Ross Stores, Inc. (NYSE: ROST) 2Q19 Results: Delivers Respectable Gains and Plans to Open 42 Stores in 3Q

Executive Summary

• Ross Stores 2Q19 revenues were $3.78 billion, lower than the consensus estimate of $3.96 billion and up 6.5% year over year. The company reported 2Q19 adjusted EPS of $1.14, higher than the consensus estimate of $1.11 and up from $1.04 last year.
• Comparable sales were up 3%, especially impressive given last year’s strong quarterly comparison of 5%.
• The company raised 2019 full year EPS guidance to $4.41-4.50, up from $4.26, compared to the consensus estimate of $4.52. The company expects third quarter earnings per share to be $0.92-0.96, up from $0.91 in the prior year and compared to the consensus estimate of $1.00.