ROST May 2024 140.000 call
- Yahoo Finance Video
Ross Stores boosts full-year earnings forecast, stock pops
Ross Stores (ROST) posted better-than-expected first quarter earnings and raised its full-year earnings guidance. For Q1, the discount retailer posted earnings per share of $1.46 compared to a $1.35 estimate. Revenue of $4.86 billion was about in line with Wall Street expectations of $4.82 billion. Ross Stores also raised its full-year earnings forecast to a range of $5.79 to $5.98 per share, up from $5.64 to $5.89. However, in the release, CEO Barbara Rentler says, “Ongoing uncertainty in today’s macroeconomic and geopolitical environments, including prolonged inflation, continue to squeeze our low-to-moderate income customers’ purchasing power." Yahoo Finance's Julie Hyman and Josh Lipton break down the results. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Stephanie Mikulich.
- StockStory
Why Is Ross Stores (ROST) Stock Soaring Today
Shares of off-price retail company Ross Stores (NASDAQ:ROST) jumped 9.2% in the morning session after the company reported first-quarter results that beat analysts' gross margin expectations, which led to operating profit and EPS beats. Adding to the positive aspect, revenue came in slightly ahead of analysts' expectations due to an increase in traffic. This suggests healthy demand from its consumer base despite some of the macro concerns raised by some of the retailers that have reported earnin
- Barrons.com
Ross Stores Stock Pops on Strong Earnings. Lower Costs Helped.
The discount retailer easily beat quarterly estimates for earnings and sales and lifted its full-year financial forecast.
