These two low-priced retailers have the potential to boost your investment returns. Yes, patient investing in discount stores could make you $1 million over the years. Who knew?Investing in the right industries can significantly boost your portfolio's returns, and discount retail stores are a prime example. Affordable apparel and home goods may not sound like a moneymaking business idea, but there will always be solid demand for these goods. Sector leaders like Ross Stores (ROST 7.79%) and TJX Companies (TJ ...

Ross Stores, Inc.'s (ROST) top and bottom lines beat the Zacks Consensus Estimate in the first quarter of fiscal 2024. Both metrics improved year over year. The strong results, which can be attributed to customers' favorable response to quality and branded bargains, lead to impressive earnings growth. Consequently, this Zacks Rank #3 (Hold) company's shares have rallied 30.3% in the past year compared with the industry's 36.3% growth. Q1 Insights Ross Stores' earnings of $1.46 per share beat the Zacks Conse ...

Key TakeawaysRoss Stores beat profit and sales forecasts and raised its guidance as the off-priced retailer reduced costs.CEO Barbara Rentler said the results came even as the company faced macroeconomic headwinds that squeezed its lower-income customers.Rentler noted Ross Stores would manage inventory and expenses "tightly" throughout the year. Shares of Ross Stores (ROST) surged over 8% in early trading Friday as the off-price apparel and home goods retailer posted better-than-anticipated results and rais ...

The shares of Ross Stores Inc (NASDAQ:ROST) are up 8.4% at $142.88 at last glance, after the retailer announced upbeat first-quarter results and raised its profit outlook. No fewer than nine analysts lifted their price targets after the event, with the highest from TD Cowen to $176 from $173. Today's surge has ROST breaking into positive territory for 2024, and on track for its largest single-day percentage gain since November 2022. The stock is also looking to close above its 80-day moving average for the ...

For the quarter ended April 2024, Ross Stores (ROST) reported revenue of $4.86 billion, up 8.1% over the same period last year. EPS came in at $1.46, compared to $1.09 in the year-ago quarter.The reported revenue represents a surprise of +0.64% over the Zacks Consensus Estimate of $4.83 billion. With the consensus EPS estimate being $1.34, the EPS surprise was +8.96%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expect ...

Ross Stores, Inc. (NASDAQ:ROST) Q1 2024 Earnings Conference Call May 23, 2024 4:15 PM ET Company Participants Barbara Rentler - Chief Executive Officer Adam Orvos - Executive Vice President & Chief Financial Officer Michael Hartshorn - Group President & Chief Operating Officer Conference Call Participants Lorraine Hutchinson - Bank of America Michael Binetti - Evercore ISI Matthew Boss - JPMorgan Mark Altschwager - Baird Chuck Grom - Gordon Haskett Alex Straton - Morgan Stanley Tracy Kogan - Citi Adrienne Y ...

Ross Stores (ROST) came out with quarterly earnings of $1.46 per share, beating the Zacks Consensus Estimate of $1.34 per share. This compares to earnings of $1.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.96%. A quarter ago, it was expected that this discount retailer would post earnings of $1.63 per share when it actually produced earnings of $1.82, delivering a surprise of 11.66%.Over the last four quarters, the com ...

With consumers cutting back on discretionary spending while trading down to value-focused merchants, Ross Stores is seeing these belt-tightening behaviors prove to be a mixed bag. The company, which operates more than 2,000 off-price stores across the country under its Ross Dress for Less and DD’s Discounts banners, reported in its first quarter fiscal 2024 financial results that it saw sales rise 8% year over year. However, the retailer continues to face challenges, as its target demographics face ongoing ...

Financial Performance - Earnings per share for Q1 2024 were $1.46, up from $1.09 in Q1 2023, with net earnings of $488 million compared to $371 million last year[1] - Sales for Q1 2024 increased by 8% to $4.9 billion, compared to $4.5 billion in the same period last year, with comparable sales up 3%[1] - Operating margin improved to 12.2%, a rise of 205 basis points from 10.1% in the previous year, driven by lower distribution and freight costs[2] - Net earnings for the three months ended May 4, 2024, were $487,990, compared to $371,191 for the same period in 2023, representing a 31.5% increase[12] - Fiscal 2024 earnings per share guidance is now projected to be between $5.79 and $5.98, compared to $5.56 for the previous fiscal year[4] Shareholder Actions - The company repurchased 1.9 million shares for $262 million under a $2.1 billion buyback program, aiming to buy back $1.05 billion in total during fiscal 2024[2] - Dividends paid increased to $123,298 from $114,794, marking a 7.3% increase[12] Inventory and Assets - Merchandise inventory increased to $2.46 billion from $2.24 billion year-over-year[10] - Merchandise inventory increased by $269,479, compared to an increase of $218,240 in the prior year, indicating a 23.5% rise[12] - Total assets as of May 4, 2024, were $14.49 billion, an increase from $13.62 billion as of April 29, 2023[10] Liabilities and Cash Flow - Current liabilities rose to $4.89 billion from $3.78 billion in the previous year[10] - Net cash provided by operating activities decreased to $368,921 from $413,152, a decline of 10.7% year-over-year[12] - Cash used in investing activities was $136,249, down from $167,253, reflecting an 18.6% decrease[12] - Net cash used in financing activities rose to $450,033 from $380,635, an increase of 18.3%[12] - Total cash, cash equivalents, and restricted cash at the end of the period was $4,718,080, up from $4,477,505, a growth of 5.4%[12] Store Operations - The company operates 2,127 stores as of May 4, 2024, up from 2,034 stores a year earlier[8] - For Q2 2024, comparable store sales are projected to increase by 2% to 3%, with earnings per share expected to be between $1.43 and $1.49[4] Compensation and Payables - Stock-based compensation rose to $40,447 from $33,063, a 22.5% increase year-over-year[12] - Accounts payable increased significantly to $179,376 from $46,577, indicating a 284.5% rise[12] - Interest paid remained constant at $40,158 for both periods, showing no change[12]

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