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Ross Stores Earnings: ROST Stock Dips 3% Following Q4 Beat

ROST beat out EPS and revenue estimates

Ross Stores (NASDAQ:ROST) earnings for the discount department store chain’s fiscal fourth quarter of 2019 have ROST stock on the move after-hours Tuesday. This comes after reporting diluted earnings per share (EPS) of $1.28 on revenue of $4.41 billion. These both come in above Wall Street’s estimates of $1.25 per share and revenue of $4.36 billion.

Ross Stores Earnings: ROST Stock Dips 2% Following Q4 Beat
Source: Andriy Blokhin / Shutterstock.com

Let’s take a more thorough look at the most recent Ross Stores earnings report.

  • Diluted EPS for the quarter comes in 6.67% higher than $1.20 in the same period of the year prior.
  • Revenue is sitting up 7.3% from the $4.11 billion during the fiscal fourth quarter of 2018.
  • The Ross Stores earnings report also includes a net income of $456.13 million.
  • That’s a 3.27% increase compared to the company’s net income of $441.69 million during the same time last year.

Barbara Rentler, CEO of Ross Stores, said this about the ROST stock earnings report:

“We delivered strong sales and earnings growth for both the fourth quarter and fiscal year. Our ongoing ability to offer compelling bargains to our customers enabled us to achieve these results despite our own challenging multi-year comparisons and a fiercely competitive holiday season.”

The Ross Stores earnings report also contains its outlook for the fiscal full year of 2020. This has it expecting diluted EPS between $4.67 and $4.88, while Wall Street’s estimate is for diluted EPS of $5.01 during the year.

ROST stock was down 2.95% after markets closed on Tuesday, and finished the day down 2.46%.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/ross-stores-earnings-bump-rost-stock/.

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