Ross Stores Beat Forecasts, Reports Higher Revenue, Earnings

Ross Stores Beat Forecasts, Reports Higher Revenue, Earnings

On Thursday, Ross Stores posted an above expectations revenue and earnings for the Q2 of the year. The company posted earnings per share -$0.13 as compared to the experts’ forecast of -$0.28 and reported revenue of $2.68 billion while the analysts’ predicted $2.46 billion.

The discount store US-based firm followed the footholds of companies like Visa A and Amazon Inc., which also beat the market and expert anticipations. Amazon reported an EPS of $10.3, much more than the predicted $1.48 earnings per share and revenue of $88.91 billion as compared to $81.45B forecast.

Similarly, Visa A, the payment organisation, beat market expectations and reported the financial statements for the third quarter on 28th July, with EPS of $1.06 and revenue of $4.84 billion as compared to experts’ prediction of $1.03 EPS and $4.82 billion revenue.

Meanwhile, Ross Store’s stock prices are trading at $87.55, which is down from the 52-week high, and still 24% down from the starting of the year 2020. The company is performing worse than the US market measurer, NASDAQ, which is now surged 25.55% from the beginning of the year.

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