Ross Stores GAAP EPS of $1.04 beats by $0.06, revenue of $5.02B beats by $70M

• Ross Stores press release (NASDAQ:ROST): Q4 GAAP EPS of $1.04 beats by $0.06.
• Revenue of $5.02B (+18.1% Y/Y) beats by $70M.
• Comparable store sales up 9% versus the same period in 2019.
• FY 2022 Guidance: CEO Barbara Rentler said “For the 52 weeks ending January 28, 2023, comparable store sales are forecast to be flat to up 3% versus a 13% gain in fiscal 2021. Earnings per share for fiscal 2022 are projected to be $4.71 to $5.12 compared to $4.87 in the prior year. This guidance reflects our expectation for sales and profitability to improve as we move through the year.”
• Q1 2022 Guidance: “While we hope to do better, given the aforementioned stimulus benefits and strong pent-up demand early last year, we are forecasting comparable store sales to be down 2% to down 4% on top of a 13% gain for the 13 weeks ended May 1, 2021. Earnings per share for the 2022 first quarter are projected to be $0.93 to $0.99 versus $1.34 in the prior year period, as we face larger headwinds from higher freight and wage costs early in the year.”

Comments

[user1416]

Ross has averaged a little over 7% in the last 5yrs and a little over 9% in the last 7yrs. They stopped being a growth stock a while ago. I finally exited after close to 9 years. I think one can find much better returns with less risk these days.

[Kingkang80]

Sandbagging guidance again. Like clockwork

[MoneyWalks]

If Barbara Rentler ever says anything positive about the future in a Ross earnings call, I might fall over in a faint. And yet the company just keeps raking in the profits.

[sbally4]

ROST is a keeper. Dividend raise too, not yet on SA.