USA: Ross Stores Q1 Earnings Dip To $48.5m
By just-style.com | 19 May 2004
Off-price apparel retailer Ross Stores Inc has posted slightly lower net earnings of $48.5 million for the first quarter, down from $49.3m in the same period a year ago.
The California-based company, which operates 599 stores, also reported a 13 per cent jump in quarterly sales to $992m, up from $879m in the prior first quarter.
Comparable store sales, meanwhile, grew three per cent for the period.
According to CEO Michael Balmuth, the dip in earnings was partly related to a roof collapse at the company's South Carolina facility in January.
The California-based company, which operates 599 stores, also reported a 13 per cent jump in quarterly sales to $992m, up from $879m in the prior first quarter.
Comparable store sales, meanwhile, grew three per cent for the period.
According to CEO Michael Balmuth, the dip in earnings was partly related to a roof collapse at the company's South Carolina facility in January.
Companies: Ross Stores
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