Ross Stores Surges 9% After Lifting Full-Year Profit Outlook
ROST sits 74% above its 52-week low of $143.39 on elevated volume (2.1× avg).
Summary
Ross Stores raised its full-year EPS guidance to $8.61-$8.77, up from $7.50-$7.74, and projected Q3 and Q4 comp sales growth well above analyst expectations. The stock jumped nearly 9% in premarket trading Friday, adding to a 27% year-to-date gain. This follows Thursday's Q2 report showing 13% sales growth and EPS of $2.66, which included a $0.60 tariff refund benefit. At least four brokerages, including J.P.Morgan and Barclays, raised price targets. The guidance raise signals management confidence in sustained bargain-hunting demand despite a shaky economy, contrasting with rival TJX's recent slowdown at TJ Maxx and Marshalls.
At the time of this announcement, ROST was trading at $249.68 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $73.5B. The 52-week trading range was $143.39 to $257.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.