Discount retailer, Ross Stores, Inc. (ROST) reported increase profits for the fourth quarter, which were in line with analysts estimates.
The Pleasanton, CA based company reported fourth quarter earnings of $236.6 million, or $1.07 per share, up 19% from $191.95 million, or 85 cents per share last year. Analysts expected earnings of $1.07 per share.
Fourth quarter revenue was $2.76 billion, up 15% from $2.4 billion last year. Analysts expected to see $2.75 billion in revenue. Comparable store sales increased 5% from last year.
The company CEO Michael Balmuth commented, “results for both periods benefited from our ongoing ability to deliver compelling bargains on a wide assortment of exciting name brand fashions for the family and the home to today’s value-focused consumers.”
For FY2012, Ross reported earnings of $786.76 million, or $3.53 per share, a 16% increase from $657.17 million, or $2.86 per share in 2011. Revenue for 2012 increased by 13% to $9.720 billion, from $8.71 billion in 2011. Analysts expected to see earnings of $3.53 with $9.69 billion in revenue.
Ross shares were mostly flat during Thursday morning trading. The stock has been mostly flat in the past year.
The Bottom Line
Shares of Ross Stores, Inc. (ROST) have a 1.20% yield, based on Thursday morning’s price of $56.55.
Ross Stores, Inc. (ROST) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.