Ross Stores Raises Profit Outlook Amid Strong Customer Traffic

By EC Assets · Published

Ross Stores shares increased after the company raised its full, year profit guidance. The off, price retailer reported stronger, than, expected second, quarter sales and profit. This marks the second time this year Ross Stores Inc. has raised its annual profit outlook. The company's performance was driven by robust customer traffic and an increase in new customers. Higher engagement from existing customers also contributed to the results. Ross Stores delivered strong quarterly results with double, digit growth in comparable store sales and net income. These customer gains fueled another strong quarter for the retailer. The outlook upgrade signals that the discount retailer’s momentum is holding up. This article is intended for informational purposes only. It does not constitute investment advice.

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