Source: Company reports
1Q16 RESULTS
Ross Stores reported 1Q EPS of $0.73, in-line with consensus.
Total revenues were $3.09 billion, up 5.1% year over year, versus consensus of $3.12 billion. Comps increased 2%.
Inventory at the end of the period was down 0.3% versus sales growth of 5.1% during the quarter.
2016 OUTLOOK
Management provided 2Q guidance of $0.64 to $0.67 versus consensus of $0.70. Comps are expected to increase 1% to 2% versus consensus of 2.4%.
Full-year guidance was raised to $2.63 to $2.72 from prior guidance of $2.59 to $2.71. Consensus is $2.71.
