Ross Stores, Inc. (ROST) just released its third quarter 2017 financial results, posting earnings of $0.72 per share and revenues of $3.33 billion. Currently, Ross Stores is a Zacks Rank #2 (Buy) and is up over 6% to $69.91 per share in after-hours trading shortly after its earnings report was released.
Ross Stores, Inc:
Beat earnings estimates. The company posted earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.67 per share.
Beat revenue estimates. The company saw revenue figures of $3.33 billion, topping our consensus estimate of $3.27 billion.
Ross Stores third-quarter earnings popped 16% year-over year, while the company’s sales jumped 8%. The discount giant’s comparable store sales rose 4% from the year-ago period. The company’s net earnings surged from $245 million to $274 million.
Based on its successful quarter, Ross Stores raised its fourth-quarter guidance. The company now expects to post a year-over-year sales increase between 2% and 3%. Ross Stores also projects it will post Q4 EPS in the range of $0.88 to $0.92.
“Our third quarter sales and earnings outperformed our expectations despite being up against our toughest prior year comparisons and two major hurricanes during the quarter,” CEO Barbara Rentler said in a statement.
“We are pleased with these strong results, which reflect our continued market share gains in a challenging retail environment. Operating margin of 13.3% was better-than-expected, mainly due to a combination of higher merchandise margin and leverage on above-plan sales.”
Here’s a graph that looks at Ross Stores’ Price, Consensus and EPS Surprise history:
Ross Stores, Inc. is headquartered in Dublin, California and operates Ross Dress for Less, one of the largest off-price apparel and home fashion chains in the United States—with 1,384 locations. Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions.
Check back later for our full analysis on Ross Stores’ earnings report!
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Ross Stores (ROST) Stock Climbs On Q3 Earnings & Revenue Beats
Ross Stores, Inc. (ROST) just released its third quarter 2017 financial results, posting earnings of $0.72 per share and revenues of $3.33 billion. Currently, Ross Stores is a Zacks Rank #2 (Buy) and is up over 6% to $69.91 per share in after-hours trading shortly after its earnings report was released.
Ross Stores, Inc:
Beat earnings estimates. The company posted earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.67 per share.
Beat revenue estimates. The company saw revenue figures of $3.33 billion, topping our consensus estimate of $3.27 billion.
Ross Stores third-quarter earnings popped 16% year-over year, while the company’s sales jumped 8%. The discount giant’s comparable store sales rose 4% from the year-ago period. The company’s net earnings surged from $245 million to $274 million.
Based on its successful quarter, Ross Stores raised its fourth-quarter guidance. The company now expects to post a year-over-year sales increase between 2% and 3%. Ross Stores also projects it will post Q4 EPS in the range of $0.88 to $0.92.
“Our third quarter sales and earnings outperformed our expectations despite being up against our toughest prior year comparisons and two major hurricanes during the quarter,” CEO Barbara Rentler said in a statement.
“We are pleased with these strong results, which reflect our continued market share gains in a challenging retail environment. Operating margin of 13.3% was better-than-expected, mainly due to a combination of higher merchandise margin and leverage on above-plan sales.”
Here’s a graph that looks at Ross Stores’ Price, Consensus and EPS Surprise history:
Ross Stores, Inc. Price, Consensus and EPS Surprise
Ross Stores, Inc. Price, Consensus and EPS Surprise | Ross Stores, Inc. Quote
Ross Stores, Inc. is headquartered in Dublin, California and operates Ross Dress for Less, one of the largest off-price apparel and home fashion chains in the United States—with 1,384 locations. Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions.
Check back later for our full analysis on Ross Stores’ earnings report!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>