Ross Drops Ahead of Earnings

Ross Stores (ROST) has fallen for seven days in a row. The total loss is nearly 12%. The deep-discounter reports fiscal Q3 tomorrow morning. This move may reflect fears of a bad report (or it may be overdone).

In the last earnings report, Ross gave guidance for both Q3 and Q4. For Q3, Ross expects same-store sales growth of 1% to 2% and earnings between 84 and 88 cents per share. Wall Street expects 90 cents per share.

For Q4, which is the all-important holiday-shopping quarter, Ross again expects same-store sales growth of 1 to 2%. For earnings, Ross is looking for $1.02 to $1.07 per share. That translates to full-year earnings of $4.01 to $4.10 per share. For Q4, Wall Street expects $1.08 per share.

Posted by on November 19th, 2018 at 7:12 pm


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