Ross Stores, Inc. (NASDAQ:ROST) on Thursday reported better-than-expected second-quarter financial results.
Ross Stores beat estimates on the top and bottom lines in the second quarter, reporting revenue of approximately $6.27 billion versus estimates of $6.18 billion and earnings per share of $2.66 versus estimates of $1.94.
Jim Conroy, CEO of Ross Stores, said, "Our performance was fueled by our compelling merchandise offerings, engaging marketing initiatives, and continued enhancements to the in-store experience. We were pleased to see strength throughout the quarter."
Ross Stores raised its full-year earnings per share guidance from a range of $7.50 to $7.74 to a new range of $8.61 to $8.77 versus estimates of $7.79. The company guided for third-quarter earnings per share of $1.75 to $1.83 and fourth-quarter earnings of $2.17 to $2.26. Both quarterly guidance ranges are above current analyst expectations.
Ross Stores shares jumped 9.1% to $249.68 in pre-market trading.
