Log in to your IBTimes Account

close
ID
Password

Shares of Ross Stores touch all-time high



By AP
25 June 2008 @ 02:41 pm EST

NEW YORK - Shares of discount apparel retailer Ross Stores Inc. touched an all-time high Wednesday as stocks on Wall Street rose partly on a decline in oil prices.

Related Topic

Get stories by e-mail on this topic.

E-mail:
Quotes
ROST 30.38 -1.97

SYMBOL LOOKUP

The stock advanced 43 cents to $37.50 after hitting $38.70 earlier in the session.

Earlier this month, Ross said same-store sales rose 7 percent in May, beating analyst expectations.

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

Elsewhere on Wall Street, the Federal Reserve decided to leave a key interest rate unchanged.

Also, oil prices declined following news from the Energy Department that U.S. supplies of fuel and oil rose more than expected last week, suggesting that Americans are cutting their use of fuel.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

    Click!
  • Rate this article:

Comments

Post Your Comment

You must be an IBTimes member to post a comment. Login | Register


advertisement
More Industries
The government's new plan for rebuilding the deposit insurance fund at a time of banking turmoil would more than double the industry's average premiums n...
The former chief lawyer for UBS's investment bank has agreed to pay $6.5 million to settle an allegation that he dumped his investments in auction-rate s...
Higher sales at its gas stations and upscale stores helped boost grocer Safeway Inc.'s profit nearly 3 percent in its third fiscal quarter. The nation's ...

Advertisement
Corporate Website Design

Professional Website Design For Corporate - Get a Free Quote Today

advertisement
 
IBTimes.com Web
Partners
International Business Times© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives