On May 22, Ross Stores rose 5.34% in pre-market trading, trading at $228.89/share, with trading volume of approximately $69,800. The surge was driven by the company reporting first-quarter results that substantially exceeded market expectations while raising full-year guidance.

Ross Stores posted fiscal Q1 earnings per share of $2.02, beating the analyst consensus estimate of $1.68 by 20.24% and representing a 37.41% year-over-year increase from $1.47 per share. Quarterly revenue reached $6.01 billion, surpassing the expected $5.567 billion. The company simultaneously raised its full-year outlook, projecting comparable store sales growth of 6% to 7%, up from the prior forecast of 3% to 4%, and full-year EPS of $7.50 to $7.74. Q2 EPS guidance of $1.85 to $1.93 also exceeded the market estimate of $1.80.

Management noted healthy traffic growth across all income levels and age groups, underscoring resilient demand for value-oriented retail amid persistent inflationary pressures. Competitor TJX Companies had previously reported similarly strong results, confirming broad strength in the off-price retail segment.

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