Ross Stores misses earnings estimates in Q4
Sales for the fourth quarter of 2020 were $4.2 billion, with comparable-store sales down 6%
Stocks impacted: Ross Stores (ROST)
Ross Stores reported overnight its fourth-quarter results that missed expectations, both in terms of earnings and revenue. The company announced earnings per share of $0.67 on revenue of $4.25 billion. For the 2020 fiscal year, earnings per share were $0.24 on a net income of $85 million. Reflecting the negative impact from the pandemic during the holiday season, sales for the fourth quarter of 2020 were $4.2 billion, with comparable-store sales down 6%. As a reminder, the company’s Board of Directors recently resumed dividend payout. This quarterly dividend is payable on March 31, to stockholders of record as of March 16. Ross Stores shares have lost about 5% since the beginning of the year. On Tuesday, the firm’s stocks finished nearly 2.5% lower.
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