EARNINGS : Ross Stores Income Falls 29.6%
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NEWARK, Calif. — Discount clothing retailer Ross Stores Inc. said today net income dropped 29.6% in the second quarter to $5 million, or 21 cents a share, from $7.1 million, or 30 cents a share, a year ago.
Sales grew to $193.2 million from $175.6 million in the year-earlier quarter. Stores open more than a year posted flat sales from last year’s second quarter.
For the six months ended Aug. 4, net income dropped 37.5% to $6.6 million, or 28 cents a share, from $10.5 million, or 43 cents a share, in the comparable period of 1989.
Sales grew to $364.3 million from $331 million in the year-earlier period. Comparable-store sales dipped 3% from the first half of fiscal 1989.
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