These are the stocks moving in after-hours trade on May 18, 2023.
Ross Stores (ROST)
Ross Stores share dipped in the post market after the low-priced retailer said it still sees comp sales growth for the current quarter to stay “relatively flat.”
“There remains a high level of uncertainty in today’s macro-economic and geopolitical environments,” Barbara Rentler, CEO of Ross Stores, said in a statement. “In addition, prolonged inflationary pressures continue to negatively impact our low- to moderate-income customers’ discretionary spend.”
Earnings per share for this year’s second quarter are forecast to be $1.07 to $1.14 versus $1.11 for the same period last year.
The company posted first quarter EPS of $1.09 along with sales of $4.49 billion. The three month period’s operating margin of 10.1% came in below Wall Street estimates of 10.2%.
Analysts were paying close attention to commentary about the health of the consumer. Recent results from Walmart and Target show shoppers are…
This article was written by and originally published on finance.yahoo.com