Ross Stores, Inc. (NASDAQ:ROST) released its first-quarter results after Thursday's closing bell. Here's a look at the key details from the report.
The Details: Ross Stores reported quarterly earnings of $1.47 per share, which beat the Street estimate of $1.44. Quarterly revenue came in at $4.99 billion, which beat the $4.97 billion consensus estimate.
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“Despite the slower start to the spring selling season in February, our monthly sales performance improved sharply, month after month, for the balance of the quarter. For the first quarter, sales and earnings performed at the high end of our expectations while operating margin of 12.2% was flat year-over-year,” Jim Conroy, CEO of Ross Stores, commented.
Outlook: “Given the varying nature of tariff announcements, we are only providing an outlook for the second quarter at this time and are withdrawing our previously provided annual sales and earnings guidance,” said Conroy.
Ross Stores said it sees second-quarter GAAP EPS in a range of $1.40 to $1.55, versus the $1.65 analyst estimate.
“The volatility of trade policies and the corresponding impact on the economy, the consumer, and our profitability is highly unpredictable. During these uncertain times, we will focus on what we can control and manage the business conservatively,” said Conroy.
ROST Price Action: According to data from Benzinga Pro, Ross Stores stock was down 10.96% at $135.57 in Thursday's extended trading.
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