Ross Stores’ sales and earnings grow in Q1

Ross Stores, Inc. has reported earnings per share for the 13 weeks ended May 4, 2019 of 1.15 dollars up from 1.11 dollars for the same period last year. Net earnings for the quarter were 421 million dollars compared to 418 million dollars in the prior year. The company said, sales for the period grew 6 percent to 3.8 billion dollars, with comparable store sales up 2 percent.

Commenting on the company’s first quarter, Barbara Rentler, Chief Executive Officer of Ross Stores, said in a statement: “For the first quarter, we delivered sales gains at the high end of our guidance as well as better-than-expected earnings per share growth despite continued underperformance in ladies apparel. Looking ahead, for the 13 weeks ending August 3, 2019, we are forecasting same store sales to be up 1 percent to 2 percent and earnings per share to be 1.06 dollars to 1.11 dollars, up from 1.04 dollars in the prior year period.”

“Based on our first quarter results and guidance for the second quarter, we now project earnings per share for the 52 weeks ending February 1, 2020 to be in the range of 4.38 dollars to 4.52 dollars, up from 4.26 dollars last year,” added Rentler.

Picture:Facebook/Ross Dress for Less