UPDATE: Ross Stores Reports Rise In Q2 Profit

Ross Stores Inc ROST reported a rise in its Q2 profit. Ross Stores reported its quarterly net income at $148.3 million, or $1.28 per share, up from $129.3 million, or $1.07 per share, in the year-ago period. Its total sales climbed 9% to $2.089 billion. However, sales at stores open at least a year surged 5%. Ross Stores projects Q3 profit of $1.00-$1.04 per share and same store sales to surge 1%-2%. Analysts were expecting earnings of $1.13 per share. Ross Stores shares dropped 6.69% to $67.00 in pre-market trading.