星期五 [ 2010-2-26 10:31:45 | watches1013 ]   Ross registers record profits Ross Stores Inc. said Thursday that third-quarter profits soared 83 percent higher than the year before, beating Wall Street's expectations by a comfy margin. Still, the dreary economy has clouded the outlook for the discount retailer of clothes and shoes. Pleasanton-based Ross maintained its previously announced guidance for fourth-quarter earnings. But the problem is the guidance is below Wall Street's expectations. And that appeared to trigger a sell-off of Ross' shares. Ross fell 2.7 percent, or $1.22 a share, to finish at $44.85 on Thursday. "With a still uncertain economic climate, we believe it is prudent to maintain our prior forecast for both sales and earnings," said Michael Balmuth, Ross chief executive officer. replica clothing Ross earned a record $105 million, or 84 cents a share, on sales of $1.74 billion. FactSet-polled analysts had expected Ross would earn 78 cents. Sales were in line with estimates. "Our ability to deliver compelling bargains, while operating our business on much lower inventories, remains the primary driver of these outstanding results," Balmuth said. rolex replica Industry analysts believe Ross has tapped into a Mother Lode of consumers who seek to curb expenditures. "The economic downturn has helped retailers such as Ross that have a strong value proposition," said Anne Brouwer, a senior partner with McMillan Doolittle, a Chicago-based retail consultancy. "Ross is certainly outpacing its competition." Ross has kept an edge partly by forcing its rivals to revamp their price models. The current discounting game is being played on Ross' battleground. "Companies like Ross or Dollar Stores don't have to reinvent who they are and what they stand for," Brouwer said. "When department stores or general merchandisers undertake aggressive discounting, that can wreak havoc on their margins." Some analysts say Ross will maintain its momentum. "We embroidered patches expect same-store sales trends to remain positive throughout fiscal year 2010 despite more difficult comparisons," Laura Champine, an analyst with New York-based investment firm Cowen & Co., said in a research note. Despite the robust earnings, the most crucial period of the year now looms for Ross and other retailers. "As we enter the important holiday season, we remain well positioned as a value retailer," Balmuth said. George Avalos can be phoned at 925-977-8477. 浏览(110) | 回复(0) |
