Ross Stores

We maintain our 12-month price target of $138, based on 23.0x our FY 25 (Jan.) EPS estimate and slightly lower than the company’s 5-year average forward P/E multiple of 23.9x. We maintain our FY 25 and FY 26 EPS estimates of $6.00 and $6.40, respectively. ROST posts normalized Q1 EPS of $1.46 vs. $1.09, $0.11 above consensus estimates on revenues of $4.86B vs. $4.50B and $32M above estimates. Comparable store sales increased 3% Y/Y while total revenues increased 8%. Management said that Accessories and Children were the best-selling categories while California and the Pacific Northwest were the strongest regions. The company also stated that dd’s Discounts outperformed Ross as customers responded well to better value. Inventory was up 10% Y/Y with average store inventory up 4% and in line with sales growth. ROST guided for comp store sales up 2% to 3% and EPS of $5.98 at the high point. […]

Shares of Ross Stores were trading sharply higher Friday after the discount retailer easily beat quarterly estimates and lifted guidance. Late Thursday, Ross posted earnings per share of $1.46 for its fiscal first quarter, beating Wall Street’s call for $1.35, according to FactSet. Sales of $4.86 billion topped the consensus call for $4.83 billion. Same-store sales ticked 3% higher. Ross stock was up 6.8% to $140.80 in premarket trading Friday, while futures tracking the S&P 500 edged 0.3% higher. “Though we had hoped to do better, first quarter sales were in line with guidance despite macroeconomic headwinds that continued to pressure our customers’ discretionary spending,” CEO Barbara Rentler said in the earnings release. “Earnings results for the period were better-than-expected primarily due to lower expenses relative to our plan.” For its fiscal second quarter, the company expects same-store sales to rise 2% to 3% and is calling for earnings per

Ross Stores Inc: Earnings per Share for Q2 Are Projected to Be in Range of $1.43 to $1.49

Ross Stores Inc: Earnings per Share for 2024 Fiscal Year Now Projected to Be in Range of $5.79 to $5.98.

Ross Stores (ROST) reported fiscal Q1 earnings late Thursday of $1.46 per diluted share, up from $1.09 a year earlier. Analysts polled by Capital IQ expected $1.36. Sales for the quarter ended May 4 totaled $4.86 billion, up from $4.49 billion a year earlier. Analysts surveyed by Capital IQ expected $4.83 billion. Ross Stores said it expects fiscal Q2 EPS of $1.43 to $1.49 on comparable store sales growth of 2% to 3%. Analysts polled by Capital IQ are looking for EPS of $1.47 and comparable sales growth of 3%. The company now expects fiscal 2025 EPS of $5.79 to $5.98, compared with $5.64 to $5.89 previously. Analysts are expecting EPS of $5.94. Comparable store sales guidance for the 52 weeks ending Feb. 1, 2025 remain unchanged at up 2% to 3%. Shares of Ross Stores were up over 6% in recent after-hours activity.

TARGETING APPROXIMATELY 90 OPENINGS IN 2024 DUBLIN, Calif., March 11, 2024 /PRNewswire/ — Ross Stores, Inc. opened 11 Ross Dress for Less (“Ross”) and seven dd’s DISCOUNTS stores in 11 different states in February and March. These new locations are part of the Company’s plans to add approximately 90 new stores, comprised of about 75 Ross and 15 dd’s DISCOUNTS, during fiscal 2024. “This Spring, we continued to expand the store base of both Ross and dd’s. Specifically for Ross, we expanded our presence in the newer markets of Michigan and New York, while dd’s growth primarily focused on existing markets of California, Florida, and Texas,” said Gregg McGillis, Group Executive Vice President, Property Development. “We now operate a total of 2,127 Ross Dress for Less and dd’s DISCOUNTS locations across 43 states, the District of Columbia, and Guam. As we look out over the long term, we remain confident

Ross Stores (ROST) better-than-expected fiscal Q4 earnings were due to topline and GM outperformance, Morgan Stanley said in a note to clients Wednesday. The EPS beat was partially offset by rising selling, general and administrative costs, however, the report added. Highlights of the quarter included underlying sales growth, current apparel category underperformance, fiscal Q4 GM reaching the highest level since 2017, and reducing the gap to its pre-Covid profitability levels, the report said. The off-price apparel and home fashion chain reported fiscal Q4 earnings late Tuesday of $1.82 per diluted share and sales of $6.02 billion for the quarter ended Feb. 3. Morgan Stanley raised Ross Stores’ price target to $161 from $155 and maintained its overweight rating on the stock.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month price target by $14 to $138, based on 23.0x our FY 25 (Jan.) EPS estimate and slightly lower than the company’s 5-year average forward P/E multiple of 23.8x. We raise our FY 25 EPS estimate by $0.50 to $6.00 and initiate our FY 26 EPS estimate at $6.40. ROST posts normalized Q4 EPS of $1.82 vs. $1.31, $0.17 above consensus estimates on revenues of $6.02B vs. $5.21B and $208M above estimates. ROST said Q4 revenues and EPS benefitted by $308M and $0.20, respectively, due to the 53rd week in the FY. Q4 operating margin expanded by 165 bps Y/Y to 12.4% due to strong gains in same-store sales and lower freight costs. The company’s board approved a new $2.1B share repurchase program and

The following is a summary of the Ross Stores, Inc. (ROST) Q4 2023 Earnings Call Transcript: Financial Performance: Ross Stores exceeded Q4 predictions, with earnings per share rising to $1.82, a significant leap from the previous year’s $1.31. The company saw Q4 2023 sales climb to $6 billion, boosted by a 7% increase in comparable store sales. Net income for fiscal year 2023 rose to $1.9 billion from $1.5 billion recorded in the previous year, whilst earnings per share increased to $5.56 from $4.38. The 2023 fiscal year results included a beneficial $308 million and an additional $0.20 per share due to the 53rd week. Q4 saw an operating margin increase of approximately 165 basis points to 12.4%. The company repurchased 1.9 million shares of common stock for $247 million in Q4 and 8.2 million shares for $950 million throughout the fiscal year. For 2024, earnings per share are projected

Ross Stores (NASDAQ:ROST) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/23/2024 -3.34% UBS $85 → $142 Upgrades Sell → Neutral 12/22/2023 2.11% Wells Fargo $140 → $150 Maintains Overweight 11/17/2023 -6.06% BMO Capital $127 → $138 Maintains Outperform 11/17/2023 -4.7% Wells Fargo $135 → $140 Maintains Overweight 11/17/2023 -6.74% Morgan Stanley $131 → $137 Maintains Overweight 11/17/2023 -8.1% Telsey Advisory Group $130 → $135 Maintains Market Perform 11/13/2023 -11.5% Telsey Advisory Group → $130 Reiterates Market Perform → Market Perform 11/07/2023 -4.7% Evercore ISI Group → $140 Initiates Coverage On → Outperform 11/03/2023 -8.1% Gordon Haskett → $135 Upgrades Accumulate → Buy 08/18/2023 -8.1% Guggenheim $125 → $135 Maintains Buy 08/18/2023 -8.1% Loop Capital $125 → $135 Maintains Buy 08/18/2023 -10.14% TD Cowen $128 → $132 Maintains Outperform 08/18/2023 -10.82% Morgan Stanley $130 → $131 Maintains Overweight 08/18/2023 -42.82% UBS $80

Ross Stores (NASDAQ:ROST) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/22/2023 10.39% Wells Fargo $140 → $150 Maintains Overweight 11/17/2023 1.56% BMO Capital $127 → $138 Maintains Outperform 11/17/2023 3.03% Wells Fargo $135 → $140 Maintains Overweight 11/17/2023 0.82% Morgan Stanley $131 → $137 Maintains Overweight 11/17/2023 -0.65% Telsey Advisory Group $130 → $135 Maintains Market Perform 11/13/2023 -4.33% Telsey Advisory Group → $130 Reiterates Market Perform → Market Perform 11/07/2023 3.03% Evercore ISI Group → $140 Initiates Coverage On → Outperform 11/03/2023 -0.65% Gordon Haskett → $135 Upgrades Accumulate → Buy 08/18/2023 -0.65% Guggenheim $125 → $135 Maintains Buy 08/18/2023 -0.65% Loop Capital $125 → $135 Maintains Buy 08/18/2023 -2.86% TD Cowen $128 → $132 Maintains Outperform 08/18/2023 -3.59% Morgan Stanley $130 → $131 Maintains Overweight 08/18/2023 -38.18% UBS $80 → $84 Maintains Sell 08/18/2023 -6.54% BMO Capital $113 →

Wells Fargo analyst Ike Boruchow maintains Ross Stores (NASDAQ:ROST) with a Overweight and raises the price target from $140 to $150.