© Reuters. Ross Shops shares surge 5% following Q3 beat
Ross Shops (NASDAQ:) shares rose greater than 5% after-hours following the corporate’s reported Q3 outcomes, with EPS of $1.33 coming in higher than the consensus estimate of $1.22. Income grew 7.8% year-over-year to $4.9 billion, beating the consensus estimate of $4.83B. Comparable retailer gross sales grew 5% year-over-year.
“We continue to face macroeconomic volatility, persistent inflation, and more recently, geopolitical uncertainty. In addition, we are up against our most difficult quarterly sales comparisons versus 2022 in the fourth quarter. As a result, we believe it is prudent to maintain a cautious approach in forecasting our business and are reiterating our prior sales guidance for the fourth quarter,” mentioned CEO Barbara Rentler.
For This fall/24, the corporate expects EPS to be within the vary of $1.58-$1.64, in comparison with the consensus estimate of $1.62.
For the total 12 months, the corporate sees EPS at $5.30-$5.36, in comparison with the consensus of $5.25.
