Ross Stores posts drop in Q2 sales and earnings

For the 13 weeks ended August 1, 2020, Ross Stores Inc. reported earnings per share of 6 cents on net income of 22 million dollars compared to 413 million dollars or 1.14 dollars last year. Total sales for the period were 2.7 billion dollars down from 4 billion dollars in the second quarter of 2019, while comparable store sales were down 12 percent for reopened stores. Ross Stores said in a statement that both sales and earnings for the second quarter and first half periods reflect the Covid-19 related closures of all Ross Dress for Less and Dd’s Discounts locations that began on March 20th and continued through a portion of the second quarter.