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Michael Balmuth

Ross Stores Profit Falls; Offers Cautious Outlook

Ross Stores, Inc. reported late Thursday its fourth-quarter profit fell to $218 million, or $1.02 a share, from $236.6 million, or $1.07 a share, a year ago. Revenue for the three months ended Feb. 1 fell to $2.74 billion from $2.76 billion. Analysts surveyed by FactSet had expected the retailer to earn $1.01 a share on $2.75 billion in revenue. Ross Stores CEO Michael Balmuth, citing "ongoing uncertainty in the macro-economic and retail climates", said the company was offering a "somewhat cautious" outlook. For 2014, he said the company expects to see same-store sales growth of 1% to 2% and full-year earnings of $4.05 to $4.21 a share. Ross Stores shares were down 1.1% at $71.51 in after-hours trade.Copyright © 2014 MarketWatch, Inc....

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