Ross ups Q4 outlook after strong December
Pleasanton, Calif. Ross Stores boosted its fourth-quarter outlook Thursday after posting sharply higher December sales than expected. Ross said its December same-store sales climbed 12% from 2008, nearly twice analysts’ estimates.
Executives of the chain said same-store sales will likely climb 6% to 7% in January, up from a previous forecast for a rise of 4% to 5%
Dollar General names former CVS exec to board
GOODLETTSVILLE, Tenn. Dollar General David Rickard to its board of directors.
Rickard served as EVP, chief financial officer and chief administrative officer of CVS Caremark Corporation and CVS Pharmacy from September 1999 until December 2009. Prior to joining CVS Caremark, Rickard was the SVP and chief financial officer of RJR Nabisco Holdings Corporation from 1997 to 1999.
“We are pleased to welcome such a retail veteran to our board,” said Rick Dreiling, Dollar General’s chairman and CEO. “Dave’s years of experience and diverse retail industry background will be an asset to the Dollar General board. We are certain that his expertise will serve Dollar General well as we work to move the company forward.”
TWE reports December comps decline
ALBANY, N.Y. Trans World Entertainment reported a comparable-store sales decrease of 5% for the five-week period ended Jan. 2.
For the nine-week period ended Jan.2, comparable-store sales decreased 8%. Total sales for the nine-week period were $241 million compared with $287 million for the same period last year, a decrease of 16%.
For the eleven-month period ended Jan. 2, comparable-store sales decreased 10%. Total sales for the period decreased 18% to $760 million compared with $930 million during the same period last year.