Ross Stores, Inc. (NASDAQ:ROST) released its second-quarter results after Thursday's closing bell. Here's a look at the details in the report.
The Details: Ross Stores reported quarterly earnings of $1.56 per share, which beat the analyst estimate of $1.53.
The company reported an approximate 11 cent per share negative impact from tariff-related costs.
Quarterly revenue of $5.52 billion missed the Street estimate of $5.57 billion and is up from revenue of $5.28 billion from the prior year’s quarter.
Read Next: The Next Warren Buffett? Opendoor Pumper Plans ‘Mini-Berkshire’ For ‘Retail Folks’
“We are encouraged by the tone of the business in the second quarter and feel we are well-positioned as we begin the third quarter. However, given the uncertainty associated with the macroeconomic environment, we will maintain a somewhat cautious approach to planning our business for the balance of the year,” said Jim Conroy, CEO of Ross Stores.
Outlook: Ross Stores is looking for third-quarter GAAP EPS of $1.31 to $1.37, versus the $1.49 analyst estimate. The company sees fourth-quarter GAAP EPS of $1.74 to $1.81, versus the $1.71 analyst estimate.
ROST Stock Price: According to data from Benzinga Pro, Ross Stores stock was up 2.23% at $148.87 in Thursday's extended trading.
Read Next:
Photo: Shutterstock
