Ross Stores Price Targets, Shares Up After Revenue Beat

Ross Stores  (ROST) – Get Report shares rose Friday as three analysts raised their share-price targets after the discount apparel/home retailer reported stronger-than-expected revenue.

In the third quarter ended Oct. 31, revenue registered $3.75 billion, down 3% from $3.85 billion last year. The FactSet analyst consensus called for $3.42 billion in the latest quarter. Same-store sales dipped 3%, too.

“Sales trends accelerated during the third quarter following a slower start in August, driven by an improvement in our merchandise assortments, a later back-to-school season, stronger performance in our larger markets, and our return to more normal store hours,” Chief Executive Barbara Rentler said in a statement.

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