Ross Stores (ROST) Tops Q4 EPS by 6c

Ross Stores (NASDAQ: ROST) reported Q4 EPS of $1.04, $0.06 better than the analyst estimate of $0.98. Revenue for the quarter came in at $5.02 billion versus the consensus estimate of $4.97 billion.

Fiscal 2022 Outlook

Looking ahead, Ms. Rentler commented, “Fiscal 2022 is extremely difficult to predict, especially early in the year. In addition to the ongoing Omicron surge that began just before Christmas, we are up against last year’s record government stimulus and the lifting of COVID restrictions that led to unprecedented consumer demand which fueled extraordinary sales gains in the Spring of 2021.”

She continued, “For the 52 weeks ending January 28, 2023, comparable store sales are forecast to be flat to up 3% versus a 13% gain in fiscal 2021. Earnings per share for fiscal 2022 are projected to be $4.71 to $5.12 compared to $4.87 in the prior year. This guidance reflects our expectation for sales and profitability to improve as we move through the year.”

Ms. Rentler added, “While we hope to do better, given the aforementioned stimulus benefits and strong pent-up demand early last year, we are forecasting comparable store sales to be down 2% to down 4% on top of a 13% gain for the 13 weeks ended May 1, 2021. Earnings per share for the 2022 first quarter are projected to be $0.93 to $0.99 versus $1.34 in the prior year period, as we face larger headwinds from higher freight and wage costs early in the year.”

For earnings history and earnings-related data on Ross Stores (ROST) click here.

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