Ross Stores (NASDAQ:ROST) shares rose more than 8% pre-market today after the company reported first-quarter earnings per share (EPS) of $1.46, surpassing the analyst consensus of $1.35. The discount retailer's revenue climbed to $4.86 billion, slightly above the $4.83 billion estimate and marking an 8% increase from $4.5 billion in the same quarter last year. Comparable store sales rose by a healthy 3%.

CEO Barbara Rentler attributed the strong earnings to lower expenses and effective navigation of macroeconomic challenges affecting customer spending.

Looking ahead, Ross Stores expects a 2% to 3% increase in comparable store sales for the second quarter. The company projects second-quarter EPS to range between $1.43 and $1.49, aligning closely with the Street estimate of $1.45.

For the full fiscal year 2025, Ross Stores forecasts EPS between $5.79 and $5.98, with the midpoint of $5.885 slightly below the Street consensus of $5.92.