FMP
Ross Stores Shares Surge 8% Following Q1 Beat
May 24, 2024 10:21 AM - Davit Kirakosyan
Image credit: FMP
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.
Other Blogs
Jan 16, 2024 4:18 PM - Samuel Abdelshahid
Budget-Friendly Trading Laptops: Maximizing Value without Compromising Performance
In the hustle and bustle of the trading world, having a trustworthy laptop is like having a reliable partner by your side. Making well-informed decisions and staying ahead of market trends become second nature with the right device. However, the quest for a budget-friendly trading laptop t...
Jan 21, 2024 4:00 AM - Parth Sanghvi
Understanding Profitability Metrics: Exploring ROE, ROA, and Net Profit Margin
Introduction: In the world of financial analysis, a profound grasp of essential profitability metrics is vital. This blog delves into three pivotal metrics—ROE (Return on Equity), ROA (Return on Assets), and Net Profit Margin—offering clear insights without unnecessary complexity. Exploring RO...
May 14, 2024 11:41 AM - Sanzhi Kobzhan
The easiest way to calculate stock’s target price and why the target price is important.
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...
