Investing.com - Ross Stores Inc (NASDAQ:ROST) surpassed bottom and top line expectations in the second quarter, earning 82 cents per share on $3.43 billion in revenue. The EPS result topped expectations by 5 cents while revenue beat by $60 million.
Sales rose 8% versus the comparable period, while comparable store sales rose 4% on top of 4% growth last year.
The company's CEO, Barbara Rentler, said for the third quarter ending October 28, 2017, we are forecasting a same store sales gain of 1% to 2% on top of a robust 7% increase in the prior year. Earnings per share for the period are projected to be $0.64 to $0.67, up from $0.62 in last year’s third quarter. Analysts expect EPS of 67 cents.
For the fourth quarter ending February 3, 2018, the company is also forecasting same store sales to grow 1% to 2% versus a 4% increase last year, with earnings per share expected to be $0.88 to $0.92, up from $0.77 in the 2016 fourth quarter.
Ross shares were rallying, they were recently up 10.5%