Ross Stores' increased 1Q profit spurs for better forecasts

Ross Stores' increased 1Q profit spurs for better forecasts

Ross Stores, Inc. (NASDAQ: ROST), a chain of American off-price department stores, announced increase in sales, thus forecasting larger-than-expected second-quarter profit.

The company’s first quarter profit constituted $79.5 million, while its sales increased to $1.56 billion, compared to sales of $1.41 billion the previous year. The chain’s profit was $67 million in the same quarter a year earlier.

Ross Stores predicted that its second-quarter earnings per share would be between 43 cents and 47 cents.

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