Ross Stores $ROST has released its quarterly earnings. Revenue of $5.07B (+2.96% YoY) misses by $75M. EPS of $1.48 (+11.28% YoY) beats by $0.08.
$ROST (+7.1% pre) Ross Stores Lifts Annual Profit Forecast on Lower Costs, Shares Rise - US News https://t.co/A1j8VvyuAG
Ross Stores’ Sales Disappointed. Why the Stock Is Up. https://t.co/QI41dwryFB
Ross Stores, Inc. reported its Q3 FY24 earnings, revealing a revenue of $5.07 billion, which fell short of analysts' expectations by $75 million. The company's earnings per share (EPS) stood at $1.48, surpassing estimates of $1.40 and reflecting an 11% increase year-over-year. Despite the revenue miss, Ross Stores announced an improved operating margin of 11.9%, up 0.7% from the previous year. The company also reported a net income of $488.81 million and a 1% increase in comparable store sales year-over-year. Following the earnings announcement, Ross Stores lifted its annual profit forecast, attributing the positive outlook to lower costs. The company's shares rose by 7.2% in post-market trading, reaching $153.34.
