Outlook: Commentary from H&TT's editors; and Planning: Trade show calendar.

See details!