Leading off-price retailer Ross Stores (ROST Quick QuoteROST - Free Report) is set to report first-quarter earnings results on Thursday after the closing bell. A Zacks Rank #2 (Buy), Ross surpassed the earnings mark in each of the past four quarters. With the stock in a sustained uptrend, is ROST a buy ahead of the release?

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Analysts are expecting the company to post earnings of $1.70 per share, reflecting outsized growth of 15.7% versus the same quarter last year. Sales are projected to have increased nearly 12% to $5.6 billion during the quarter.

Ross Stores delivered a trailing four-quarter average earnings surprise of 6.2%. The discount retailer continues to draw value-conscious shoppers with competitive bargains. The company is also progressing well on store expansion plans.

ROST shares are up roughly 18% year-to-date and are outperforming the major indexes. Our proprietary Earnings ESP indicator predicts another beat for the upcoming announcement.