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Ross Stores' 3Q24 earnings showed modest net sales growth and a gross margin expansion, but same-store sales growth decelerated significantly due to weather impacts. Management's FY24 EPS guidance was raised, and SSS growth is expected to accelerate in 4Q24. Despite a positive outlook and a new CEO with strong retail experience, the current valuation does not justify a higher rating. I maintain a hold rating on ROST.
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Ross Stores aims to draw customers and drive sales by offering value and a “treasure hunt environment,” executives said Thursday (Nov. 21) during the off-price retailer's quarterly earnings call.
Several analysts expressed views on Ross Stores, Inc. ROST third-quarter results reported on Thursday.
Ross Stores ROST reported better-than-expected third-quarter EPS results on Thursday.
U.S. stocks traded mostly higher midway through trading, with the Dow Jones index gaining by more than 250 points on Friday.
ROST's Q3 results reflect y/y earnings growth, though comparable sales decline 1% due to challenges from weather disruptions and constrained consumer spending.
Shares of Ross Stores (ROST) were up Friday morning as the discount retailer's earnings came in better than expected.
Shares of Gap Inc (NYSE:GAP) and Ross Stores Inc (NASDAQ:ROST) are both making outsized moves, after the retail companies posted their quarterly results.
Ross Stores, Inc. (NASDAQ:ROST ) Q3 2024 Earnings Conference Call November 21, 2024 4:15 PM ET Company Participants Barbara Rentler - Chief Executive Officer Adam Orvos - Executive Vice President and Chief Financial Officer Michael Hartshorn - President and Chief Operating Officer Conference Call Participants Matthew Boss - JPMorgan Chase & Co. Mark Altschwager - Robert W. Baird & Co. Paul Lejuez - Citigroup Inc. Lorraine Hutchinson - Bank of America Merrill Lynch Chuck Grom - Gordon Haskett Simeon Siegel - BMO Capital Markets Adrienne Yih - Barclays Capital Brooke Roach - Goldman Sachs Group, Inc. Alexandra Straton - Morgan Stanley Michael Binetti - Evercore ISI Dana Telsey - Telsey Advisory Group Irwin Boruchow - Wells Fargo Securities Jay Sole - UBS Marni Shapiro - The Retail Tracker Aneesha Sherman - Sanford C.
Although the revenue and EPS for Ross Stores (ROST) give a sense of how its business performed in the quarter ended October 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.