Ross Stores profit rises 15% in Q2

Pleasanton, Calif. -- Ross Stores reported Thursday that profit for the quarter ended July 31 rose 15% to $148.3 million, compared with $129.3 million a year earlier. Sales for the quarter increased 9% to $2.1 billion, and same-store sales rose 5%. “Our ability to increase the percentage of fresh name brand bargains our customers see, while also strictly controlling inventories and expenses, has enabled us to capitalize on our favorable position as a value retailer," said Michael Balmuth, vice chairman and CEO.