Ross Stores Sees Higher Earnings in December (ROST)

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 DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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