Ross Stores: Q1 Earnings Insights

Shares of Ross Stores ROST rose in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share increased 562.07% year over year to $1.34, which beat the estimate of $0.88.

Revenue of $4,516,000,000 rose by 145.04% from the same period last year, which beat the estimate of $3,870,000,000.

Guidance

Ross Stores Sees Q2 EPS $0.80-$0.89 Vs. $1.03 Est., FY22 EPS $3.93-$4.20 Vs. $4.22 Est.

Conference Call Details

Date: May 20, 2021

Time: 04:15 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/zq9abpje

Technicals

52-week high: $134.22

52-week low: $79.65

Price action over last quarter: Up 15.26%

Company Overview

Ross Stores is a leading American off-price apparel and home fashion retailer, operating over 1,850 stores (at the end of fiscal 2020) across the Ross Dress for Less and dd's Discounts banners. Ross offers a variety of name-brand products and targets undercutting conventional retailers' regular prices by 20%-70%. The company uses an opportunistic, flexible merchandising approach; together with a relatively low-frills shopping environment centered on a treasure-hunt experience, Ross maximizes inventory turnover and traffic, enabling its low-price approach. In fiscal 2020, 28% of sales came from home accents (including bed and bath), 23% from the ladies' department, 14% from each of men's and accessories, 12% from shoes, and 9% from children's. All sales were made in the United States.