Ross Stores January Comps Rise 4%; Approves Share Buyback Plan and Raises Dividend 21%

Ross Stores January Comps Rise 4%; Approves Share Buyback Plan and Raises Dividend 21%


On Thursday discount retail store operator Ross Stores, Inc. (ROST) reported its January sales results, posting a 4% growth in comparable same-store sales. Also, the company approved a 21% increase to its quarterly dividend payout.

The Pleasanton, California-based company said its January sales were $672 million, a 39% increase from the $483 million in sales in January of 2012. Comparable same-store sales grew 4% in January versus a 5% gain in January of 2012.

Year-over-year sales grew 13% to $9.721 billion compared to $8.608 billion in sales in the previous year. Same store sales from January 2012 to January 2013 rose 6% versus a 5% growth in same store sales from January 2011 to January 2012.

The company is now expected its quarterly earnings per share to be in a range of $1.06 and $1.07. Analysts are expecting EPS to be $1.06 cents in the quarter.

Ross also announced the approval of a $1.1 billion share buyback plan over the next two years. Furthermore, the Board of Directors raised its quarterly dividend payout from 14 cents per share to 17 cents per share, a 21% increase.

Ross shares were up slightly during morning trading on Thursday. The stock is up +14% over the past year.

The Bottom Line
Shares of Ross Stores (ROST) have a dividend yield of 1.14% based on Thursday’s intraday trading price of $59.76 and the company’s updated annualized dividend payout of 68 cents per share.

Ross Stores, Inc. (ROST) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today