Ross Stores (NASDAQ:ROST) reported strong results for
Q4 2024 but raised concern over softening sales due to shifts in lower-income customers' preferences. Despite Q4 earnings surpassing estimates, with an income per share(EPS) record of $6.32 for 2024, the retail giant issued a cautious outlook amid economic uncertainties. The company's
forecast for annual sales and profit were below estimates, reflecting weaker demand. This follows troubling consumer trends that are adversely impacting sales. Significant financial institutions like
Oppenheimer & Co. Inc and E Fund Management Co. Ltd. have increased their positions in Ross Stores, but others like Andra AP Fonden have sold off shares. Meanwhile, several analysts have revised the company’s price target down, reflecting lowered expectations for the stock. Despite soft sales outlook, Ross has declared a 10% increase in dividends. The firm also announced its CFO succession plan. The Ross Stores' stock has been turbulent, with analysts predicting lowered future estimates. However, Q1 2025 earnings guidance has been issued alongside FY 2025 guidance.
Ross Stores ROST News Analytics from Thu, 21 Nov 2024 08:00:00 GMT to Sat, 08 Mar 2025 13:11:55 GMT -
Rating -4
- Innovation 0
- Information 8
- Rumor -2
