earnings
confidence high
sentiment neutral
materiality 0.70
Ross Stores Q3 EPS $1.48, net income $489M; comps +1% weak; FY25 EPS guidance $6.10-$6.17
ROSS STORES, INC.
2024-Q3 EPS reported
$4.53
revenue$15,216,940,000
- Q3 EPS $1.48 vs $1.33 a year ago; net income $489M vs $447M; sales $5.1B vs $4.9B.
- Comparable store sales +1%, below plan; CEO cites execution issues and weather from Hurricanes Helene and Milton.
- Operating margin improved to 11.9% from 11.2% on lower incentive, freight, and distribution costs.
- Repurchased 1.8M shares for $262M; on track for $1.05B buyback in FY2024 under $2.1B program.
- Full year EPS guidance $6.10-$6.17 (vs $5.56 last year); Q4 EPS guidance $1.57-$1.64 (vs $1.82 prior, 14-week quarter).