Ross Stores (ROST) 2Q17 Results: Beats Estimates and Raises Guidance

Executive Summary

• Ross Stores reported 2Q17 EPS of $0.82, up 15.3% from $0.71 in the year-ago quarter and beating the $0.77 consensus estimate. Revenues were $3.43 billion, up 7.9% year over year and beating the consensus estimate of $3.37 billion.
• Comp sales increased by 4%, ahead of the 2.0% consensus estimate and following 4% comps in the year-ago quarter.
• The company guided for comp growth of 1%–2% for 3Q17 and 4Q17. Ross Stores raised its full-year EPS guidance to $3.16–$3.23, up from $3.07–$3.17 previously and representing a 12%–14% increase year over year.