{"id":32506,"date":"2012-08-16T14:05:00","date_gmt":"2012-08-16T14:05:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/ross-stores-rost-reports-strong-second-quarter-earnings\/32506\/"},"modified":"2012-08-16T14:05:00","modified_gmt":"2012-08-16T14:05:00","slug":"ross-stores-rost-reports-strong-second-quarter-earnings","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/ross-stores-rost-reports-strong-second-quarter-earnings\/32506\/","title":{"rendered":"Ross Stores &#8211; ROST &#8211; Reports Strong Second Quarter Earnings"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><strong>Ross Stores, Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=ROST\">Nasdaq: ROST<\/a>)<\/strong> reported earnings per share for the 13 weeks ended July 28, 2012 of $.81, up from $.64 for the 13 weeks ended July 30, 2011. These results represent a 27% increase on top of a 20% gain in last year&#8217;s second quarter. Net earnings for the quarter grew to $182.0 million, up 23% from $148.3 million in the prior year. Sales for the 13 weeks ended July 28, 2012 increased 12% to $2.341 billion, with comparable store sales up 7% on top of a 5% gain in 2011.<\/p>\n<p>For the six months ended July 28, 2012, earnings per share were $1.74, up from $1.38 for the six months ended July 30, 2011. These results represent a 26% increase on top of a 23% gain in the first half of 2011. Net earnings for the six months ended July 28, 2012 were $390.6 million, up 22% from $321.2 million in the prior year period. Sales for the first six months of 2012 increased 13% to $4.698 billion, with comparable store sales up 8% on top of a 4% gain last year.<\/p>\n<p>Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, &#8220;We are pleased with our better-than-expected results for the second quarter and first six months of 2012. Our strong sales and earnings growth for both periods continues to be driven by our ability to deliver compelling name brand bargains to today&#8217;s value-focused consumers while strictly controlling both inventories and expenses.&#8221;<\/p>\n<p>Mr. Balmuth continued, &#8220;Operating margin for the second quarter grew about 110 basis points to a record 12.8% due to an 80 basis point improvement in cost of goods sold combined with a 30 basis point reduction in selling, general and administrative expenses from the robust gain in same store sales.&#8221;<\/p>\n<p>Mr. Balmuth also noted, &#8220;We continued to enhance stockholder returns through our stock repurchase and dividend programs in the second quarter. During the first six months of fiscal 2012, we repurchased 3.7 million shares of common stock for an aggregate price of $224 million. We remain on track to buy back a total of $450 million in common stock during fiscal 2012 to complete the two-year $900 million program authorized in early 2011.&#8221;<\/p>\n<p>Looking ahead, Mr. Balmuth said, &#8220;For the 13 weeks ending October 27, 2012, we are forecasting same store sales to increase 3% to 4% and earnings per share in the range of $.63 to $.66. This compares to earnings per share of $.63 in last year&#8217;s third quarter, which benefited from both better-than-expected shortage results and a lower tax rate due to favorable tax audit settlements. Together these two items increased third quarter 2011 earnings per share by about $.06. For the 13 weeks ending January 26, 2013, the Company is projecting same store sales to be up 1% to 2% on top of a strong 7% increase in the fourth quarter of 2011. Earnings per share for the 14 weeks ending February 2, 2013 are forecast to be in the range of $.99 to $1.04, which includes an estimated $.08 to $.09 benefit from the 53<sup>rd<\/sup> week this year, and compares to $.85 for the 13 weeks ended January 28, 2012.&#8221;<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120817130957\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fross-stores-rost-reports-strong-second-quarter-earnings%2F32506&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-held-steady-as-investors-wait-bolder-actions-from-ecb-after-merkels-support-silver-prices-lower\/32585\">\nGold Prices held Steady as Investors wait Bolder Actions from ECB after Merkel\u2019s Support\u2019 Silver Prices Lower<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/u-s-stock-futures-mix-ahead-of-confidence-data\/32577\">\nU.S. Stock Futures Mix Ahead of Confidence Data<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/childrens-place-reports-q2-results-plce\/32571\">\nChildren\u2019s Place Reports Q2 Results (PLCE)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-edge-higher-on-merkels-comments-monetary-easing-hopes\/32570\">\nGold Prices Edge Higher on Merkel\u2019s Comments, Monetary Easing Hopes<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-higher-all-three-major-indexes-finish-at-session-highs\/32531\">\nStocks End Higher; All Three Major Indexes Finish at Session Highs<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-on-monetary-easing-hopes-silver-prices-also-gain\/32530\">\nGold Prices Settle Higher on Monetary Easing Hopes; Silver Prices also Gain<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-headed-for-a-higher-finish-33\/32527\">\nStocks Headed for a Higher Finish<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20120817130957im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ross Stores, Inc. (Nasdaq: ROST) reported earnings per share for the 13 weeks ended July 28, 2012 of $.81, up [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[6],"tags":[1311],"class_list":["post-32506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot-stocks-to-watch","tag-rost"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/32506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=32506"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/32506\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=32506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=32506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=32506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}