Ross Stores Sees Fiscal Year Comp Sales Rising Between 7% and 9% From 2019

By Allison Prang

Ross Stores Inc.'s chief executive said the company is expecting comparable-store sales for this fiscal year to increase 7% to 9% compared to 2019.

CEO Barbara Rentler said in prepared remarks that Ross expects between $3.93 a share and $4.20 a share in earnings for the fiscal year. According to FactSet, analysts are expecting earnings to be around the high end of that range.

The retailer expects second-quarter same-store sales to rise between 5% and 7%, also compared to 2019, and for earnings to be between 80 cents a share and 89 cents a share, Ms. Rentler said. That would be lower than they were in 2019 and is less than what analysts are expecting, according to FactSet.

"Our results and the clear improvement in the macroeconomic environment make us optimistic about our prospects for the balance of the year," Ms. Rentler said. "That said, it is difficult to precisely predict the lasting impact from the factors that benefited our first quarter sales results, especially the recent government stimulus payments."

Write to Allison Prang at [e-mail]

(END) Dow Jones Newswires

05-20-21 1648ET