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Updated from 12:48 p.m. EDT

Second-quarter earnings at

Ross Stores

(ROST) - Get Ross Stores Inc. Report

rose 13% despite slow same-store sales, the company said Wednesday.

The clothing chain earned $54.6 million, or 70 cents a share, in its quarter ended Aug. 2. That result compared with the year-ago quarter, when Ross earned $49.7 million, or 62 cents a share.

Overall revenue at Newark, Calif.-based Ross rose 10.1% from the second quarter last year to $965.6 million. But on a same-store basis, which compares results at similar outlets open more than one year, the company's sales were unchanged.

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Ross's results met analysts' estimates and the company's projections. Analysts polled by Thomson First Call were expecting Ross to earn 70 cents a share on $964.7 million in sales. The company updated its earnings guidance earlier this month, saying it expected profits to hit the top of its previously stated 66 cents to 70 cents a share range.

During a conference call with investors and analysts, Ross officials reiterated the earnings guidance they gave earlier this month. Company officials estimate the company will earn 64 cents to 66 cents a share in the third quarter on same-store sales growth of 3% to 4%. In the fourth quarter, the company expects to earn 85 cents to 88 cents per share on 3% to 4% comparable-store sales growth.

Analysts have projected that Ross will earn 65 cents a share in the third quarter.

Despite the company's overall earnings growth in the second quarter, its operating earnings remained essentially flat at 9.3%. Mixed results on its expense lines helped keep operating earnings in check.

The company's gross profit margins narrowed by 13 basis points from the year-ago quarter to 25% of sales. Gross profit margin represents between what a company charges for its goods and the direct cost to the company of selling those goods. The decline in gross margin at Ross during the quarter was a result of declining profit margins on its merchandise and increased store occupancy costs, company officials said.

The company offset that decline in gross margin with a small drop in its marketing, general and administrative expenses as a portion of sales. Such costs fell by 8 basis points to 15.72% of sales. Company officials attributed that decline to decreased advertising and distribution expenses and a drop in benefits and incentive pay costs.

Despite meeting expectations, Ross shares traded down following its report. In recent trading, the company's stock was off 33.8 cents, or 0.7%, to $47.65.