On August 17, Ross fell 3.8% in pre-market trading, trading at $237.93/share, with turnover of $126,600. The decline came ahead of the company's Q2 earnings release scheduled for August 20.

On the news front, UBS issued a research note warning that channel checks indicate Ross's Q2 sales momentum, while decent, is running below sell-side expectations. UBS estimates EPS could miss the Street consensus of $1.94 by approximately 7 cents. The brokerage also expects fiscal year EPS guidance to narrow to $7.56-$7.68 from the prior $7.50-$7.74 range. Industry data cited by UBS showed sales growth of 11% in May, 10% in June, and 11% in July, but a 31% year-over-year drop in August Google search interest for the retailer.

For context, Ross delivered a strong Q1 with EPS of $2.02, beating the $1.73 estimate by over 20%, and had guided Q2 EPS to $1.85-$1.93. The current market consensus for Q2 revenue stands at $6.166 billion, representing 10.6% year-over-year growth.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)