$ROST (+0,34ย %) | Ross Stores Q3 Earnings Highlights:
๐น Adjusted EPS: $1.48 (Est. $1.40) ๐ข; UP +11% YoY
๐น Revenue: $5.07B (Est. $5.15B) ๐; UP +3% YoY
๐น Comparable Store Sales: +1% YoY
Q4 Guidance:
๐น Revenue: $5.97B (Est. $5.97B) ๐ก
๐น Adjusted EPS: $1.57-$1.64 (Est. $1.67) ๐ด
๐น Comps: +2% to +3%
FY24 Guidance:
๐น EPS: $6.10-$6.17 (Est. $6.00-$6.13) ๐ข; UP +10-11% YoY
Key Metrics:
๐น Operating Margin: 11.9% (Est. 11.1%) ๐ข; UP from 11.2% last year
๐น Merchandise Inventory: $2.86B; UP +9% YoY
Business Highlights:
๐ธ Cost savings from lower freight, incentive, and distribution expenses supported margins.
๐ธ Hurricanes and unseasonably warm weather impacted sales performance.
Capital Allocation:
๐น Share Repurchases: 1.8M shares for $262M in Q3; on track for $1.05B in FY24 repurchases under the $2.1B two-year program.
๐น Quarterly Dividend: $0.34 per share.
Management Commentary:
๐ธ CEO Barbara Rentler:
"Sales slowed from earlier 2024 gains due to high costs pressuring discretionary spending and execution challenges in merchandising."
๐ธ "Margins exceeded expectations, reflecting operational efficiencies."