Ross Stores Inc (NASDAQ:ROST) reported financial results for the fourth quarter after the closing bell on Tuesday. Here’s a look at the key details from the print.
- Ross Stores stock is approaching key resistance levels. Why are ROST shares at highs?
Ross Stores Tops Estimates In Q4
Ross Stores beat estimates on the top and bottom lines in the fourth quarter, reporting revenue of $6.64 billion versus estimates of $6.41 billion and earnings per share of $2 versus estimates of $1.89, per Benzinga Pro.
Total revenue increased 12% year-over-year in the quarter as comparable store sales climbed 9%.
“We are pleased to report that business momentum accelerated further in the fourth quarter, with both sales and earnings significantly surpassing our expectations,” said Jim Conroy, CEO of Ross Stores.
“Throughout the holiday season, we delivered compelling merchandise assortments to our stores, benefited from higher customer engagement through our new marketing campaigns, and executed in‑store initiatives that enhanced the customer experience.”
Ross Stores expects first-quarter earnings per share to be in the range of $1.60 to $1.67 versus estimates of $1.62. The company sees full-year earnings per share between $7.02 and $7.36 versus estimates of $7.17.
ROST Shares Rise After Hours
ROST Price Action: Ross Stores shares were up 6.26% in after-hours, trading at $210.02 at the time of publication on Tuesday, according to Benzinga Pro.
Image: Shutterstock.com
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