Ross Stores Lowers Outlook for Second Half of FY22
August 18 2022 - 5:23PM
Dow Jones News
By Denny Jacob
Ross Stores Inc. lowered its outlook for the second half of the
year, citing macroeconomic challenges and a more promotional retail
environment.
The off-price retail apparel and home accessories store operator
guided for third quarter same-tore sales to decline 7% to 9% and
fourth quarter same stores to be down 4% to 7%.
The company guided for earnings per share between 72 cents to 83
cents and $1.04 to $1.21 in the third quarter and fourth quarter,
respectively, if the second half is in line with its forecast.
"We are facing a very difficult and uncertain macro-economic
environment that we expect will continue to strain our customers'
discretionary spending," Chief Executive Barbara Rentler said.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
August 18, 2022 17:08 ET (21:08 GMT)
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