Ross Stores reported first-quarter fiscal 2025 earnings with revenue of $5.0 billion, up 2.6% year-over-year, and adjusted earnings per share of $1.47, slightly above expectations. Net income was $479 million, down from $488 million in the prior year. Comparable sales and operating margin were both flat, with the operating margin at 12.2%. The company generated $410 million in free cash flow and repurchased $263 million in shares. Despite meeting or exceeding most analyst estimates for the quarter, Ross Stores withdrew its full-year sales and earnings guidance due to uncertainty from elevated tariffs on Chinese imports, which impact more than half of its products. The company cited ongoing trade tensions and the potential for tariffs to pressure future profits. For the second quarter, Ross Stores guided for flat to 3% growth in comparable sales and projected earnings per share between $1.40 and $1.55, compared to $1.59 in the prior year. The withdrawal of full-year guidance and cautious outlook led to a premarket decline of 13.40% in the company's stock price. Deckers Outdoor reported quarterly revenue of $1.02 billion and adjusted EPS of $1.00, both above analyst expectations. Net income was $151.4 million and operating income was $173.9 million. However, the company issued a weak outlook for the upcoming quarter, forecasting sales between $890 million and $910 million, below consensus estimates. Deckers cited slowing sales of its Hoka brand and ongoing tariff concerns as key challenges. Deckers declined to provide full-year guidance amid macro uncertainty related to global trade policies. The disappointing outlook and concerns over trade tensions led to a premarket drop of 18.96% in Deckers' stock price. Several analysts cut price targets by more than 50% and downgraded the stock following the results. Other major stocks, such as Tesla, Intuit, and Autodesk, moved higher in premarket trading. Looking ahead, investors are focusing on upcoming earnings reports from companies including Nvidia, Costco, Dell, and Salesforce, as well as key economic data releases.