Ross Same-Store Sales Beat Expectations

Same-store sales, or sales at stores open at least a year, is a key measure of retailer performance, because it measures growth at existing stores rather than from newly opened ones.

Ross had expected the figure to decline of 4 percent to 5 percent. Analysts projected a 4.3 percent drop, according to Thomson Financial.

For the five weeks ended April 5, total sales rose 6 percent to $633 million from $599 million last year.

Ross said "favorable margin and expense trends for the first two months" and an expected 7 percent to 8 percent boost in April same-store sales prompted the company to raise its first-quarter earnings target.

The company now expects to earn 56 cents to 58 cents per share in the quarter ending April 30, up from a previous target of 52 cents to 54 cents per share. Wall Street expects profit of 53 cents per share.