Earnings Summary: Ross Stores’ Q1 2024 Financial Performance Overview
Friday, 24 May 2024, 14:02
Earnings Summary: Highlights of Ross Stores' Q1 2024 results
Ross Stores Inc. (NASDAQ: ROST), which operates a chain of off-price apparel and home accessories stores, has announced results for the first quarter of 2024.
Key Highlights:
- Net Income: Rose to $488 million in Q1 2024 from $371 million in the same period in 2023.
- Total Sales: Recorded $4.86 billion, up from $4.49 billion in the previous year.
- Operating Margin: Improved by 205 basis points to 12.2%.
- Stock Repurchase: Company repurchased 1.9 million shares for $262 million.
- Guidance: Anticipates comps to grow by 2-3% in Q2 with EPS ranging from $1.43 to $1.49.
- Full-Year Outlook: Forecasts EPS between $5.79 and $5.98 compared to $5.56 in fiscal 2023.
The post Earnings Summary: Highlights of Ross Stores' Q1 2024 results first appeared on AlphaStreet.
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