Why Shares of Ross Stores Jumped Today
Shares of Ross Stores (NASDAQ: ROST) surged on Friday after the retailer reported better-than-expected second-quarter results. As of 11:30 a.m. EDT, the stock was up 9%.
Ross Stores reported second-quarter revenue of $3.43 billion, up 8% year over year and $60 million higher than the average analyst estimate. Comparable sales rose 4% year over year, on top of a 4% increase during the prior-year period. "We are pleased with the better-than-expected growth we delivered in both sales and earnings in the second quarter, especially given our strong multi-year comparisons and today's volatile retail climate," said Ross Stores CEO Barbara Rentler.
Image source: Ross Stores.
Source: Fool.com
Ross Stores Inc. Stock
€134.56
1.170%
With 33 Buy predictions and not a single Sell prediction Ross Stores Inc. is an absolute favorite of our community.
As a result the target price of 151 € shows a slightly positive potential of 12.22% compared to the current price of 134.56 € for Ross Stores Inc..
