The off-price retailer also benefited from improved product availability and steady momentum across key merchandise categories.Strong Traffic Drives Quarterly ResultsOn Thursday, the company reported first-quarter results, with sales soaring 21% year over year and comparable-store sales up 17%.BTIG analyst Robert Drbul reiterated a Neutral rating on the stock, citing that traffic was the clear driver, with double-digit growth in customer count across income levels and age cohorts, including younger consumers.According to Drbul, modern marketing efforts are driving incremental traffic, while merchants continue to benefit from the strong availability of closeout products and improved vendor access.The analyst highlighted that ladies’ and cosmetics led the business, and trends remained consistent through the quarter following a strong start in February and steady mid-teen comps thereafter.Analyst Raises Earnings EstimatesThe analyst raised the 2026 EPS estimate to $7.70.Drbul expects Ross Stores to deliver high-single-digit sales growth this year, with comparable sales rising 6.5%.The analyst also raised fiscal 2027 EPS estimates to $8.40, expecting margin expansion and SG&A leverage alongside mid-single-digit revenue growth.Drbul expects operating margin expansion to contribute modest annual EPS growth through stronger gross margins and expense discipline.The analyst also sees share repurchases supporting EPS growth, but prefers a better entry point with shares near 52-week highs.Wall Street Remains BullishThe stock carries a Buy rating with an average price forecast of $248.50. Recent analyst moves include: