Ross Stores earnings leap 16% in Q3
Pleasanton, Calif. — Ross Stores reported Thursday earnings for the quarter ended Oct. 30 rose 16% to a record $121.4 million, compared with $105.1 million in the year-ago period.
Sales increased 7% to $1.874 billion, with same-store sales up 3% on top of a strong 8% gain in the prior year.
“The best performing merchandise categories during the third quarter were Dresses and Home,” said Michael Balmuth, vice chairman and CEO. “Geographic trends were relatively broad-based, with the strongest performance in Florida."
Ross Stores operates 990 Ross Dress for Less stores and 67 dd’s Discounts locations.
Children’s Place reports lagging sales and profits in Q3
Secaucus, N.J. — The Children’s Place Retail Stores reported Thursday that net income for the third quarter dropped to $31.2 million, compared with net income of $38.2 million in the prior year.
Net sales declined 2.1% to $453.4 million, compared with $463.2 million in the third quarter of fiscal 2009.
Same-store sales decreased 5.7%.
"As we announced mid-October, third quarter sales and profits for The Children’s Place were impacted by poorly performing fashion in the back-to-school line as well as unseasonably warm temperatures," said Jane Elfers, president and CEO. "While short-term market conditions remain challenging for our business, we are making significant progress on our longer-term growth initiatives, which we believe will lead to enhanced sales and profitability in 2011 and beyond."
During the third quarter of fiscal 2010, the company opened 28 stores. It currently operates 1,005 stores.
Casual Male swings to profit in Q3, ups guidance
Canton, Mass. — Casual Male Retail Group said Thursday it swung to a profit of $0.3 million in the third quarter, compared with a loss of $1.4 million a year earlier.
Total sales edged up 1.4% to $89.9 million, and same-store sales increased 3%.
Casual Male Retail Group, the largest retailer of big and tall men’s apparel with operations throughout the United States, Canada and Europe, operates 445 Casual Male XL retail and outlet stores; four Destination XL stores; 17 Rochester Clothing stores; and direct-to-consumer businesses, which include several catalogs and e-commerce sites.