Ross Guides for 1Q Comparable-Store Sales to Fall Compared to 2019 Period

By Allison Prang

Ross Stores Inc.'s chief executive said the company is guiding for its first-quarter comparable-store sales to fall by at least 1% compared to the relevant 2019 period.

CEO Barbara Rentler said in prepared remarks said Ross expects those sales for that period to be down between 1% and 5% from 2019.

She also said the company is guiding for earnings to be between 74 cents a share and 86 cents a share for the first quarter.

"We expect comparable store sales to strengthen as we move through the year," she said. "However, earnings will continue to be affected by the aforementioned cost pressures throughout the year and thus profitability will be well below recent historical high levels."

Ms. Rentler also said the company is estimating it will add 60 new stores this fiscal year.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

March 02, 2021 16:50 ET (21:50 GMT)

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