Ross Stores Inc

ROST: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$113.00	Ndtl	Hqpxwjjd

Ross Earnings: Strong Off-Price Demand Continues to Propel Top-Line Growth

Noah Rohr

May 24, 2024

Wide-moat Ross Stores continued to benefit from strong consumer demand as the firm’s fiscal 2024 first-quarter results comfortably outpaced our expectations. We plan to raise our $111 per share fair value estimate by a low- to mid-single-digit percentage as we make slight upward revisions to our full-year forecast for sales growth (currently 5%) and operating margin (11.4%).

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