Ross Stores (ROST) closed at $149.29 in the latest trading session, marking a +1.3% move from the prior day. The stock outperformed the S&P 500, which registered a daily loss of 0.16%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 0.18%.Heading into today, shares of the discount retailer had gained 11.76% over the past month, outpacing the Retail-Wholesale sector's gain of 1% and the S&P 500's gain of 3.15% in that time.The investment community will be closely monitoring the perf ...

Core Insights - Ross Stores, Inc. has effectively navigated macroeconomic challenges by adjusting its merchandise, resulting in a 3% increase in comparable store sales in Q1 2024, driven by higher customer traffic and an 8% year-over-year sales improvement [1] - The company has a strong off-price retail business model that appeals to value-conscious consumers, ensuring consistent store traffic across various economic conditions [2] Financial Performance - In Q1 2024, Ross Stores surpassed Zacks Consensus Estimates for both revenue and earnings, with year-over-year improvements attributed to favorable customer responses to quality and branded bargains [1] - The cost of goods sold as a percentage of revenues decreased by 140 basis points, contributing to improved operating margins, despite a 15-basis point decline in merchandise margin [3] Expansion Strategy - As of May 24, 2024, Ross Stores operates 2,127 stores, including 1,775 Ross Dress for Less and 352 dd's DISCOUNTS locations, reflecting a robust expansion strategy [4] - The company plans to open 90 new stores in fiscal 2024, having already inaugurated 11 new Ross Dress for Less stores and seven dd's DISCOUNTS outlets in early 2024 [4] Future Outlook - For Q2 2024, management anticipates comparable store sales to rise by 2-3% year-over-year, with earnings per share projected between $1.43 and $1.49, up from $1.32 in the prior year [5] - For the 52 weeks ending February 1, 2025, comparable store sales are expected to increase by 2-3%, with earnings per share forecasted at $5.79-$5.98 compared to $5.56 for the previous year [5] Market Position - Despite a 9.5% decline in share price over the past six months, Ross Stores remains a significant player in the off-price retail sector, with a business model that continues to attract value-conscious consumers [6]

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Key PointsRoss Stores had a solid quarter and guided higher, leading the analysts to lift their targets. Analysts are leading ROST stock to a new all-time high, about 15% above the current action.Ross Stores' value equation includes strong results, a healthy balance sheet, reliable dividends, and count-reducing share buybacks. 5 stocks we like better than Ross StoresRoss Stores NASDAQ: ROST isn’t a cheap stock trading 24 times its earnings, but it is a value for investors. Competitor TJX Companies NYSE: TJX ...

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 ...