Ross Stores, Inc. (NASDAQ: ROST) reported better-than-expected fourth-quarter results on Tuesday.
Ross Stores posted fourth-quarter GAAP earnings of $1.820 per share, beating market estimates of $1.650 per share. The company’s quarterly sales came in at $6.022 billion versus expectations of $5.814 billion, according to data from Benzinga Pro.
Barbara Rentler, Chief Executive Officer, commented, “We are pleased with our fourth quarter sales and earnings results that were well ahead of our expectations. Our above-plan sales were driven by customers’ positive response to our improved assortments of quality branded bargains throughout our stores…Fourth quarter operating margin grew 165 basis points to 12.4%, up from 10.7% in the prior year. This improvement was mainly due to the strong gains …
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