Ross Stores reported better-than-expected second-quarter earnings and sales as shoppers sought out its stores for bargains.
The off-pricer announced its results a day after two other discounters, Walmart and TJX Cos., also reported strong second quarters that came in above estimates.
Ross, which is which is on track to open 100 new stores this year, earned $446 million, or $1.32 a share, in the quarter ended July 30, up from $385 million, or $1.11 a share, in the year-ago period. Analysts has expected earnings of $1.16 per share.
Source: Chain Store Age
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