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Good afternoon, and welcome to the Ross Stores First Quarter 2014 Earnings Release Conference Call. The call will begin with prepared remarks by management, followed by a question-and-answer session.
We think Ross is perfectly positioned to gain market share with its brand-name merchandise at a discount.
Top managers continue to exercise a lot of patience as they look for buying opportunities in a U.S. equity market that has risen close to 40% since the start of 2013.