Ross Stores records increase in Q3 earnings

Ross Stores earnings per share increased to 1.48 dollars in the third quarter and net income rose to 489 million dollars. Sales for the quarter increased to 5.1 billion dollars, with a comparable store sales gain of 1 percent.

For the nine months, earnings per share rose to 4.53 dollars on net earnings of 1.5 billion dollars and sales were 15.2 billion dollars, with comparable store sales up 3 percent over the prior year.

Commenting on the financial results, Barbara Rentler, the company’s chief executive officer, said in a statement: “We are disappointed with our third quarter sales results as business slowed from the solid gains we reported in the first half of 2024. Despite the below-plan sales results, earnings were ahead of our expectations.”

Commenting on the outlook, Rentler said: “For the 13 weeks ending February 1, 2025, we continue to project comparable store sales to increase 2 percent to 3 percent. Earnings per share are planned to be in the range of 1.57 dollars to 1.64 dollars.”

“Based on our year-to-date results and fourth quarter forecast, earnings per share for the 52 weeks ending February 1, 2025 are now expected to be in the range of 6.10 dollars to 6.17 dollars versus 5.56 dollars last year,” Rentler added.