Home / Markets / Industries / Retail
Thursday, November 19, 2009
Ross Stores Reports 83% Rise in Earnings
FOXBusiness
Ross Stores (ROST) reported an 83% rise in fiscal third-quarter earnings and raised its targets for the year to$3.27 to $3.33 a share, up from October's view of $3.18 to $3.26. Thomson Reuters analysts have predicted $3.37 per share.
Profits at Ross totaled $105.1 million, or 84 cents a share, up from $57.3 million, or 44 cents a share, in the year prior. The top-selling categories for Ross, which also operates Ross Dress for Less and dd's Discount stores, were dresses and shoes.
The business model of Ross Stores is that of a surplus buyer, as the company purchases excess merchandise from department stores and sells it at a discount. Discount stores have thrived during the recession, and Ross, which is the second-largest discounter behind TJX (TJX), is no exception.
Fox Business Video
-
-
Euro Debt Could Boost Gold
-
Feb 9, 2010
FOXBusiness.com LIVE
-
-
-
Health-Care Reform vs. Job Creation
-
Feb 9, 2010
Question of the Day
-
-
-
Ron Paul on Stimulus
-
Feb 9, 2010
Future of government bailouts?
-
-
-
U.S. No Longer the Space Explo...
-
Feb 9, 2010
Future of space program
-
-
-
Toyota Will Recover
-
Feb 9, 2010
Will the auto manufacturer bounce back?
-
Last 5 Stocks
- Ticker
- Company
- Price
- Change