Ross Stores (ROST) Tops Q2 EPS by 4c

Ross Stores (NASDAQ: ROST) reported Q2 EPS of $0.71, $0.04 better than the analyst estimate of $0.67. Revenue for the quarter came in at $3.18 billion versus the consensus estimate of $3.13 billion.

Comps increased 4%.

GUIDANCE:

Ross Stores sees Q3 2016 EPS of $0.52-$0.55, versus the consensus of $0.57.

Ross Stores sees FY2016 EPS of $2.69-$2.75, versus the consensus of $2.71.

Looking ahead, Ms. Rentler said, "For the third quarter ending October 29, 2016, we are forecasting a same store sales gain of 1% to 2% on top of a 3% increase in the prior year, and earnings per share of $.52 to $.55, compared to $.53 in last year's third quarter. For the fourth quarter ending January 28, 2017, we are also projecting same store sales to grow 1% to 2% versus a 4% increase last year, with earnings per share expected to be $.73 to $.76, up from $.66 in the 2015 fourth quarter. Based on our first half results and second half guidance, fiscal 2016 earnings per share are now planned to increase 7% to 10% to $2.69 to $2.75, on top of a 14% gain last year."

For earnings history and earnings-related data on Ross Stores (ROST) click here.

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