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Ross Stores tears a big hole in election anxiety theory in retail

Published 11/18/2016, 09:10 AM
Ross Stores tears a big hole in election anxiety theory in retail
ROST
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  • Comparable sales rose 7% for Ross Stores (NASDAQ:ROST) in Q3. The solid mark stacks up nicely against peers and coincides with a period for which some retail execs claimed election anxiety weighed down consumer spending.
  • Ross didn't say anything about a stressed-out consumer. "We are very pleased with our better-than-expected sales and earnings growth in the third quarter as customers responded favorably to the compelling values we offered throughout our stores," noted CEO Barbara Rentler.
  • Operating margin during the quarter rose 55 bps to 12.6% of sales.
  • ROST +3.77% premarket to $68.00. Shares are up 22% YTD and are likely to open at a 52-wwek high.
  • Previously: Ross Stores beats by $0.06, beats on revenue (Nov. 17)


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