Ross Stores Inc (NASDAQ:ROST) on Thursday reported better-than-expected first-quarter financial results and raised its FY26 GAAP EPS guidance above estimates.
Ross Stores reported quarterly earnings of $2.02 per share which beat the analyst consensus estimate of $1.68 per share. The company reported quarterly sales of $6.010 billion which beat the analyst consensus estimate of $5.567 billion.
Ross Stores raised its FY2026 GAAP EPS guidance from $7.02-$7.36 to $7.50-$7.74.
Jim Conroy, Chief Executive Officer, commented, “We achieved outstanding sales and earnings results in the first quarter with superb execution throughout the business, especially the transition of our Spring assortment. Momentum was solid throughout the quarter, with broad-based strength across the business. Customer traffic was the primary driver of the strong sales trend as compelling merchandise assortments, higher customer acquisition and engagement from our ongoing marketing initiatives, and an improved in‑store experience are resonating with shoppers. We believe our results also benefited from higher consumer spending related to tax refunds.”
Ross Stores shares gained 7.4% to trade at $233.17 on Friday.
These analysts made changes to their price targets on Ross Stores following earnings announcement.
- Citigroup analyst Paul Lejuez maintained Ross Stores with a Buy and raised the price target from $261 to $270.
- UBS analyst Jay Sole maintained the stock with a Neutral and raised the price target from $227 to $232.
- Truist Securities analyst Joseph Civello maintained Ross Stores with a Buy and raised the price target from $270 to $290.
- Wells Fargo analyst Ike Boruchow maintained Ross Stores with an Overweight rating and raised the price target from $235 to $245.
Considering buying ROST stock? Here’s what analysts think:
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