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Thursday, Aug 22
Ross Stores +1.8% AH after Q2 beats estimates
- Ross Stores (ROST) +1.8% AH after Q2 earnings and revenue come in above expectations, and raised full-year EPS guidance to $3.80-$3.87 from previous $3.70-$3.81.
- Q2 comparable store sales rose 4% Y/Y.
- Operating margin grew to a record 13.6%, up from 12.8% in the prior year, driven by a 70 bp improvement in cost of goods sold, mainly due to higher merchandise gross margin.
- Issues downside guidance for Q3 and Q4; sees Q3 EPS of $0.75-$0.78 vs. $0.79 consensus and Q4 EPS of $0.99-$1.03 vs. $1.10 consensus.