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Ross Stores Stock Declines on Meek Q3 and Q4 Outlook

ROST stock fell about 4.3% after the bell Thursday

Ross Stores stock (NASDAQ:ROST) had a mixed quarterly earnings showing that sent shares sliding as its profit topped expectations but its guidance for the current quarter missed the mark.

Ross Stores StockThe discount department store chain said that for its second quarter of fiscal 2018, it brought in net earnings of roughly $389.4 million, or $1.04 per share. The figure beat the company’s year-ago net income of 82 cents per share.

Analysts were calling for Ross Stores to amass earnings of $1.01 per share, according to data compiled by FactSet. Its revenue for the period came in at $3.74 billion, ahead of the $3.43 billion it raked in during the year-ago quarter.

The Wall Street consensus estimate was forecasting the company to bring in revenue of $3.43 billion for its third quarter, according to a survey conducted by FactSet. However, Ross Stores still underwhelmed as its third- and fourth-quarter guidances are well below what analysts are projecting.

The chain sees its third-quarter earnings as being in the range of 84 cents to 88 cents per share, while its fourth quarter is expected to yield between $1.02 and $1.07 per share. Analysts polled by FactSet predicts earnings of 88 cents per share and $1.09 per share for the company’s third and fourth quarters respectively.

ROST stock gained about 1.7% during regular trading hours Thursday before declining 4.3% after the bell on its weak fourth-quarter guidance.

Article printed from InvestorPlace Media,

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