Ross Earnings Up
First-quarter per-share earnings grew by 7% at
Ross Stores
(ROST) - Get Report
, in line with sales, the apparel retailer reported on Tuesday.
In its quarter ended May 3, Ross earned $49.3 million, or 63 cents a share. That was up from the prior-year quarter, when the Newark, Calif.-based retailer earned $47.7 million, or 59 cents a share.
Overall sales rose 7.3% year-over-year to $879.3 million. On a comparable-store basis, which compares results at like outlets open more than one year, sales fell 3%.
The company's earnings met analysts' expectations, according to Thomson First Call.
For the second quarter, Ross expects to earn 66 cents to 70 cents a share. Analysts were expecting Ross to post 68 cents a share for the current quarter. In the second quarter last year, Ross earned 62 cents a share.
Ross shares closed up 28 cents, or 0.7%, to $39.62.