Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Ross Stores Shares Shoot Up On Better Than Expected Q2 Earnings

By Warrior TradingStock MarketsAug 22, 2017 05:04AM ET
www.investing.com/analysis/ross-stores-inc--rost-stock--shares-shoot-up-on-better-than-expecte-200208652
Ross Stores Shares Shoot Up On Better Than Expected Q2 Earnings
By Warrior Trading   |  Aug 22, 2017 05:04AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

Ross Stores, Inc. (NASDAQ: NASDAQ:ROST)

Ross Stores, Inc. (ROST), a national off-price retail apparel and home fashion store company yesterday reported their fiscal second quarter 2017 financial results.

Ross reported second quarter earnings of $0.82 per share which beat analyst expectations of $0.76 per share. Ross reported second quarter revenues of $3.43 billion which beat analyst expectations of $3.37 billion.

Ross Stores, Inc. CEO’s Comments

Barbara Rentler, Chief Executive Officer, commented, “We are pleased with the better-than-expected growth we delivered in both sales and earnings in the second quarter, especially given our strong multi-year comparisons and today’s volatile retail climate. Operating margin of 14.9% outperformed our projections, mainly due to a combination of higher merchandise margin and leverage on our above-plan sales gains.”

Ms. Rentler continued, “During the second quarter and first six months of fiscal 2017, we repurchased 3.6 million and 6.9 million shares of common stock, respectively, for an aggregate price of $215 million in the quarter and $430 million year-to-date. As planned, we expect to buy back a total of $875 million in common stock during fiscal 2017 under the two-year $1.75 billion authorization approved by our Board of Directors in February of this year.” Business Wire

ROST Technical Analysis

ROST Technical Analysis
ROST Technical Analysis

ROST opened trading yesterday at $53.92 which was down from the previous day’s trading close of $54.37. ROST closed trading yesterday at $53.33 and spiked up after market to $59.55, equivalent to a 12% increase from the closing price. Taking a look at the daily chart we can see the last time ROST traded above these levels we have to go back to June 19th when it traded at lows of $60.65.

Taking a closer look at the daily chart we can see that before the spike up ROST had been in an overall downward trend dating back to February 27th when it traded at $69.15. ROST has a float of 380.68 million shares and traded 1.51 times the normal daily trading volume on Thursday.

For trading purposes, I would like to see ROST open trading on Friday above $57.50 and if it does I would be looking to take a long position at the bell. My stop order would be $0.40 from my entry position fearing anything more than that and the stock would start to fill in the gap up.

Company Profile

Ross Stores, Inc., together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd’s DISCOUNTS brand names in the United States. It primarily offers apparel, accessories, footwear, and home fashions.

The company’s Ross Dress for Less stores sell its products at savings of 20% to 60% off department and specialty store regular prices primarily to middle income households; and dd’s DISCOUNTS stores sell its products at savings of 20% to 70% off moderate department and discount store regular prices to customers from households with moderate income.

As of July 17, 2017, it operated 1,384 Ross Dress for Less stores in 37 states, the District of Columbia, and Guam; and 205 dd’s DISCOUNTS stores in 16 states. The company was founded in 1982 and is headquartered in Dublin, California.

Ross Stores Shares Shoot Up On Better Than Expected Q2 Earnings
 

Related Articles

Ross Stores Shares Shoot Up On Better Than Expected Q2 Earnings

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email