Ross Stores Q2 Results Top Estimates

(RTTNews) - Ross Stores, Inc. (ROST) reported net income for the second quarter of $258.6 million or $0.63 per share, compared to $239.6 million or $0.57 per share for the year-ago quarter.

Sales for the second quarter rose 9% to $2.97 billion from $2.73 billion a year earlier, with same-store sales up 4%.

Analysts polled by Thomson Reuters expected the company to earn $0.62 per share on revenue of $2.94 billion for the second quarter.

Looking forward, the company forecasts earnings per share of $0.48 to $0.50 for the third quarter and $0.60 to $0.63 for the fourth quarter. Analysts currently expect the company to earn $0.50 per share for the third quarter.

For the fiscal year 2015, the company now forecasts earnings of $2.40 to $2.45 per share, compared to its prior guidance of $2.36 to $2.44 per share. Analysts currently expect the company to earn $2.45 per share for the fiscal year 2015.