Ross Stores Reports First Quarter Earnings
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Ross Stores (ROST) Tops Q1 EPS by 46c, Revenues Beat; Offers 2Q EPS Guidance Below Consensus, Announces $1.5B Share Buyback
May 20, 2021 4:04 PM EDTRoss Stores (NASDAQ: ROST) reported Q1 EPS of $1.34, $0.46 better than the analyst estimate of $0.88. Revenue for the quarter came in at $4.51 billion versus the consensus estimate of $3.87 billion.
Barbara Rentler, Chief Executive Officer, commented, First quarter sales significantly exceeded our expectations as we benefited considerably from a combination of government stimulus payments, ongoing vaccine rollouts, easing of COVID restrictions, and pent-up consumer demand. In addition, customers responded enthusiastically to the broad assortment of great bargains we offered throughout our stores. Operating margin of 14.2% was well above plan and slightly above 2019 as leverage from... More
