Ross Stores Ends 2019 With Robust Growth

Off-price retailer Ross Stores (NASDAQ: ROST) ended its 2019 fiscal year on a strong note, reporting solid growth for the holiday-season quarter that ended Feb. 1. However, management paired that good news with a conservative outlook for the year ahead.

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Comp sales at locations open for a year or more rose 4%. That significantly outpaced the target range that management had forecast a few months earlier. Ross Stores joined rival TJX Companies in announcing better holiday-period results than both Target and Walmart. "Our ongoing ability to offer compelling bargains to our customers enabled us to achieve these results," CEO Barbara Rentler said in a press release, "despite...a fiercely competitive holiday season."

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Source Fool.com