Ross Stores' Q3 FY24 earnings beat expectations despite below-plan sales [Yahoo! Finance]
Ross Stores, Inc. (ROST)
Last ross stores, inc. earnings: 3/3 04:01 pm
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Source: Yahoo! Finance
For Q3 ending 2 November 2024, Ross Stores' sales rose by 2.9% to $5.07bn from $4.92bn, marking a year-over-year (YoY) increase with comparable store sales growing by 1%. Ross Stores chief executive officer Barbara Rentler said: “Despite the below-plan sales results, earnings were ahead of our expectations. Operating margin for the quarter was 11.9%, up from 11.2% last year, as lower incentive, freight, and distribution costs more than offset the planned decline in merchandise margin.” Rentler added: “We are disappointed with our third quarter sales results as business slowed from the solid gains we reported in the first half of 2024. “Although our low-to-moderate income customers continue to face persistently high costs on necessities pressuring their discretionary spending, we believe we should have better executed some of our merchandising initiatives. In addition, a combination of severe weather during the quarter from Hurricanes Helene and Milton, along with unseasonably w
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ROST
Earnings
- 11/21/24 - Beat
ROST
Sec Filings
- 12/11/24 - Form 10-Q
- 12/4/24 - Form 4
- 12/4/24 - Form 3
- ROST's page on the SEC website