Ross Stores Q1 profits rise 30.2 percent

American off-price retailer Ross Stores said on Thursday its Q1 net profit for 2018 rose. Revenues increased by 8.6 percent from the same period last year.

The company’s net profit for Q1 2018 was 418 million US dollars, up from 321 million US dollars a year earlier. Revenues rose to 3589 million US dollars. The profit margin of the company rose to 11.6 percent compared to 9.7 percent a year ago.

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Ross Stores Inc was founded in 1950 by Morris Ross and is based in Dublin, California, United States. The company operates Ross Dress for Less and dd’s DISCOUNT, off-price apparel and home fashion chains in the United States. Its chains offer apparel, accessories, footwear, and home fashions up to 70 percent below regular prices.

Offering clothing, accessories and home fashion, the Nasdaq-listed company has 77800 employees worldwide and operates about 1400 stores.

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