Overall, Ross had a strong quarter posting a year-over-year same-store-sales jump of 6%, on revenues $1.4 billion, which were up 16%. Net earnings for the period ended Jan. 28 were up 37%, to $71 million.
For the current quarter, executives are predicting a 3% to 4% same-store sales increase. February came in at 6%, but they are forecasting a 1.2% increase in March, since Easter falls in April this year compared to last year when it fell in March. Earnings per share are seen coming in at 37 cents to 39 cents, compared to 31 cents the same period last year.
This year Ross plans to open six dd's Discounts stores, a chain the company launched in 2004 that targets low-income households. Last year Ross opened 10 of those units, and retailer currently operates 26, all of them in California.
Ross' same-store sales for the full year in 2006 were up 6%, year over year, and total sales increased 17%, to just north of $4.9 billion. The company's earnings were $199.6 million, up from $169.9 million the year before.
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