Ross Stores Jumps 4.4% After Q2 Profit Rises 32% to $2.06 a Share
Updated
Updated · Investor's Business Daily · Aug 21
Ross Stores Jumps 4.4% After Q2 Profit Rises 32% to $2.06 a Share
3 articles · Updated · Investor's Business Daily · Aug 21
Summary
Ross Stores shares climbed about 4.4% Friday, pushing the discount retailer close to clearing a buy point after its earnings report.
Second-quarter profit rose 32% from a year earlier to $2.06 a share, while revenue increased 13% to $6.26 billion.
Wall Street expectations were lower, making the earnings beat the main driver of the post-results surge.
The move puts renewed focus on Ross Dress for Less, Ross Stores' core off-price chain, as investors reward stronger-than-expected consumer retail performance.