Ross Stores Inc. (ROST) Thursday reported first-quarter net earnings of $234.6 million or $1.07 per share, up from $208.6 million or $0.93 per share last year.
First-quarter sales increased 8 percent to $2.54 billion from $2.36 billion last year.
Analysts polled by Thomson Reuters expected the company to earn $1.07 per share on revenues of 2.52 billion for the quarter. Analysts' estimates typically exclude special items.
Looking forward to the second quarter, Ross Stores expects earnings of $0.89 to $0.93 per share. Analysts currently estimate earnings of $0.91 per share for the quarter.
For the full year, the company now project earnings of $3.70 to $3.81 per share, up from its initial guidance of $3.65 to $3.80 per share. Analysts currently estimate earnings of $3.88 per share for the full year.
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