Ross Stores Posts Mixed Q1 Earnings, Warns Inflationary Pressures Could Hit Customer Spending
Portfolio Pulse from Shivani Kumaresan
Ross Stores reported Q1 FY23 sales growth of 3.7% YoY to $4.49 billion, slightly missing the analyst consensus estimate of $4.50 billion. EPS of $1.09 beat the consensus of $1.06. The company warned that prolonged inflationary pressures could negatively impact customer spending.
May 19, 2023 | 11:26 am
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Ross Stores' Q1 FY23 sales growth of 3.7% YoY slightly missed estimates, but EPS beat expectations. The company warned of inflationary pressures impacting customer spending.
Ross Stores' Q1 sales growth was slightly below estimates, but the EPS beat expectations. The company's warning about inflationary pressures impacting customer spending could create uncertainty in the short term, leading to a neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100