Ross' Comps Outshines Again - Analyst Blog
06 12월 2011 - 2:59AM
Zacks
Ross Stores Inc. (ROST), the second largest
off-price retailer of apparel and home accessories, reported a
growth of 5% in comparable store sales for the four-week period
ended November 26, 2011. The same-store sales result came in better
than the company's forecast of a 2% to 3% increase for the
month.
For the month under review, sales increased 10% to $765 million
from $696 million in the year-ago period. Regionally, Florida,
California and Southwest were the top performing market with
categories like Juniors and Shoes positively influencing
results.
Comparable store sales for third-quarter ended October 29, 2011,
grew 5% from the prior-year quarter. However, sales surged 9% to
$2,046 million compared with sales of $1,874 million in the
year-ago quarter.
Comparable store sales for ten months ended November 26, 2011,
spiked 5% compared with a rise of 6% in the prior-year period.
Total sales for the period rose 9% to $6,976 million from $6,417
million a year ago.
Execution during the month and the ten-month period was driven
by the company's aptitude in providing attractive brand name
bargains to customers, who value both quality and price.
Ross' nearest competitor, The TJX Companies
Inc. (TJX), reported an increase of 4% in same-store sales
for the month.
Guidance
Driven by the ahead-of-plan sales and merchandise gross margin
results in third-quarter 2011, the company expects earnings per
share to be in the range of $1.53 to $1.59 for the fourth quarter
of fiscal 2011 with same store sales increasing 2 to 3%. The
current Zacks Consensus Estimate for the quarter is $1.59 per share
coinciding with the upper end of the guidance range.
The company expects to achieve a growth rate of 3% to 4% in
December 2011 comparable sales and 1% to 2% in January 2012
comparable sales.
For fiscal 2011, the company anticipates earnings in the range
of $5.54 to $5.61 per share, an increase of 20.0% to 21.0% over
fiscal 2010. The current Zacks Consensus Estimate for the fiscal
stood at $5.61 per share.
We believe that Ross' continuous effort
to increase its store base coupled
with the ability to deliver positive
comparable same-store sales will augur well
for its top-line growth.
Ross' shares maintain a Zacks #1 Rank, which translates into a
short-term Strong Buy rating. Our long-term recommendation on the
stock remains Outperform.
ROSS STORES (ROST): Free Stock Analysis Report
TJX COS INC NEW (TJX): Free Stock Analysis Report
Zacks Investment Research
TJX Companies (NYSE:TJX)
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TJX Companies (NYSE:TJX)
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