Ross Stores February key sales figure rises 11 percent, beats analysts’ expectations

Ross Stores key sales figure up 11 percent in Feb.

PLEASANTON, Calif. — Discount retailer Ross Stores Inc. said Thursday that a key sales figure rose 11 percent in February, surpassing Wall Street’s expectations.

Analysts surveyed by Thomson Reuters predicted sales at stores open at least a year would increase 6 percent for the month. This figure is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

For the four-week period ended Feb. 27, total sales climbed 16 percent to $554 million.

Ross Stores maintained its forecast for sales at stores open at least a year to rise between 3 percent and 4 percent in March and for results from flat to 1 percent higher in April.

Vice Chairman and CEO Michael Balmuth said in a statement that the reaffirmed outlooks were partly due to a shift in Easter’s timing this year, saying that it will be difficult to predict how that will impact performance.

Last month, Ross Stores boosted its fourth-quarter earnings forecast for a second time, after reporting higher January sales.

Ross Stores had 953 Ross Dress for Less stores and 54 dd’s Discounts stores as of Feb. 27.

Shares rose $1.54, or 3.1 percent, to $50.99 in morning trading.