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