Ross Stores Sees Higher Earnings in December (ROST)
Discount retailer, Ross Stores, Inc.(ROST) reported increased monthly sales for December on Thursday.
The Pleasanton, CA based company reported an 11% increase in store sales ended December 29, 2012. ROST reported sales of $1.276 million, compared to $1.149 billion in 2011.
Comparable store sales increased by 9% in December, adding to a 6% increase from last year.
The company reported sales of $9.049 billion for the eleven months ended December 29, an 11% upside from $8.125 in sales in 2011.
Looking ahead, the company sees EPS for the 14 weeks eneded February 2, 2013 to be in the range of $1.05 to $1.06, up from a prior range of 99 cents to $1.04 per share. The Street estimates EPS of $1.04.
Ross shares were up $2.55, or 4.67% during Thursday morning trading. The stock has increased 20% in the past year.
The Bottom Line
Shares of Ross Stores (ROST) have a 1.03% dividend yield, based on last night’s closing stock price of $54.44. The stock has technical support in the $51 price area. If the shares can firm up, we see overhead resistance around the $57-$60 price levels.
Ross Stores, Inc.(ROST) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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