Ross Stores is a prominent off-price retailer that operates a chain of stores offering a diverse selection of brand name and designer merchandise at discounted prices
The company specializes in apparel, home goods, and accessories, providing customers with a treasure-hunt shopping experience. By purchasing excess inventory from manufacturers and other retailers, Ross Stores is able to pass significant savings onto consumers, appealing to budget-conscious shoppers. The company operates under two distinct brand names, Ross Dress for Less and dd's Discounts, ensuring a wide reach in the off-price retail sector across various markets.
Telsey Advisory analyst Dana Telsey maintained a Market Perform rating on Ross Stores and reduced the price target from $175 to $150. Despite reporting a slight drop in 4Q24 EPS, the company outperformed earnings expectations, driven by a one-time gain. However, the FY25 outlook and 1Q25 guidance fell short of consensus due to slowed sales growth and challenges with lower-income consumers.
The three major indices were mostly flat in midday trading Wednesday with the S&P 500 and Nasdaq slightly under the flatline and the Dow Jones up 39 points.
A head-fake in the final hour looked like it might resurrect an otherwise sour trading day, but headed back south even as it closed off the morning lows.
Off-price retail company Ross Stores (NASDAQROST) met Wall Street’s revenue expectations in Q4 CY2024, but sales fell by 1.8% year on year to $5.91 billion. On the other hand, next quarter’s revenue guidance of $4.79 billion was less impressive, coming in 6.9% below analysts’ estimates. Its GAAP profit of $1.79 per share was 7.9% above analysts’ consensus estimates.
U.S. stocks plunged Tuesday as President Donald Trump‘s tariffs on key trade partners came into effect, prompting retaliatory measures and intensifying global trade tensions.
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