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NEW YORK ( TheStreet) -- Ross Stores (Nasdaq: ROST) hit a new 52-week high Friday as it is currently trading at $55.83, above its previous 52-week high of $55.60 with 243,442 shares traded as of 11:05 a.m. ET. Average volume has been two million shares over the past 30 days. Ross Stores has a market cap of $11.89 billion and is part of the services sector and retail industry. Shares are up 16.5% year to date as of the close of trading on Thursday. Ross Stores, Inc., together with its subsidiaries, operates off-price retail apparel and home accessories stores under the Ross Dress for Less and dd's DISCOUNTS brand names in the United States. The company has a P/E ratio of 20.3, above the average retail industry P/E ratio of 19.3 and above the S&P 500 P/E ratio of 17.7.