By Aisha Al-Muslim
Ross Stores Inc. (ROST) continued Thursday's after-hours trading slide after the off-price retailer gave an outlook for the current period that fell short of analysts' estimates.
Shares of Ross fell about 2%, to $92.65, in morning trading Friday. The stock is up about 12% in the last 12 months.
For the second quarter, ending Aug. 3, Ross expects quarterly earnings per share of $1.06 to $1.11, missing analysts' expectations of $1.14 a share. The company also guided for same-store sales to be up 1% to 2%, down from a 5% gain last year.
Ross raised the range on its full-year fiscal earnings guidance. For the current fiscal year ending Feb. 1, 2020, the retailer now expects earnings per share of $4.38 to $4.52, compared with its prior estimate of $4.30 to $4.50.
For the first quarter, the Dublin, Calif.,-based company reported a profit for the first quarter of $421 million, or $1.15 a share, up from $418 million, or $1.11 a share, a year earlier. Analysts polled by Refinitiv were looking for $1.12 a share.
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