Ross Stores (ROST) Tops Q2 EPS by 5c, Beats on Revenues; Boosts FY18 EPS Guidance

Ross Stores (NASDAQ: ROST) reported Q2 EPS of $0.82, $0.05 better than the analyst estimate of $0.77. Revenue for the quarter came in at $3.43 billion versus the consensus estimate of $3.37 billion.

Looking ahead, Ms. Rentler said, “For the third quarter ending October 28, 2017, we are forecasting a same store sales gain of 1% to 2% on top of a robust 7% increase in the prior year. Earnings per share for the period are projected to be $.64 to $.67, up from $.62 in last year’s third quarter. For the fourth quarter ending February 3, 2018, we are also forecasting same store sales to grow 1% to 2% versus a strong 4% increase last year, with earnings per share expected to be $.88 to $.92, up from $.77 in the 2016 fourth quarter. Based on our first half results and second half guidance, fiscal 2017 earnings per share for the 53 weeks ending February 3, 2018 are now planned to increase 12% to 14% to $3.16 to $3.23, on top of a 13% gain last year. As a reminder, both our fourth quarter and full year guidance include an approximate $.08 benefit from the 53rd week in fiscal 2017.”

GUIDANCE:

Ross Stores sees FY2017 EPS of $3.16-$3.23, versus the consensus of $3.16.

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

You May Also Be Interested In

• AbbVie updates 2026 EPS guidance after $291M IPR&D charge
• Retail investors largely unaware of SEC semiannual reporting proposal
• Morgan Stanley turns cautious on freight stocks despite stronger cycle outlook