Ross Stores Inc. (NASDAQ:ROST) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.43%.
Ross Stores Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 20.99% to $0.98 in the quarter versus EPS of $0.81 in the year-earlier quarter.
Revenue: Rose 8.98% to $2.55 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Ross Stores Inc. reported adjusted EPS income of $0.98 per share. By that measure, the company beat the mean analyst estimate of $0.93. It beat the average revenue estimate of $2.52 billion.
Quoting Management: Michael Balmuth, Vice Chairman and Chief Executive Officer, commented, “We are pleased with our better-than-expected results for the second quarter and first six months of 2013, which were mainly driven by above-plan sales and merchandise gross margin. Our performance for both the quarter and year-to-date periods continues to benefit from the solid execution of our core off-price strategy of delivering compelling name brand bargains to today’s value-focused consumers.”
Key Stats (on next page)…
Revenue increased 0.44% from $2.54 billion in the previous quarter. EPS decreased 8.41% from $1.07 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.79 and has not changed. For the current year, the average estimate has moved up from a profit of $3.88 to a profit of $3.89 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)