Ross Stores Q1 EPS $1.09 vs $0.97; guides FY EPS $4.77-$4.99

ROSS STORES, INC.

2023-Q1 EPS reported $1.09 revenue$4,494,686,000

Q1 net earnings $371M, EPS $1.09 (up from $338M, $0.97 YoY); sales $4.5B (+5% YoY).
Comparable store sales +1% in Q1; operating margin 10.1% vs 10.8% a year ago.
Q2 EPS forecast $1.07-$1.14 vs $1.11 last year; comps expected flat.
Full-year FY2023 EPS guidance raised to $4.77-$4.99 (includes ~$0.15 53rd-week benefit) from $4.38.
Repurchased 2.2M shares for $234M in Q1; on track for $950M buyback in fiscal 2023.

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