Ross Stores IncROST
▲ PositiveCapitalrelevance
Q2 revenue and EPS beat estimates, and full-year EPS guidance raised.
Impact on stocks 1
Consumer Discretionary
Ross Stores IncRoss Stores Q2 Beats Estimates, Analysts Probe Growth Drivers
Earnings
Ross Stores delivered a robust second quarter, with revenue of $6.26 billion beating analyst estimates of $6.15 billion, and GAAP EPS of $2.66 surpassing the expected $1.95. The company raised its full-year EPS guidance to $8.69 at the midpoint, 10.8% above analyst expectations, as same-store sales rose 10% year over year. During the earnings call, analysts from JPMorgan, Bank of America, Evercore ISI, Wells Fargo, and Retail Tracker questioned management on sustaining momentum, margin trends, and marketing effectiveness. CEO James Conroy cited strong customer traffic and early-stage initiatives, while Group President Michael Hartshorn noted it is too early to update the long-term growth algorithm. The company ended the quarter with 2,328 locations, up from 2,233 a year earlier, and its stock traded at $234.14, up from $228.99 before the earnings release.
Ross Stores IncQ2 revenue and EPS beat estimates, and full-year EPS guidance raised.