Why Ross Stores Stock Topped the Market Today
Ross Stores (NASDAQ: ROST) was a post-earnings winner of a stock on Friday after posting its second-quarter results following market hours Thursday. Clearly satisfied with the news, investors bid the discount retailer's shares up by nearly 2%. This was just enough to edge past the gain of the lively S 500 index that day.
Ross's total sales amounted to $5.3 billion, representing a 7% improvement year over year. The retailer's net income according to generally accepted accounting principles (GAAP) standards was $527 million, or $1.59 per share. That was quite a robust 18% higher than the Q2 2023 profit figure.
Both line items comfortably exceeded the consensus-analyst estimates. On average, prognosticators following Ross stock were anticipating total sales of $5.24 billion and net earnings per share (EPS) of $1.50.
Source Fool.com
