Ross Stores (ROST) Stock Climbs On Q3 Earnings & Revenue Beats

By Zacks Investment ResearchStock MarketsNov 16, 2017 05:28AM ET

www.investing.com/analysis/ross-stores-rost-stock-climbs-on-q3-earnings--revenue-beats-200265977

Ross Stores (ROST) Stock Climbs On Q3 Earnings & Revenue Beats

By Zacks Investment Research | Nov 16, 2017 05:28AM ET

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Ross Stores, Inc. (NASDAQ: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!

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Ross Stores (ROST) Stock Climbs On Q3 Earnings & Revenue Beats

Ross Stores, Inc. Price, Consensus and EPS Surprise

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