Shares of Ross Stores Inc. (ROST) have advanced more than 3% in afternoon trade after the company offered an upbeat outlook.
The retailer expects fiscal third-quarter earnings of 57 cents to 63 cents per share, which is higher than the Zacks Consensus Estimate of 56 cents.
Moreover, Ross also expects earnings to range between $3.00 and $3.12 per share for the year ending Jan 2010.
The guidance is higher than the Zacks Consensus Estimate of $3.00 per share, which has moved up by 18 cents over the past month.
Meanwhile, the company reported fiscal second-quarter earnings of 82 cents per share, matching the Zacks Consensus Estimate.
Sales expanded 8% to $1.77 billion, while same-store sales recorded a growth of 3%.
ROST, a Zacks #2 Rank (“Buy”) stock, is trading on higher-than-usual volume of approximately 2.1 million, against the average daily volume of about 1.9 million.
“ROST” Free Stock Analysis: Buy? Sell? Hold?
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