US Stock Movement | Ross Stores(ROST.US) Gains Over 7% Before Market Open, Annual Earnings Guidance Surpasses Expectations

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Rost Goods (ROST.US) stock rose more than 7% in pre-market trading on Wednesday, trading at $211.80. According to reports, Rost Goods announced strong Q4 earnings and forecasted that its annual sales will surpass Wall Street expectations.

The earnings report showed that same-store sales increased by 9% in the fourth quarter, far exceeding analysts’ forecast of 4.03%; quarterly earnings per share reached $2.00, also higher than the market expectation of $1.90; sales hit a record high of $6.64 billion, surpassing the market forecast of $6.4 billion. Looking ahead, the company expects the annual same-store sales growth rate for the new fiscal year to be between 3% and 4%, with the midpoint exceeding analysts’ average expectation of 3.05%.

In a statement on Tuesday, Rost Goods said, “We are encouraged by our strong business performance and confident in the strategic priorities set for this year.” CEO Jim Conroy stated, “With a healthy balance sheet, disciplined execution, and a clear focus on delivering exceptional value to customers, we believe the company is well-positioned to capture more market share and drive sustainable profit growth over the coming year and beyond.”

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