Ross Stores Stock Drops 10%

(RTTNews) - Ross Stores, Inc. (ROST) fell 10.64 percent to $136.05 on Friday, losing $16.20, possibly in reaction to its first-quarter earnings report released yesterday. While net sales rose to $4.98 billion from $4.86 billion in the same quarter last year, net income declined slightly to $479 million from $488 million.

The stock opened at $134.60 and traded between $129.20 and $139.90 during the session on the Nasdaq. Volume surged to 7.9 million shares, more than double the average daily volume of 3.2 million. Ross Stores closed at $152.25 in the prior session.

Over the past 52 weeks, shares have ranged from $122.36 to $163.60.