Credit: Shutterstock photoInvestorPlace - Stock Market News, Stock Advice & Trading Tips
Ross Stores, Inc. (NASDAQ: ROST ) had a mixed quarterly report as the company beat analysts' expectations in its earnings and revenue, but posted an underwhelming guidance.
Ross Stores also saw its sales rise by 16% year-over-year from $3.5 billion to $4.1 billion. The figure also came in ahead of the Wall Street consensus estimate that analysts polled by FactSet predicted of $3.96 per share.
The company's comparable-store sales for the quarter were 5% better year-over-year, ahead of the year-ago gain of 4% during the same period. However, Ross Stores missed the mark in its forecast as the company projects same-store sales growth of 1% to 2% for fiscal 2018, below analysts' consensus estimate of 3.5%, per FactSet.
Earnings are expected to top the mark as the retailer expects profit in the range of $3.86 to $4.03 per share, while analysts are calling for earnings of $3.29 per share, according to FactSet.
"While we are encouraged by our recent strong sales and earnings results, we again face our own challenging multi-year comparisons as well as a very competitive retail environment. As a result, although we hope to do better, we continue to take a prudent approach to forecasting our business in 2018," CEO Rentler said in a statement.
ROST stock slipped about 3.1% after the bell Tuesday on the company's weak outlook.
More From InvestorPlace
- 7 Great REITs to Own in Good Times and Bad
- 8 Companies That Could Disappear by 2019
- 10 Dividend Stocks to Buy With Low Yields, But Big Dividend Growth
The post Ross Stores, Inc. (ROST) Q4 Sales Rise 16%, Guidance Misses the Mark appeared first on InvestorPlace .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
