Off-price retail company Ross Stores (NASDAQ: ROST) will be reporting earnings tomorrow after market hours. Here’s what you need to know.
Ross Stores met analysts’ revenue expectations last quarter, reporting revenues of $5.91 billion, down 1.8% year on year. It was a slower quarter for the company, with full-year EPS guidance missing analysts’ expectations significantly and EPS guidance for next quarter missing analysts’ expectations significantly.
Is Ross Stores a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Ross Stores’s revenue to grow 2.1% year on year to $4.96 billion, slowing from the 8.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.44 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ross Stores has missed Wall Street’s revenue estimates four 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, posting year-on-year sales declines of 1.6%. The stock traded up 8.1% on the results.
Read our full analysis of Dillard’s earnings results here.There has been positive sentiment among investors in the general merchandise retail segment, with share prices up 16.7% on average over the last month. Ross Stores is up 10.3% during the same time and is heading into earnings with an average analyst price target of $155.93 (compared to the current share price of $152.15).
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