Ross Stores, Inc. (
ROST) recently posted October sales of $557 million, a 14% year-over-year increase. Same store sales jumped 9%. The company also hiked its third-quarter guidance.
Management said both sales and margins were well ahead of expectations, adding that Shoes, Dresses and Home remained the top-performing categories, while the Southwest, Southeast and California were the strongest regions.
The company upped its third-quarter earnings guidance to a range of 83 to 84 cents per share from a previous range of 75 to 77 cents per share.
The Zacks Consensus Estimate currently stands at 77 cents. With Ross reporting strong sales and hiking its outlook just a couple days ago, analysts polled by Zacks are bound to raise their projections soon.
Results for the third quarter are scheduled for release on November 19.
Checkout the October 22 commentary on ROST.
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