By Chelsey Dulaney
Ross Stores Inc. said Tuesday that it will split its stock later
this year, a move the off-price retailer said reflects its recent
strong performance and optimism for the future.
The 2-for-1 split will be paid out as a 100% stock dividend on
June 11, the Dublin, Calif., company said.
Shares of Ross closed at $106.38 Monday, more than double their
level when Ross last enacted a 2-for-1 stock split in December
2011.
Last month, Ross reported January-quarter sales and earnings
well above its expectations, though the retailer said it remains
cautious about the current year because of the volatility in the
economic and retail climates.
Off-price chains have performed strongly in recent years despite
overall tepidness in the retail industry.
Macy's Inc. said earlier this year that it is thinking about
starting an off-price version of its stores, while retailers like
Saks Fifth Avenue and Nordstrom Inc. have also been opening more
outlet stores.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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