Ross Stores Inc. (NASDAQ: ROST), which operates a chain of off-price apparel and home accessories stores, has announced results for the second quarter of 2023.
- The company reported earnings per share of $1.32 or a net income of $446 million for the July quarter, which is higher than the prior-year numbers
- Second-quarter sales increased to $4.9 billion from $4.6 billion in the prior-year period; comparable store sales were up 5%, vs. down 7% in Q2 2022
- The management expects third-quarter comparable store sales to be up 2% -3%, and fourth-quarter comps up 1-2%
- Third-quarter earnings per share are projected to be between $1.16 and $1.21, vs. $1.00 last year
- The guidance for fourth-quarter earnings per share is $1.58-$1.64, compared to $1.31 a year earlier
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