Ross Stores Reports Record 2Q Increases
Pleasanton, Calif. Ross Stores reported Wednesday that net earnings for the second quarter ended Aug. 2 rose 40% to a record $71.3 million, compared to $50.9 million for the second quarter ended August 4, 2007.
Additional milestones included a 14% increase in second-quarter sales, which topped out at $1.640 billion, as well as a 6% jump in same-store sales.
“We are pleased to report strong sales and earnings growth for the second-quarter period,” said Michael Balmuth, vice chairman, president and CEO, Ross. “Besides offering bargains on fresh name brands, the tax-rebate checks and favorable weather also benefited sales in the quarter.”
The company reported that dresses, accessories and shoes were the strongest merchandise categories during the second quarter, and the best-performing markets were in Texas and the Mid-Atlantic.
“Looking ahead to the important back-to-school and holiday periods, we believe it is prudent to remain defensively positioned based on the uncertain macro economic and retail environments, which no longer have the benefit of the tax-rebate checks,” Balmuth said. “As a result, we are maintaining our original target of comparable store sales gains of 2% to 3% for both the third and fourth quarters.”
Costco offers promotions with LeverageCard.com
IRVINE, Calif. Costco has partnered with LeverageCard.com to allow consumers to buy Costco Membership Certificates online and then receive Costco promotions and coupon booklets.
Certificates purchased through LeverageCard.com can be used to renew, upgrade or register for a membership in any Costco store nationwide. The minimum purchase is $50 and for each certificate purchased, LeverageCard.com will send one complimentary coupon booklet, which includes coupons for free items and discounts on Costco staples, including fresh meat and bottled water, worth over $40.
“This relationship with Costco is a terrific step for us as we look to expand our gift card offerings and provide unique offers and savings to our users,” said Mark Edward Roberts, CEO and co-founder, Leverage. “We are proud to be working with Costco in a way that so dramatically enhances the customer experience for both Costco and Leverage shoppers.”
Consumers will also be able to exchange their purchased Costco Membership Certificates for other gift cards available on LeverageCard.com using the site’s signature swapping system.
Springs names senior account manager
ROCK HILL, S.C. Springs Creative Products Group has named Teri Thom as senior account manager. In this capacity, Thom’s responsibilities include sales and product development for Jo-Ann Stores, Target, Tractor Supply Company, Cracker Barrel, Scholastic, A.C. Moore and Books are Fun.
Before joining Springs Creative Products Group, Thom worked in merchandising and product development for Jo-Ann Stores in Hudson, Ohio. Prior to that, she served as a buyer for Dillard’s Department Stores and a store manager for The Gap.