Ross Stores Cuts Q4 Guidance (ROST)

Tony Sagami (Harvest Advisors) submits: When I hear discounter retailers, like Ross Stores, complain about business, it tells me that something is very wrong. Ross Stores cut its Q4 and fiscal 2006 guidance and warned the Jack-and-the-beanstalk crowd to tone down its expectations.

Ross Stores now expects to make 44-47 cents of Q4 profits, which is below the 45-48 it has previously forecast. For the year ending in February, Ross expects to earn $1.60 to $1.70, well below the $1.77 Wall Street is expecting.

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