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Ross Stores Q4 Profit Down

Ross Stores, Inc. (ROST) Tuesday reported fourth-quarter net income of $441.7 million or $1.20 per share, down from $450.7 million or $1.19 per share last year.

Sales for the quarter rose to $4.11 billion from $4.07 billion last year. Comparable store sales up 4% over the 13 weeks ended February 3, 2018. This increase was on top of a 5% gain in last year's fourth quarter.

Analysts polled by Thomson Reuters estimated earnings of $1.13 per share and revenues of $4.05 billion.

The company authorized a new program to repurchase $2.55 billion of its common stock over the next two fiscal years. The Board also approved an increase in the quarterly cash dividend to $.255 per share, up 13% over the prior year, payable on March 29, 2019 to stockholders of record as of March 18, 2019.

Looking forward, the company expects earnings of $1.05 to $1.11 per share and $4.30 to $4.50 per share for the first quarter and full year 2019. Analysts currently estimate earnings of $1.18 and $4.51 per share.

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