Ross Stores, Inc. (ROST) Thursday reported first-quarter net income of $476.5 million or $1.34 per share, compared to net loss of $305.8 million or $0.87 per share last year.
Sales for the quarter grew to $4.52 billion from $1.84 billion last year.
Analysts polled by Thomson Reuters expected earnings of $0.88 per share on revenues of $3.87 billion for the quarter. Analysts' estimates typically exclude one-time items.
The company authorized a new program to repurchase up to $1.5 billion of its common stock through fiscal 2022, with plans to buy back $650 million this year and $850 million in 2022.
Looking forward, the company expects earnings of $0.80 to $0.89 and $3.93 to $4.20 per share for the second quarter and full year 2021, respectively. Analysts currently estimate earnings of $1.03 and $4.22 per share, for the second quarter and full year 2021, respectively.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.