Description
Ross Stores, Inc. exceeded analyst expectations in terms of revenue as well as earnings, reaching 11.2% for the period, up from 9.8% the previous year. The increase was attributed to leverage from same-store sales gains and reduced freight costs, although higher incentives and store wages partially offset these gains. Total sales for the quarter reached $4.9 billion, up from $4.6 billion, with a 5% gain in comparable store sales. Sales for the year-to-date period reached $14.4 billion, showing a 4% increase in comparable store sales over the previous year. Cosmetics, accessories, and shoes stood out in the third quarter, while geographic results were broadly positive. During the third quarter, Ross Stores completed its 2023 expansion program by adding 43 new Ross and 8 dd’s DISCOUNTS locations, totaling 97 new stores for the year. The company is on track to end the year with 1,764 Ross stores and 345 dd’s DISCOUNTS, reflecting a net increase of 94 stores. For the fourth quarter, Ross Stores maintained a cautious outlook due to macroeconomic volatility, persistent inflation, and geopolitical uncertainty.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures
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