Ross Stores Shares Fall 2.3% (ROST)

Shares of Ross Stores, Inc. ROST are trading down 2.3% at $63.92 per share during the Thursday afternoon trading session. The day's trading range for shares of Ross Stores, Inc has been between $63.87 and $65.02 per share. Analysts covering the company's stock give it a consensus price target of $62.91 per share. Volume of 1.6 million shares is approaching the daily average volume of 1.7 million shares. Ross Stores, Inc. (ROST) released financial results on Thursday morning. Ross Stores, Inc announced 3rd quarter earnings per share of $1.02, on revenue of $1.87 billion. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of $1.02 per share, on revenue of $1.85 billion. Vice chairman and chief executive officer Michael Balmuth said, "We delivered strong sales and earnings increases in the third quarter and first nine months of 2010 on top of outstanding gains in the prior year. This performance is especially noteworthy considering the ongoing uncertainty in the macro-economic and retail environment. Record operating margins in the third quarter and year-to-date periods were driven by our continued ability to deliver exciting bargains while operating our business on lower inventories, as well as much better-than-expected shortage results. The best performing merchandise categories during the third quarter were Dresses and Home. Geographic trends were relatively broad-based, with the strongest performance in Florida." Read more from Benzinga's Company news.