Ross finds home a healthy place

PLEASANTON , Calif. — Ross Stores continues to experience a healthy home business, with the leading product categories “in the recent past” being domestics and housewares, company executives said during its first quarter conference call today.

Michael Balmuth, vice chairman, president and CEO, said that in Ross’ home business, “trends have been pretty good. Our strategy in home is not going to dramatically change. We’re very pleased with the progress we are making there.”

Helped by rising sales, first quarter profits increased 4 percent, to $50.1 million from $48.1 million last year. Earnings per share climbed more than twice as fast, rising 9.7 percent, to 34 cents from 31 cents last year, as the company's aggressive share repurchase program reduced the number of shares outstanding. Sales rose 13.3 percent, to $1.1 billion from $991.9 billion during the same period the year before. Same-store sales rose 3 percent.

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.

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HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!