Distressed Goods Fuel Ross Success
March 23, 2009,
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.
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%.