Ross Stores' increased 1Q profit spurs for better forecasts

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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