Core Insights - Ross Stores aims to attract customers and boost sales by providing value and a "treasure hunt environment" in its stores [1] - The company reported a 1% increase in comparable store sales for the quarter ending Nov. 2, and a 3% increase for the nine months ending Nov. 2 [2] - Ross Stores experienced a slowdown in sales growth due to high costs of necessities affecting discretionary spending, severe weather events, and unseasonably warm weather [3] Sales Performance - Comparable store sales growth is expected to be between 2% to 3% for the quarter ending Feb. 1, 2025 [4] - The company noted that certain key businesses, particularly those important during the holiday season, have shown strength [5] Operational Insights - Ross Stores' earnings exceeded expectations due to a higher operating margin and reduced costs related to incentives, freight, and distribution [3] - The company acknowledged execution issues in merchandising initiatives that may have impacted sales volume [4]

Core Viewpoint - Ross Stores, Inc. reported third-quarter results with an EPS of $1.48, surpassing the consensus of $1.40, while sales of $5.07 billion fell short of the expected $5.15 billion. The company provided fourth-quarter EPS guidance of $1.57 – $1.64, below the consensus of $1.67, and FY25 EPS guidance of $6.10 – $6.17, slightly above the street view of $6.14 [1]. Group 1: Analyst Ratings and Price Targets - BofA Securities analyst Lorraine Hutchinson reiterated a Buy rating with a price target of $180 [2]. - Telsey Advisory Group analyst Dana Telsey maintained a Market Perform rating with a price target of $175 [4]. - Guggenheim analyst Robert Drbul also maintained a Buy rating with a price target of $180 [7]. - BMO Capital Markets analyst Simeon Siegel kept an Outperform rating with a price target of $168 [11]. Group 2: Earnings and Guidance Analysis - The earnings beat was attributed to margin tailwinds, despite sales falling short due to unfavorable weather and product assortment issues [4]. - The fourth-quarter guidance reflects a timing shift in packaway expenses and the impact of last year's extra week, which contributed positively to EPS in the prior year [3]. - Management lowered its fourth-quarter EPS guidance but slightly raised the FY EPS high-end by $0.03, indicating a conservative outlook [12]. Group 3: Market Conditions and Consumer Behavior - The company continues to attract value-seeking customers, although macroeconomic uncertainty and price sensitivity among its core demographic pose challenges [6]. - Analysts expect Ross to maintain positive sales momentum during the holiday season, driven by gifting and seasonal items [9]. - The impact of persistent inflation on discretionary spending has led to a slight reduction in FY24 revenue forecasts [8]. Group 4: Future Projections - Analysts have adjusted EPS estimates for FY24, FY25, and FY26 to $6.19, $6.54, and $7.14, respectively, reflecting quarterly results and slight margin forecast updates [10]. - The appointment of a new CEO effective February 2025 is seen as an additional catalyst for the company [10].

Ross Stores ROST reported better-than-expected third-quarter EPS results on Thursday.Ross Stores reported quarterly earnings of $1.48 per share which beat the analyst consensus estimate of $1.40 per share. The company reported quarterly sales of $5.07 billion which missed the analyst consensus estimate of $5.15 billion.Barbara Rentler, Chief Executive Officer, commented, “We are disappointed with our third quarter sales results as business slowed from the solid gains we reported in the first half of 2024. A ...

U.S. stocks traded mostly higher midway through trading, with the Dow Jones index gaining by more than 250 points on Friday.The Dow traded up 0.59% to 44,128.84 while the NASDAQ rose 0.08% to 18,986.80. The S&P 500 also rose, gaining, 0.28% to 5,965.15.Check This Out: Top 3 Materials Stocks That Could Blast Off In NovemberLeading and Lagging SectorsConsumer staples shares rose by 1.5% on Friday.In trading on Friday, communication services shares fell by 0.6%.Top HeadlineRoss Stores ROST reported better-than ...

Ross Stores, Inc. (ROST) reported results for the third quarter of 2024, wherein the bottom line surpassed the Zacks Consensus Estimates, while the top line missed the same. Net sales and earnings increased from the year-ago period.The company faced challenges as its low-to-moderate-income customers grappled with persistently high living costs, limiting discretionary spending. Additionally, Hurricanes Helene and Milton, and unseasonably warm temperatures, negatively impacted comparable sales (comps). Despit ...

Key TakeawaysRoss Stores shares rose Friday morning as the company's third-quarter profits beat estimates despite sales falling short.CEO Barbara Rentler said the chain's customers "continue to face persistently high costs on necessities."Last month, the company announced that Boot Barn CEO James Conroy will take over as CEO once Rentler retires in February. Shares of Ross Stores (ROST) were up Friday morning as the discount retailer's earnings came in better than expected. The company reported $488.8 milli ...

Shares of Gap Inc (NYSE:GAP) and Ross Stores Inc (NASDAQ:ROST) are both making outsized moves, after the retail companies posted their quarterly results.Gap stock was last seen 8.2% higher at $23.84, after the retail name hiked its annual guidance for the third time in 2024. The company now expects fiscal 2024 sales to rise between 1.5% and 2%, well above analysts' 0.4% growth expectations. And while hurricanes and unseasonably warm weather dented sales, Gap beat third-quarter earnings per share and revenue ...

Ross Stores, Inc. (NASDAQ:ROST) Q3 2024 Earnings Conference Call November 21, 2024 4:15 PM ET Company Participants Barbara Rentler - Chief Executive Officer Adam Orvos - Executive Vice President and Chief Financial Officer Michael Hartshorn - President and Chief Operating Officer Conference Call Participants Matthew Boss - JPMorgan Chase & Co. Mark Altschwager - Robert W. Baird & Co. Paul Lejuez - Citigroup Inc. Lorraine Hutchinson - Bank of America Merrill Lynch Chuck Grom - Gordon Haskett Simeon Siegel - ...

For the quarter ended October 2024, Ross Stores (ROST) reported revenue of $5.07 billion, up 3% over the same period last year. EPS came in at $1.48, compared to $1.33 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $5.15 billion, representing a surprise of -1.56%. The company delivered an EPS surprise of +6.47%, with the consensus EPS estimate being $1.39.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

Ross Stores (ROST) came out with quarterly earnings of $1.48 per share, beating the Zacks Consensus Estimate of $1.39 per share. This compares to earnings of $1.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.47%. A quarter ago, it was expected that this discount retailer would post earnings of $1.49 per share when it actually produced earnings of $1.59, delivering a surprise of 6.71%.Over the last four quarters, the comp ...