Categories Consumer, Earnings

ROST Earnings: Highlights of Ross Stores’ Q2 2023 results

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

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

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