Content about Michael Balmuth

January 28, 2014

Ross Stores has promoted Michael Hartshorn to CFO, retaining his SVP title, effective Feb. 2. Hartshorn will be responsible for the accounting, treasury, financial planning, tax, risk management and investor relations functions.

Ross Stores has promoted Michael Hartshorn to CFO, retaining his SVP title, effective Feb. 2. Hartshorn will be responsible for the accounting, treasury, financial planning, tax, risk management and investor relations functions.  

As CFO, he will continue to report to John Call, group SVP, finance and legal, and corporate secretary.

November 22, 2013

Apprehension regarding shoppers’ willingness to spend during the shortened holiday season has reached the point where even retailers presumably well positioned to benefit from frugality are sounding alarms.

Apprehension regarding shoppers’ willingness to spend during the shortened holiday season has reached the point where even retailers presumably well positioned to benefit from frugality are sounding alarms.

The most recent is Ross Stores vice chairman and CEO Michael Balmuth who shared his concerns about the fourth quarter even as the operator of 1,154 stores reported third quarter sales that were in line with expectations and profits that exceeded guidance due to margin expansion.

March 21, 2013

Off price retailer Ross Stores achieved record fourth quarter sales and earnings and expects to deliver more of the same in 2013 thanks to an unwavering commitment to offering great bargains.

Off price retailer Ross Stores achieved record fourth quarter sales and earnings and expects to deliver more of the same in 2013 thanks to an unwavering commitment to offering great bargains.

Sales for the 14 week fourth quarter ended February 2, increased 15% to $2.76 billion when compared to the prior year’s 13 week fourth quarter. Same store sales advanced 5% on top of a prior year gain of 7%. Earnings per share for the period increased to $1.07 from 85 cents last year and net income grew to $236.6 million from $192 million.

November 29, 2012

TJX Companies reported a 3% comp increase on top of a prior year gain of 4% while Ross Stores said posted a comp increase of 2% compared to last November’s 5% comp increase.

TJX Companies reported a 3% comp increase on top of a prior year gain of 4% while Ross Stores said posted a comp increase of 2% compared to last November’s 5% comp increase.

Total sales at TJX increased 7% to $2.2 billion during the November reporting period and so far this year sales at the company have advanced 10% to $20.3 billion. Total sales for November at Ross increased 6% to $813 million and so far this year are up 11% to nearly $7.8 billion.

November 16, 2012

Value never goes out of style during the holiday’s and Ross Stores is well positioned to capitalize on this most enduring of seasonal behaviors.

Value never goes out of style during the holiday’s and Ross Stores is well positioned to capitalize on this most enduring of seasonal behaviors.

August 30, 2012

Ross Stores and The TJX companies both reported a better-than-expected 8% same store sales increase during August.

Ross Stores and The TJX companies both reported a better-than-expected 8% same store sales increase during August.
 
Shoppers continued to beat a path to Ross and TJX stores during August where exceptionally strong sales suggest consumers are unrelenting in their search for value amid protracted economic weakness.
 
August 18, 2011

Ross Stores continues to deliver impressive earnings results, reporting net income of $148.3 million, or $1.28 per share for the second quarter ended July 30, compared with net income of $129.3 million, or $1.07 per share, for the same period last year.

PLEASANTON, Calif. — Ross Stores continues to deliver impressive earnings results, reporting net income of $148.3 million, or $1.28 per share for the second quarter ended July 30, compared with net income of $129.3 million, or $1.07 per share, for the same period last year. 

The company reported that sales for the quarter increased 9% to $2.089 billion, with comparable-store sales up 5% on top of a 4% gain in 2010.

May 19, 2010

Ross Stores reported earnings per share for the 13 weeks ended May 1 of $1.16,...