Ross Shops are nonetheless rising — even when buyers aren’t shopping for ladies’s clothes there.
The off-pricer introduced first-quarter earnings for fiscal 12 months 2019 Thursday after the bell, enhancing on each prime and backside traces.
Revenues grew 6 % throughout the quarter to $3.79 billion, up from $3.58 billion throughout 2018’s first quarter. Web revenue was additionally as much as $421 million, in contrast with $418 million final 12 months.
As well as, same-store comps improved for the chain retailer, which operates greater than 1,500 shops Ross Shops and 243 dd’s Reductions shops. The corporate stated it was planning on opening roughly 28 new shops, together with 22 Ross Retailer places and 6 dd’s Reductions within the close to time period.
However traders weren’t impressed. A mixture of disappointing gross sales in girls attire and barely lower-than-expected earnings per share expectations for the second quarter precipitated shares to fall by greater than Three % throughout after-hours buying and selling.
“For the first quarter, we delivered sales gains at the high end of our guidance as well as better-than-expected earnings-per-share growth despite continued underperformance in ladies apparel,” Barbara Rentler, chief govt officer of Ross, stated in a press release.
The ladies’s part of a Ross Retailer in Hawaii.
Shutterstock / Eric Broder Van Dyke
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