Ross Stores’ Q4 Report Beats Estimates Again
TipRanks | Mar 02, 2015 06:49AM ET
Ross Stores Inc (NASDAQ:ROST), a discount chain department store with over 1,200 locations across the Unites States, released its fourth quarter and fiscal year 2014 results on February 26th.
Ross Stores reported fourth quarter earnings per share of $1.20 on a diluted basis, above the analyst consensus of $1.11 and representing an 18% year-over-year increase. The report posted fourth quarter sales revenue of $3.03 billion, beating the analyst consensus of $2.93 billion and rising 11% from the same quarter of last year. Ross Stores also announced a new $1.4 billion stock repurchase program through fiscal year 2016 and an 18% increase in quarterly cash dividend to $0.235 per share.
CEO Barbara Rentler commented, “We are pleased with our fourth quarter sales and earnings, both of which were well ahead of our expectations.” However, Rentler remained wary when offering the company’s 2015 guidance noting, “As we enter 2015, we continue to face ongoing uncertainty and volatility in the macro-economic and retail climates. While we hope to do better, based on these external factors and our own challenging multi-year sales and earnings comparisons, we are remaining somewhat cautious in our outlook.” Ross Stores forecasts earnings per share for the first quarter 2015 between $1.21 and $1.26.
On February 27th, analyst TipRanks is Moderate Buy.
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