Consumer Discretionary

Ross Stores (NASDAQ:ROST) : Raising 2H Sales and Earnings Outlook, Now Planning Comparable-Store Sales for Third and Fourth Quarters of 2023 to Be Up 2% to 3% and Up 1% to 2%, Respectively.

Ross Stores (ROST) reported fiscal Q2 earnings  of $1.32 per diluted share, up from $1.11 a year earlier. Analysts polled by Capital IQ expected $1.16. Sales for the quarter ended July 29 were $4.93 billion, up from $4.58 billion a year earlier. Analysts surveyed by Capital IQ expected $4.75 billion. The off-price retailer’s fiscal Q2 comparable sales were up 5%. Analysts polled by Capital IQ called for an increase of 0.9%. Ross Stores said it expects fiscal Q3 EPS of $1.16 to $1.21 and comparable sales to be up 2% to 3%. Analysts polled by Capital IQ are looking for EPS of $1.16 and comparable sales growth of 0.8%. The company also said it now expects fiscal full-year EPS of $5.15 to $5.26. That compares with $4.77 to $4.99 previously. Comparable sales for the fiscal year are now projected to be up 2% to 3%, the company said. The company