Ross Stores Raises Outlook But Warns About Discretionary Spending

Key TakeawaysRoss Stores raised its fiscal 2024 profit outlook and beat analysts' second-quarter top- and bottom-line expectations.Q2 sales rose 7% year-over-year and EPS jumped 20%.CEO Barbara Rentler said the company is being cautious with its guidance given the economic challenges faced by its customer base. Ross Stores (ROST) shares rose Friday, a day after the discount clothing retailer raised its full-year profit outlook but acknowledged a challenging consumer spending environment. The company now exp ...