Ross Stores Q3 up 18.6%
Pleasanton, Calif. -- Ross Stores Inc. reported Thursday its third straight quarter of profits, as net income rose 18.6% to $144 million, from $121.4 million a year earlier. Results met Wall Street expectations.
“Operating our business on lower in-store inventories is driving faster turns and lower markdowns, which continues to benefit profit margins,” noted Michael Balmuth, CEO.
Revenue rose 9.2% to $2.05 billion, beating analysts’ predicted $2.03 billion in revenue.