Why Shares of Ross Stores Jumped Today
Shares of Ross Stores (NASDAQ: ROST) surged on Friday after the retailer reported better-than-expected second-quarter results. As of 11:30 a.m. EDT, the stock was up 9%.
Ross Stores reported second-quarter revenue of $3.43 billion, up 8% year over year and $60 million higher than the average analyst estimate. Comparable sales rose 4% year over year, on top of a 4% increase during the prior-year period. "We are pleased with the better-than-expected growth we delivered in both sales and earnings in the second quarter, especially given our strong multi-year comparisons and today's volatile retail climate," said Ross Stores CEO Barbara Rentler.
Image source: Ross Stores.
Source: Fool.com
Ross Stores Inc. Stock
€217.70
-0.770%
The stock is an absolute favorite of our community with 41 Buy predictions and no Sell predictions.
On the other hand, the target price of 209 € is below the current price of 217.7 € for Ross Stores Inc., so the potential is actually -4.0%.
