Discount apparel retailer Ross Stores, Inc. (
) 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
Ross Stores shares were mostly flat in premarket trading
The Bottom Line
Shares of Ross Stores (
) 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. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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