Home / Knowledge / News / Apparel/Garments / EPS surges 16% at Ross Stores in Q2FY15
EPS surges 16% at Ross Stores in Q2FY15
26
Aug '14
Earnings per share at Ross Stores Inc, a Fortune 500 and Nasdaq 100 company, surged 16% year-on-year for the 13 weeks ended August 2, 2014, partly, from a one-time benefit of around $0.02 per share from the favourable resolution of an outstanding legal matter.

Ross Stores, with fiscal 2013 revenues of $10.2 billion reported earnings per share of $1.14 in the second fiscal quarter of 2014 up from $0.98 for the 13 weeks ended August 3, 2013.

In the second quarter of 2014, net earnings at California headquartered - Ross Stores grew 12% to $239.6 million, up from $213.1 million in the prior year quarter.

Second quarter of 2014 sales went up 7% to $2.730 billion, compared to $2.551 billion in the second quarter of 2013, while comparable store sales rose 2% on top of a 4% gain for the 13 weeks ended August 3, 2013.

Operating margin grew to a record 14.3%, up from 13.6% in the prior year, mainly driven by a 25 basis point improvement in cost of goods sold, mainly due to higher merchandise gross margin.

Ross Stores also posted a 45 basis point decline in selling, general and administrative expenses, with benefits arising from tight expense controls and resolution of the a legal matter.

CEO Barbara Rentler said, “We continue to enhance stockholder returns through our stock repurchase and dividend programs. During the first six months of fiscal 2014, we repurchased 4.1 million shares of common stock for an aggregate price of $277 million.”

“As a result, we remain on track to buy back a total of $550 million in common stock during fiscal 2014, which would complete the two-year $1.1 billion program authorized at the beginning of 2013", she noted.

For the 13 weeks ending November 1, 2014 or the third fiscal quarter, Ross Stores expects earnings per share to be $.83 to $.87, while in the fourth fiscal quarter it projects earnings per share in the range of $1.05 to $1.09.

Earnings per share for the 52 weeks ending January 31, 2015 are now forecast to be $4.18 to $4.26, up from $3.88 for the 52 weeks ended February 1, 2014.

These guidance ranges are based on same store sales, projected to rise between 1% and 2% for both the third and fourth quarters of 2014, Ross Stores said.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search