Ross Stores earnings leap 16% in Q3

Pleasanton, Calif. -- Ross Stores reported Thursday earnings for the quarter ended Oct. 30 rose 16% to a record $121.4 million, compared with $105.1 million in the year-ago period.

Sales increased 7% to $1.874 billion, with same-store sales up 3% on top of a strong 8% gain in the prior year.

“The best performing merchandise categories during the third quarter were Dresses and Home,” said Michael Balmuth, vice chairman and CEO. “Geographic trends were relatively broad-based, with the strongest performance in Florida."

Ross Stores operates 990 Ross Dress for Less stores and 67 dd's Discounts locations.