Ross Stores Inc. (NASDAQ: ROST), which operates a chain of off-price apparel and home accessories stores, has reported financial results for the second quarter of 2024.
- July-quarter net income increased to $527.1 million or $1.59 per share from $446.3 million or $1.32 per share in the same period last year
- The company reported total sales of $5.29 billion for the second quarter, compared to $4.93 billion a year earlier
- Operating margin increased by 115 basis points to 12.5% during the three months
- During the quarter, the company repurchased1.8 million shares of its common stock for about $262 million
- For the third quarter, the company expects comparable store sales to increase by 2-3%
- Q3 earnings per share is projected to be in the range of $1.35 to $1.41, vs. $1.33 in the prior year period
- For the full fiscal year, the company forecasts earnings per share to be in the range of $6.00 to $6.13, vs. $5.56 in fiscal 2023
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