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Ross Stores Shares Climb After-Hours as Earnings Beat Estimates

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Luzi Ann Santos joined discussion · May 23 15:14
$Ross Stores (ROST.US)$ 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.
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Luzi Ann Santos
Moomoo Senior News and Community Manager
Former editor at Bloomberg, ex-commentary editor at Lazard. Posts aren’t investment advice. Views are just mine.
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