Ross Stores Earnings: Here’s Why Shares are Up Now
Ross Stores Inc. (NASDAQ:ROST) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.29%.
Ross Stores Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 15.05% to $1.07 in the quarter versus EPS of $0.93 in the year-earlier quarter.
Revenue: Rose 7.77% to $2.54 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ross Stores Inc. reported adjusted EPS income of $1.07 per share. By that measure, the company missed the mean analyst estimate of $1.07. It beat the average revenue estimate of $2.52 billion.
Quoting Management: Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, “We are pleased with the slightly better-than-expected sales and earnings we delivered in the first quarter, especially considering this growth was achieved on top of strong prior year gains. These results continued to be driven by our ongoing ability to offer terrific bargains to today’s value-oriented consumers.”
Key Stats (on next page)…