Ross Stores Reports March Sales and Estimated First Quarter EPS

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Ross Stores Reports March Sales and Estimated First Quarter EPS

    NEWARK, Calif., April 12 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq: ROST)
today reported sales of $272 million for the five weeks ended April 7, 2001, a
4% increase above the $261 million in sales for the five weeks ended
April 8, 2000.  Comparable store sales for the month declined 3% from the
prior year on a day-for-day basis.
    For the nine weeks ended April 7, 2001, sales totaled $453 million, a
4% increase above the $437 million in sales for the nine weeks ended
April 8, 2000.  Comparable store sales for the two months declined 3% from the
prior year on a day-for-day basis.
    In commenting on business, Michael Balmuth, Vice Chairman and
Chief Executive Officer, stated, "Same store sales in March performed at the
low end of our forecast of flat to down 3%.  We believe that our business
during the month was negatively impacted by unseasonably cool weather in many
of our markets.  If same store sales in April perform in line with our
forecast of flat to down 3% from the prior year, we believe that earnings per
share will be in the range of $.43 to $.44 for the first quarter ending
May 5, 2001, compared to $.47 in earnings per share for the first quarter
ended April 29, 2000.  The current First Call(TM) earnings per share consensus
for the 2001 first quarter is $.43."
    Additional recorded information concerning today's press release and the
company's future outlook can be accessed by calling 402-220-5900,
PIN #2363, from 8:30 a.m. eastern time on April 12, 2001 through 8:00 p.m.
eastern time on April 13, 2001.  A transcript of these comments also will be
made available on the press release page of the company's web site at
http://www.rossstores.com.
    Forward-Looking Statements:  This press release contains certain
forward-looking statements which are subject to risks and uncertainties that
could cause the company's actual results to differ materially from
management's current expectations.  The words "expect," "anticipate,"
"estimate," "believe," "forecast," "projected" and similar expressions
identify forward-looking statements.  The estimated range for earnings per
share for the first quarter ending May 5, 2001 is preliminary and subject to
certain risks and uncertainties.  Risk factors include obtaining acceptable
new store locations, competitive pressures in the apparel industry, changes in
the level of consumer spending on or preferences in apparel or home-related
merchandise, unseasonable weather trends, and greater than planned operating
costs.  Other risk factors are detailed in the company's Form 10-K for fiscal
1999.  The factors underlying our forecasts are dynamic and subject to change.
As a result, our forecasts speak only as of the date they are given and do not
necessarily reflect the company's outlook at any other point in time.  The
company does not undertake to update or revise these forward-looking
statements.
    Ross Stores, Inc. operates a national chain of off-price retail stores
offering first quality, in-season, branded apparel and apparel-related
merchandise for the entire family at prices that average 20% to 60% less than
department and specialty stores, as well as merchandise for the home at
similar savings.  The company had 417 stores in operation at
April 7, 2001, compared to 385 stores at the end of the same period last year.

SOURCE Ross Stores, Inc.

http://www.rossstores.com
Company News On-Call:

http://www.prnewswire.com/comp/764175.html or fax,
800-758-5804, ext. 764175
CONTACT:
John G. Call, Senior Vice President & Chief
Financial Officer, 510-505-4315, or Katie Loughnot, Director,
Investor Relations, 510-505-4509, or katie.loughnot@ros.com, both
of Ross Stores, Inc.