Off-price retail company Ross Stores (NASDAQ:ROST) will be reporting results this Thursday afternoon. Here’s what you need to know.
Ross Stores beat analysts’ revenue expectations last quarter, reporting revenues of $6.01 billion, up 20.6% year on year. It was an exceptional quarter for the company, with EPS guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ gross margin estimates.
Is Ross Stores a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ross Stores’s revenue to grow 11.3% year on year, improving from the 4.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Ross Stores has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Ross Stores’s peers in the general merchandise retail segment, only Dillard's has reported results so far. It met analysts’ revenue estimates and delivered flat year-on-year revenue. The stock was down 11.8% on the results.
Read our full analysis of Dillard’s earnings results here.Investors in the general merchandise retail segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Ross Stores is up 1.6% during the same time and is heading into earnings with an average analyst price target of $257.50 (compared to the current share price of $239.62).
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