© Reuters. Ross Stores (ROST) tops expectations for Q4 earnings and revenue
Shares of Ross Stores (NASDAQ:) remained flat in after-hours trading Tuesday after the company reported better-than-anticipated earnings and revenue for the fiscal Q4 2023.
In addition, the company also issued an upbeat guidance for Q1 2025 and the full year.
For Q4 2023, Ross Stores reported an earnings per share (EPS) of $1.82, topping the consensus estimates of $1.65. Revenue came in at $6.02 billion, compared to the expected $5.8 billion expected by analysts.
The discount department store operator’s operating margin increased by 165 basis points to 12.4% in the quarter, up from 10.7% in the previous year.
For its guidance, Ross Stores projects its EPS for the first quarter of 2025 to be between $1.29 and $1.35, slightly above the consensus projection of $1.27.
Full-year EPS is seen ranging from $5.64 to $5.89, short of the projected $5.91.
“We are pleased with our fourth quarter sales and earnings results that were well ahead of our expectations,” said Ross Stores’ CEO Barbara Rentler.
“Our above-plan sales were driven by customers’ positive response to our improved assortments of quality branded bargains throughout our stores,” she added.
