Here is why Ross Stores Inc. (ROST) stock faced headwinds in the after-hours on Thursday?


Ross Stores Inc. (ROST) shares declined 4.72% in after-hours on Thursday, August 19, 2021, and closed the daily trading at $120.60 per share. In the regular trading session of Thursday, ROST’s stock gained 2.04%. ROST shares have risen 40.24% over the last 12 months, and they have moved up 0.92% in the past week. Over the past three months, the stock has gained 3.35%, while over the past six months, it has lost 6.41%.

Let’s discuss its recent news and developments briefly.

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ROST recent financial results announcement

On August 19, 2021, Ross Stores, Inc. (ROST) announced its financial results for the second quarter of 2021 which ended on July 31, 2021.

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Q2 2021 financial highlights

  • Total sales were $4.8 billion in Q2 2021 compared to $2.7 billion in Q2 2020.
  • Total costs and expenses were $4.15 billion in Q2 2021 compared to $2.63 billion in Q2 2020.
  • Net income was $494 million in Q2 2021 compared to 22 million in Q2 2020 and $413 million in Q2 2019.
  • ROST reported earnings per share of $1.39 compared to $0.06 per share in Q2 2020.

Q3 2021 financial outlook

For Q3 2021, the company is expecting

  • Earnings per share in the range of $0.61 to $0.69.
  • Expecting store sales to be up 5% to 7%.

ROST Dividend Declaration

On August 18, 2021, the Board of Directors of Ross Stores, Inc (ROST) declared a regular quarterly cash dividend of $0.285 per common share, payable on September 30, 2021, to stockholders of record as of September 7, 2021.

ROST expanding its footprints

On July 19, 2021, Ross Stores announced that it recently opened 22 Ross Dress for Less and eight dd’s DISCOUNTS® stores across 11 different states in June and July. These new locations are part of the Company’s plans to add approximately 60 new stores, 40 Ross and 20 dd’s DISCOUNTS, during fiscal 2021.

Ross Dress for Less and dd’s DISCOUNTS currently operate a total of 1,896 locations in 40 states, the District of Columbia, and Guam.

ROST Corporate update

On July 14, 2021, ROST chief Executive Vice President and Chief Financial Officer, Travis Marquette resigned effective immediately to accept a position with another company.

The Company’s senior Finance executives will report to Michael Hartshorn, the Company’s Group President and Chief Operating Officer, until Finance leadership changes are announced in the coming months.

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The ROST stock fell in the after-hours on Thursday, after the company released its financial results which did not fulfil the analyst and investor’s expectations. It can further go down on the last trading day of the week.


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