Ross Stores, Inc. Surges to New Highs With Another Earnings Beat

Ross Stores, Inc. Surges to New Highs With Another Earnings Beat

Last Tuesday, off-price giant TJX Companies (NYSE: TJX) reported a rare sales miss for the third quarter. Management blamed unfavorable weather and the impact of several hurricanes -- as well as some fashion missteps -- for the uncharacteristically poor performance.

However, these problems didn't extend to TJX's smaller rival, Ross Stores (NASDAQ: ROST). On Thursday afternoon, Ross Stores blew past all forecasts (its own and those of Wall Street analysts), posting stellar sales and earnings results for the third quarter.

Ross Stores faced the same headwinds as other retailers last quarter: hurricane-related disruption and unseasonable weather. Nevertheless, the underlying strength of its business continued to shine through.

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Source: Fool.com