The discount retailer showed encouraging growth, especially with net income, in its second quarter. It also handily beat analyst estimates on both the top and bottom lines.
Consumers have reclaimed a bit of their buying power, but many can't throw caution to the wind or splurge on big-ticket items.
Ross Stores, Inc. ROST shares are trading higher on Friday.
Ross Stores' (ROST) Q2 results highlight strong value propositions to customers, increased in-store traffic, higher sales, and reduced distribution and incentive costs.
Ross Stores (ROST) shares rose Friday, a day after the discount clothing retailer raised its full-year profit outlook but acknowledged a challenging consumer spending environment.
Unsurprisingly, off-price retailers like Ross Stores NASDAQ: ROST and TJX Companies NYSE: TJX outperform. The off-price retail segment is well-positioned after years of economic turmoil, including supply chain logjams, high inflation, high interest rates, and the ensuing inventory bloat seen among apparel manufacturers and major retailers.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
Ross Stores stock popped early Friday after its earnings late Thursday. Shares eyed a jump above a buy point on the move.
Ross Stores (NASDAQ: ROST ) just reported results for the second quarter of 2024. Ross Stores reported earnings per share of $1.59.
Ross Stores, Inc. (NASDAQ:ROST ) Q2 2024 Earnings Conference Call August 22, 2024 4:15 AM ET Company Participants Barbara Rentler - Chief Executive Officer Adam Orvos - Executive Vice President & Chief Financial Officer Michael Hartshorn - Group President & Chief Operating Officer Conference Call Participants Matthew Boss - JPMorgan Chuck Grom - Gordon Haskett Mark Altschwager - Baird Paul Lejuez - Citi Michael Binetti - Evercore ISI Alex Straton - Morgan Stanley Lorraine Hutchinson - Bank of America Dana Telsey - Telsey Advisory Group Brooke Roach - Goldman Sachs Robert Drbul - Guggenheim Adrienne Yih - Barclays Irwin Boruchow - Wells Fargo Marni Shapiro - Retail Tracker John Kernan - TD Cowen Aneesha Sherman - Bernstein Corey Tarlowe - Jefferies Jay Sole - UBS Laura Champine - Loop Capital Markets Operator Good afternoon, and welcome to the Ross Stores Second Quarter 2024 Earnings Release Conference Call. The call will begin with prepared comments by management followed by a question-and-answer session.
Ross Stores (ROST) came out with quarterly earnings of $1.59 per share, beating the Zacks Consensus Estimate of $1.49 per share. This compares to earnings of $1.32 per share a year ago.
Zachary Warring, CFRA equity research analyst, joins 'Closing Bell Overtime' to talk Ross earnings.