March 3 (Reuters) - Ross Stores forecast annual sales above Wall Street estimates on Tuesday, betting demand for discounted apparel ​and accessories will hold up even as macroeconomic uncertainty looms.

Shares ‌of the off-price retailer rose about 6% in after-hours trading after it also announced a new $2.55 billion share buyback program for fiscal 2026 and 2027.

Value-focused shoppers have been ​turning to off-price chains for branded goods at lower prices ​amid persistent inflation and uncertainty around trade policy, supporting steady ⁠store traffic.

Ross has been investing in marketing to attract demand in a ​highly competitive off-price market, and executives said on a post-earnings call it ​has also worked with vendors to navigate the impact of tariffs on categories such as home goods.

The California-based retailer faces competition from rivals such as TJX, Burlington Stores, ​fast-fashion chains such as Shein and digital marketplace Amazon, which are ​expanding their discount offerings.

Spend growth at off-price chains is among the strongest in retail, ‌with gains ⁠across all income segments, recently led by lower-income shoppers but with solid growth from middle- and higher-income households as well, said Michael Gunther, SVP of research and market intelligence at ConsumerEdge.

Rival TJX last week forecast annual sales and ​profit below expectations, ​citing concerns over ⁠declining discretionary purchases as living costs rise.

Fourth quarter operating margin were 12.3% compared to last year's 12.4%.

For the ​holiday quarter, Ross' comparable sales rose 9%, beating analysts' ​estimate of ⁠a 4.03% rise, according to data compiled by LSEG.

It earned quarterly profit of $2 per share, topping estimates of $1.90 per share.

Ross expects annual same-store sales growth ⁠of ​3% to 4%, compared with analysts' estimate ​of a 3.05% increase.

The company expects annual profit per share in the range of $7.02 to $7.36, missing ​average estimates' of $7.21.