Ross Stores Shares Climb After-Hours as Earnings Beat Estimates
$Ross Stores(ROST.US$ shares climbed in after-hours trading Thursday as the off-price apparel and home goods retailer reported earnings for its fiscal first quarter that beat analysts' estimates.
The company said earnings in the three months ended May 4 rose to $1.46 a share, from $1.09 a year earlier. The average of analysts' estimates compiled by Bloomberg called for $1.35 in earnings per share.
Earnings per share for the second quarter are projected to be in the range of $1.43 to $1.49, up from reported earnings per share of $1.32 for the prior year period ended July 29, 2023, Chief Executive Officer Barbara Rentler said in the company's earnings release Thursday after the market closed.
For the fiscal year ending on Feb. 1, 2025, Ross sees EPS rising to a range of $5.79 and $5.98, from $5.56 in the year ended Feb. 3, 2024. The midpoint of that range is lower than the $5.95 expected by analysts, according to the average of estimates compiled by Bloomberg.
“Ongoing uncertainty in today’s macroeconomic and geopolitical environments, including prolonged inflation, continue to squeeze our low-to-moderate income customers’ purchasing power," Rentler said. "As a result, we believe it is more important than ever to offer our customers the best branded values possible."
Store count was at 2,127, up from 2,034 a year ago, the company said in its earnings release. That's higher than the 2,125 expected by analysts polled by Bloomberg.
She also said Ross Stores will continue to manage inventory and expenses tightly in order to maximize sales and earnings growth over the balance of the year.
The CEO expects comparable store sales to rise 2% to 3% on top of a 5% gain in the second quarter of last year.
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See thislinkfor more information.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moomoo Senior News and Community Manager
Former editor at Bloomberg, then Lazard Asset Management. Posts aren’t investment advice. Views are just mine.
2793Followers
12Following
6446Visitors
Follow
Popeye the sailor : energy sector bullish
🫏
BearB : Good luck
151820638 : Please pay attention to the Australian listed company DRO! This is a typical AI ten military industry! AI ten military industries will surely be the outlet for wealth
Win the losing game : I can agree w this
mooomoney : what do you predict q3 revenues will look like?
Ehsan230 mooomoney: