Ross Stores (ROST) reported quarterly earnings results on Thursday, Aug-18-2016. The company said it had a profit of $0.71 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.67. The company posted revenue of $3180.92 million in the period, compared to analysts expectations of $3128.94 million. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.
Many Wall Street Analysts have commented on Ross Stores. Miller Tabak Initiated Ross Stores on Jun 24, 2016 to “Buy”, Price Target of the shares are set at $66.
Ross Stores opened for trading at $61.88 and hit $62.38 on the upside on Wednesday, eventually ending the session at $62.3, with a gain of 0.70% or 0.43 points. The heightened volatility saw the trading volume jump to 29,79,823 shares. Company has a market cap of $24,889 M.
In a different news, on Jul 12, 2016, George Orban (director) sold 56,000 shares at $57.48 per share price. According to the SEC, on Jun 2, 2016, Michael Balmuth (Chairman, Executive) sold 194,984 shares at $53.44 per share price. On Apr 4, 2016, Michael J. Hartshorn (Group S.V.P., CFO) sold 862 shares at $58.16 per share price, according to the Form-4 filing with the securities and exchange commission.
Ross Stores Inc. is an off-price retailer of name brand and designer apparel accessories footwear and home fashions for the entire family. The Company operates two brands of off-price retail apparel and home fashion stores Ross Dress for Less (Ross) and dd’s DISCOUNTS. As of December 31 2014 the Company operated 1210 Ross locations in 33 states the District of Columbia and Guam and 152 dd’s DISCOUNTS stores in 15 states. The Ross and dd’s DISCOUNTS stores are supported by five distribution centers. The Ross brand stores offers its products at savings of 20% to 60% off department and specialty store regular prices every day. Ross’ target customers are primarily from middle income households. The dd’s DISCOUNTS stores offers its products at savings of 20% to 70% off moderate department and discount store regular prices every day. Its target customers typically come from households with moderate incomes.