Ross Stores Lifts Guidance after Strong April Comps (ROST)

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Discount apparel retailer Ross Stores, Inc. ( ROST ) on Thursday posted a solid uptick in April comparable sales and raised its first quarter earnings outlook.

The Pleasanton, CA-based company said that April same-store sales rose 7% from last year. Ross Stores (Nasdaq: ROST) reports 7% rise in April same-store sales. Same-store sales are an important metric used to measure a retailer's performance, since they only record sales from stores open at least one year.

Accordingly, ROST lifted its first quarter earnings forecast to a range of 92 to 93 cents per share, up from a prior outlook of 89 to 91 cents. On average, Wall Street analysts expect 92 cents per share for the quarter. The company also reported first quarter sales of $2.36 billion, which bested analysts' view of $2.32 billion.

Ross Stores shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Ross Stores ( ROST ) have a .88% dividend yield, based on last night's closing stock price of $63.85. The stock has technical support in the $57-$60 price area. The shares are trading at all-time highs.

Ross Stores, Inc. ( ROST ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: ROST

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