Ross Stores Inc (NASDAQ:ROST) reported second-quarter financial results after the market close on Thursday. Here’s a rundown of the specialty retailer’s report.
- Ross Stores stock is rising. Where is ROST stock going?
Ross Stores Beats Q2 Estimates
Ross Stores beat estimates on the top and bottom lines in the second quarter, reporting revenue of approximately $6.27 billion versus estimates of $6.18 billion and earnings per share of $2.66 versus estimates of $1.94, according to Benzinga Pro.
Total revenue increased 13% year-over-year in the quarter as comparable store sales climbed 10%, primarily driven by customer traffic.
“Importantly, that growth was supported by both an increase in new customers and higher engagement from existing customers,” said Jim Conroy, CEO of Ross Stores.
“Our performance was fueled by our compelling merchandise offerings, engaging marketing initiatives, and continued enhancements to the in-store experience. We were pleased to see strength throughout the quarter.”
Ross Stores raised its full-year earnings per share guidance from a range of $7.50 to $7.74 to a new range of $8.61 to $8.77 versus estimates of $7.79. The company guided for third-quarter earnings per share of $1.75 to $1.83 and fourth-quarter earnings of $2.17 to $2.26. Both quarterly guidance ranges are above current analyst expectations.
Ross Stores said it repurchased 1.4 million shares for $319 million in the second quarter. The company remains on track to repurchase $1.275 billion of its common stock in fiscal 2026.
ROST Shares Rise After Earnings
ROST Price Action: Ross Stores shares were up 4.20% in after-hours, trading at $238.60 at the time of publication on Thursday, according to Benzinga Pro.
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