Glitch Lingers at Ross Stores

Shares of Ross Stores(ROST Quote) fell Wednesday after the company said second-quarter profit dropped by almost half due in part to problems with a new merchandising system.

Further, the company reportedly said in a post-earnings conference call that it is operating with less visibility than it has in the past and that results so far in August have been softer than expected.

Ross said earlier Wednesday that it "made progress during the quarter in resolving many of the problems we have experienced with this new system. We continue to make progress addressing the information requirements most important to the buying process and believe that most of these data needs will be addressed in the next few weeks, with some planned to be complete later in the third quarter." ...