Ross Stores Reports Strong May Sales Results And Updates Second Quarter EPS Outlook

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Ross Stores Reports Strong May Sales Results And Updates Second Quarter EPS Outlook

    NEWARK, Calif., June 6 /PRNewswire-FirstCall/ --
Ross Stores, Inc. (Nasdaq: ROST) today reported sales of $268 million for the
four weeks ended June 1, 2002, a 21% increase above the $221 million in sales
for the four weeks ended June 2, 2001.  Comparable store sales for the month
rose 10% over the prior year.
    For the four months through June 1, 2002, sales were $1.088 billion, a
22% increase above the $895 million in sales for the prior year's comparable
period ended June 2, 2001.  Comparable store sales for the four-month period
also rose 10% over the prior year.
    In commenting, Michael Balmuth, Vice Chairman and Chief Executive Officer,
stated, "We are very pleased with our robust performance in May.  An abundance
of fresh and exciting name brand fashions for the family and the home at
compelling discounts drove same store sales gains that were significantly
ahead of our expectation for a 3% increase.  As a result, assuming that same
store sales grow 6% and 5%, respectively, as forecasted in June and July, we
now estimate that the better than expected sales in May could add as much as
$.03 in earnings per share to our prior forecast of $.54 for the second
quarter."
    Additional recorded information concerning today's press release and the
company's future outlook for the second quarter and fiscal year can be
accessed by calling 402-220-5900, PIN #2363, from 8:30 a.m. eastern time on
June 6, 2002 through 8:00 p.m. eastern time on June 7, 2002.  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.  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 2001.  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 476 stores in operation at June 1, 2002,
compared to 419 stores at the end of the same period last year.

SOURCE Ross Stores, Inc.

http://www.rossstores.com
CONTACT:
John G. Call, Senior Vice President, Chief
Financial Officer, +1-510-505-4315; or Katie Loughnot, Vice
President, Investor Relations, +1-510-505-4509, or
katie.loughnot@ros.com, both of Ross Stores, Inc.