[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather
Santa Clarita CA
Partly sunny
Partly sunny
56°F
 
Calendar
Today in
S.C.V. History
November 18
1957 - Newhall County Library dedicated on Ninth Street; rededicated as city of Santa Clarita's Business Incubator exactly 57 years later (2014) [story]


rossdressforlessrossstoreslogoRoss Stores Inc. reported earnings per share for the fourth quarter ended Jan. 30, 2016, of $.66, up 10 percent from the prior year, on net earnings that rose 6 percent to $264 million. Sales for the fiscal 2015 fourth quarter grew 7 percent to $3.251 billion, with comparable store sales up 4 percent versus a 6 percent gain last year.

For the fiscal year, earnings per share rose 14 percent to $2.51 on top of strong multi-year increases, while net earnings increased 10 percent to $1.021 billion. Sales for the 2015 fiscal year grew 8 percent to $11.940 billion, with comparable store sales up 4 percent.

Barbara Rentler, Chief Executive Officer, commented, “We are pleased with our sales and earnings results for the fourth quarter, which exceeded our expectations despite the highly promotional holiday selling environment and our most challenging sales comparisons from the prior year. These results were driven by the competitive values we offered on a wide assortment of name brand bargains and gifts throughout our stores.”

Ms. Rentler continued, “Fourth quarter operating margin was 12.7 percent compared to 13.1 percent in the prior year, as higher merchandise margin and tight expense control were more than offset by the timing of packaway-related costs. For the 2015 fiscal year however, operating margin rose 10 basis points to a record 13.6 percent.”

 

Update on Stock Repurchase Program

A total of 13.7 million shares of common stock were repurchased during fiscal 2015, for an aggregate purchase price of $700 million under the two-year $1.4 billion program announced in February 2015. We expect to complete the $700 million remaining under this authorization in fiscal 2016.

 

Declaration of Higher Quarterly Cash Dividend

The Company’s Board of Directors also recently approved an increase in the quarterly cash dividend to $.135 per share, up 15 percent on top of an 18 percent increase last year. This higher quarterly dividend will be payable on March 31, 2016 to stockholders of record as of March 14, 2016.

Ms. Rentler noted, “The continued growth of our shareholder payouts reflects our ongoing confidence in the Company’s ability to generate significant amounts of cash after funding our growth and the other capital needs of our business. We have repurchased stock as planned every year since 1993 and raised our cash dividend annually since its inception in 1994. This consistent record reflects our unwavering commitment to enhancing stockholder value and returns.”

 

Fiscal 2016 Guidance

Looking ahead, Ms. Rentler said, “As we enter 2016, we continue to face our own challenging multi-year comparisons in an increasingly uncertain and volatile macro-economic and retail environment. As a result, while we hope to do better, we believe it is prudent to maintain a somewhat cautious outlook when forecasting sales and earnings for the coming year.”

For the 52-week fiscal year ending January 28, 2017, the Company is projecting same store sales to grow 1 percent to 2 percent and earnings per share of $2.59 to $2.71, up 3 percent to 8 percent from $2.51 in fiscal 2015. For the first quarter ending April 30, 2016, comparable store sales are forecast to be up 1 percent to 2 percent with earnings per share projected to be flat to up 4 percent to $.69 to $.72. This compares to EPS of $.69 in the first quarter of 2015, the strongest period last year, when comparable sales rose 5 percent and EPS grew 19 percent.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


Latest Additions to SCVNews.com
1957 - Newhall County Library dedicated on Ninth Street; rededicated as city of Santa Clarita's Business Incubator exactly 57 years later (2014) [story]
1969 - Construction begins on Magic Mountain amusement park [story]
Democratic challenger Christy Smith's lead has widened to 3,099 votes over Republican incumbent Dante Acosta in the race for California's 38th District, according to the updated ballot count released Friday afternoon by the Los Angeles County and Ventura County registrars of voters.
Smith Widens Lead in 38th Assembly District Tally
Retired Los Angeles County Sheriff's Lt. Alex Villanueva has pulled ahead of incumbent Sheriff Jim McDonnell by 57,810 votes in the Nov. 6 general election
Sheriff’s Race: Villanueva Widens Lead Over McDonnell by Nearly 58K Votes
A new three-year collective bargaining agreement between Kaiser Permanente and the Alliance of Health Care Unions is now in effect through Sept. 30, 2021.
Kaiser Permanente, Health Care Unions Ratify New National Deal
The next meeting of the Los Angeles County Board of Supervisors is set for Tuesday, Nov. 20, starting at 9:30 a.m.
Nov. 20: LA County Board of Supervisors Meeting
The Santa Monica Mountains National Recreation Area suffered significant damage from the Woolsey Fire, including the destruction of the Western Town at Paramount Ranch and a building housing priceless archives, the National Park Service reported Friday.
Woolsey Fire Destroys Western Town, Museum, Archives at Paramount Ranch
A multitude of important disaster recovery resources from government, non-profit, and private agencies are now available online at www.lacounty.gov/woolseyfire to help support residents, business owners, and others impacted by the Woolsey Fire.
County Launches Recovery, Damage Reporting Webpage for Woolsey Fire Victims
Red Rock Canyon State Park officials have set their schedule of interpretive events for the second half of November.
Red Rock Canyon State Park Sets November Walks, Talks, Slide Show
Registration is underway for the College of the Canyons winter semester, and registration for the spring 2019 semester will begin Tuesday, Jan. 2.
Register Now for COC Winter Semester; Spring Registration to Open Jan. 2
The California State Auditor rebuked the agency in charge of implementing the state’s high-speed rail project Thursday, finding lack of planning and poor oversight has led to cost overruns plaguing the Golden State’s efforts.
Cost Overruns, Poor Oversight Plague California Bullet Train
The U.S. Small Business Administration has issued a disaster declaration for Los Angeles County that will make low-interest federal disaster loans available to businesses and residents impacted by the Woolsey Fire.
Feds Offer Low-Interest Loans to LA County Wildfire Victims
Santa Clarita Valley Sheriff's Station deputies arrested a man on Friday suspected of vandalizing a Newhall business over the Veterans Day holiday weekend.
SCV Deputies Arrest Newhall Vandalism Suspect
The city of Santa Clarita, in partnership with Parkway Motorcars, will once again hold a Thanksgiving Community Dinner at the Newhall Community Center, located at 22421 Market Street in Newhall.
Nov. 19: City’s Annual Thanksgiving Community Dinner
Valencia native, Celine Chen, 14, will compete as a Division Finalist in the Music Teachers National Association (MTNA) Southwest Division Junior Piano.
West Ranch Freshman Heads to Southwest Division Piano Competition
1941 - Rose (stagecoach) Station at bottom of Grapevine dedicated as California Historical Landmark [story]
Princess Cruises has been recognized by SHAPE magazine as a winner in its fourth annual Healthy Travel Awards, recognizing the cruise line’s state-of-the-art Lotus Spa and Fitness Centers onboard its 17 cruise ships.
SHAPE Magazine Recognizes Princess Cruises with Healthy Travel Award
Most people with Medicare will pay the standard monthly premium for Medicare Part B, which will be $135.50 next year, an increase of $1.50 over 2018. Your Part B premium is based on your income. People whose tax returns show income equal to or higher than $85,000 pay higher premiums. These income-adjusted premiums apply to about 5 percent of all Medicare beneficiaries.
Your Medicare Costs in 2019 | Commentary by Greg Dill
The Michael Hoefflin Foundation for children’s cancer is getting ready to celebrate the 2018 Holiday Season.
Michael Hoefflin Foundation Seeking Donations for Holiday Baskets
Chili cook-off entries and craft boutique applications are now being accepted for the Antelope Valley Indian Museum’s eighth-annual “Holidays on the Homestead,” to be held on Saturday Dec. 1, from 5:00 p.m. - 8:00 p.m.
Dec. 1: Annual ‘Holidays on the Homestead’ at AV Indian Museum
The Santa Clarita Valley Chamber of Commerce is pleased to announce Nancy Starczyk as the 2019 Chair of the Board of Directors.
Realtor Nancy Starczyk Named 2019 SCV Chamber Board Chair
The Brittany Foundation will be at Bark Avenue Dog Grooming on Saturday Dec. 8, from 11:00 a.m. - 3:00 p.m., for pet pictures with Santa.
Dec. 8: Pet Pictures with Santa at Bark Avenue Dog Grooming
The Silvertone Singers, in an effort to raise funding for the new Senior Center set to open in Spring 2019, presents a concert focusing on the theme of "Money."
Nov. 29: Concert, Art Exhibit Benefiting SCV Senior Center
SACRAMENTO - Every year, as the percentage of drivers age 65 and older increases, many look to the California Highway Patrol (CHP) to help them maintain their ability to drive safely.
CHP Implements ‘Age Well, Drive Smart’ for Senior Drivers
Smart & Final Stores, Inc., the value-oriented food and everyday staples retailer, reported Wednesday financial results for the fiscal third quarter ended Oct. 7, 2018.
Smart & Final Overall Sales Increased 2.8% Over Last Year
No. 1 College of the Canyons will host No. 4 Ventura College in a California Community College Athletic Association (CCCAA) Southern California Regional Playoff first round matchup at Cougar Stadium on Saturday Nov. 17. Kickoff is scheduled for 6:00 p.m.
No. 1 Canyons Faces Off Against No. 4 Ventura in First Round Matchup
Grab your broom, don your ruby red slippers and travel to the wonderful land of Oz – long before Dorothy and her friends burst onto the scene.
City Offering ‘Wicked’ Excursion to Pantages Theatre
Fire officials raised the Fire Danger Level from “Very High” to “Extreme” in the Angeles National Forest and San Gabriel Mountains National Monument.
Officials Raise Fire Danger Levels in Angeles National Forest to ‘Extreme’
1978 - Southern Pacific Saugus depot closes; later moved & used as SCV Historical Society museum [story]
Republican incumbent Dante Acosta conceded Wednesday to Democratic challenger Christy Smith in the tight race for California's 38th Assembly District seat in the Nov. 6 general election.
Acosta Concedes to Smith in Assembly Race as Ballot Tally Continues
There's a temptation inherent to a free-flowing and high scoring game.
TMU Men’s Hoopsters Show Selflessness in Win Over Bethesda
TMU's women's volleyball team will fly to Sioux City, Iowa, to begin pool play on Nov. 27 to Nov. 29.
TMU Women’s Volleyball Earns Bye to NAIA Final Site in Iowa
Before Saturday night's GSAC title game, the PA announcer indulged himself in a bit of low-hanging humor.
TMU Women’s Volleyball Wins GSAC Tourney Title, Earns NAIA Bid
Master's women's volleyball team scored a 3-0 semifinal win over Menlo College on the way to the Golden State Athletic Conference tournament at Hope International in Fullerton.
TMU Women’s Volleyball Team Advances to GSAC Title Game