Plus   Neg

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Crate and Barrel have recalled 1,500 push walkers due to risk of choking and laceration. Crate and Barrel have recalled Activity Push Walkers as those walkers can be damaged over time exposing sharp points and small parts, posing choking and laceration hazards to small children. The wooden recalled... YouTube is finalizing plans under which it will no longer serve "targeted" advertisements on its main site for videos meant for kids, Bloomberg reported, citing people familiar with the discussion. While the plan is reportedly intended to satisfy U.S. regulators, it could negatively impact the Google-owned video giant's ad sales as kids' content on YouTube is immensely popular. Apple Inc. (AAPL) is in the final stages of certifying advanced flexible Organic Light Emitting Diode or OLED screens from Chinese display maker BOE Technology Group for iPhones next year, the Nikkei Asian Review reported citing source. The U.S. tech giant has been attempting to reduce reliance on Samsung Electronics of South Korea.
Follow RTT