Ross Stores Q3 EPS $1.00, comps down 3%; raises Q4 guidance to $1.13-$1.26

ROSS STORES, INC.

2022-Q3 EPS reported $3.08 revenue$13,481,598,000

Q3 diluted EPS $1.00 (net income $342M) vs $1.09 ($385M) a year ago; beat company expectations.
Sales $4.6B flat YoY; comparable store sales -3% on top of a 14% gain last year.
Operating margin 9.8% vs 11.4%, pressured by deleverage, higher markdowns and packaway timing.
Q4 guidance: comps flat to -2%, EPS $1.13-$1.26; FY2022 EPS now $4.21-$4.34 (vs $4.87 last year).
Repurchased 2.8M shares for $244M in Q3; on track for $950M in FY2022 under $1.9B program.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ROSS STORES, INC. reported the fiscal quarter ended October 29, 2022 results: revenue $4.6 billion, net income $342 million, EPS $1.00. Guidance raised.

Period: the fiscal quarter ended October 29, 2022
Revenue: $4.6 billion
Net income: $342 million
EPS: $1.00
Guidance: raised
Result: reported results

Exact text from the filing

Ross Stores, Inc. (NASDAQ: ROST) today reported earnings per share for the third quarter ended October 29, 2022 of $1.00 on net income of $342 million. These results compare to earnings per share of $1.09 on net income of $385 million for the 13 weeks ended October 30, 2021. Sales for the 2022 third quarter were $4.6 billion, in line with the prior year, with comparable store sales down 3% on top of a robust 14% gain for the same period in 2021.

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Source: SEC EDGAR

accession 0000745732-22-000058

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