(Seoul=Yonhap Infomax) Jang Won Lee Senior Reporter = Ross Stores Inc. (NASDAQ: ROST), a leading US off-price apparel retailer, reported quarterly results that exceeded Wall Street expectations.


According to CNBC on the 20th (local time in the US), Ross Stores posted revenue of $5.6 billion for the third quarter (August to October), surpassing the LSEG market consensus of $5.42 billion.


Earnings per share (EPS) came in at $1.58, beating the consensus estimate of $1.41.


Comparable store sales for the third quarter rose 7% year-on-year.


For the fourth quarter, Ross Stores guided EPS in the range of $1.77 to $1.85, above the market consensus midpoint of $1.80.


The company also raised its outlook for same-store sales growth during the year-end holiday shopping season to 3–4%.


Chief Executive Officer Jim Conroy said, “The strong momentum from the back-to-school season (September) continued throughout the quarter.”


Market participants noted, “Ross Stores has proven to be the biggest beneficiary of the ‘value shopping’ trend, as consumers seek discounted brand-name and designer goods amid inflation and economic uncertainty.”


Following the robust third-quarter results, Ross Stores shares rose $4.00 (2.49%) to $164.50 in after-hours trading.


jang73@yna.co.kr


(End)

All content has been translated by AI.
Copyright © Yonhap Infomax Unauthorized reproduction and redistribution prohibited.