Ross Stores Inc. (NASDAQ: ROST), which operates a chain of off-price apparel and home accessories stores, has announced results for the third quarter of 2023.
- In the October quarter, earnings per share increased to $1.33 from $1.00 in the third quarter of 2022
- Net income for the three-month period was $447 million, versus $342 million in the prior-year quarter
- The company reported total sales of $4.9 billion for Q3, up from $4.6 billion in the same period last year
- There was a 5% increase in comparable store sales; the management expects same-store sales to be up 1-2% in Q4
- It is looking for earnings in the range of $1.56 per share to $1.62 per share for Q4, compared to $1.31 per share last year
- Full-year profit is expected to be in the range of $5.30 per share to $5.36 per share
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