Her father retired as a buyer in Manhattan for the Ross Stores, a discount clothing chain.

Still, Ross Stores, an off-price apparel retailer that has a heavy presence in California, reported sales gains of 5 percent.

Ross Stores was trading at $18.875 last January, and closed yesterday in Nasdaq trading at $50.375.

Ross Stores' typical shopper, analysts say, is a working mother who is looking for quality low-priced goods for her family.

The venture fund is most known for investing in specialty retailers such as Ross Stores.

Ross Stores, for example, said sales rose only 2 percent, while Value City saw sales fall 1.8 percent.

In 2005, Ross Stores announced plans to open a store in the vacant Albertsons store.

Ross Stores, a discounter, reported an 11 percent increase, while Filene's Basement lost 1 percent.

Retail looks good now because it's been hard hit, he said, and he is buying shares of Ross Stores in San Francisco.

Ross Stores, an off-price apparel retailer, reported gains of 14 percent.