Ross Stores Inc. (NASDAQ: ROST), which operates a chain of off-price apparel and home accessories stores, reported an increase in sales and profit for the third quarter of 2024.
- The company reported earnings of $1.48 per share in the October quarter, up from $1.33 per share in the prior-year quarter
- Q3 net income increased to $489 million from $447 million in the comparable period of 2023.
- In the third quarter, sales increased to $5.1 billion from $4.9 billion in the prior-year period, with a comparable store sales gain of 1%
- For the fourth quarter, the company continues to project comparable store sales to increase 2% to 3%
- Earnings per share for the fourth quarter are expected to be in the range of $1.57 to $1.64
- For the full fiscal year, the management expects earnings per share to be in the range of $6.10 to $6.17
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