Reported 5 months ago
Ross Stores reported first-quarter results that exceeded Wall Street estimates and raised its annual profit forecast, with shares rising nearly 7% in extended trading. The California-based retailer saw increased operating margins and strong sales due to demand for discounted products amid inflation pressures. Ross Stores emphasized managing inventory and expenses tightly to drive sales and earnings growth for the remainder of the year, acknowledging challenges in discretionary spending. The company's performance mirrors that of off-price retailer TJX Cos, which also posted positive results and raised its profit forecast.
Source: YAHOO