Ross Stores Q2 Earnings Preview and Results
Ross Stores Q2 2024 Earnings Details
Ross Stores Inc. (NASDAQ: ROST), known for its discount retail operations, reported financial results for the second quarter of 2024. The July quarter net income increased to $527.1 million or $1.59 per share, up from $446.3 million or $1.32 in the same period last year.
Sales Performance Metrics
The company posted total sales of $5.29 billion for Q2, compared to $4.93 billion a year prior. Operating margin rose by 115 basis points to 12.5% during this quarter, showcasing strong retail momentum.
Stock Buybacks and Future Projections
- Repurchased 1.9 million shares of common stock for approximately $262 million.
- For Q3, comparable store sales are estimated to rise by 2-3%.
- Q3 earnings per share forecasted between $1.35 and $1.41, compared with $1.33 in the previous year.
- Full fiscal year EPS forecast ranges from $6.00 to $6.13, up from $5.56 in fiscal 2023.
Keep an eye on Ross Stores stock performance in light of these favorable earnings results.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.