© 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 proceed to face macroeconomic volatility, persistent inflation, and extra not too long ago, geopolitical uncertainty. As well as, we’re up towards our most tough quarterly gross sales comparisons versus 2022 within the fourth quarter. Consequently, we imagine it’s prudent to take care of a cautious method in forecasting our enterprise and are reiterating our prior gross sales steerage for the fourth quarter,” stated CEO Barbara Rentler.
For This autumn/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 complete yr, the corporate sees EPS at $5.30-$5.36, in comparison with the consensus of $5.25.