Ross Stores Lifts FY Earnings Outlook

(RTTNews) - Ross Stores Inc. (ROST) Thursday lifted its earnings outlook for the full year. The company now expects full-year earnings of $4.65 to $4.75 per share, up from prior forecast of $4.20 to $4.38 per share. Analysts polled by Thomson Reuters currently estimate earnings of $4.51 per share for the year.

The company expects a comparable store sales gain of 12% to 13% for the full year.

Looking ahead, CEO Barbara Rentler said, "While we are encouraged by the ongoing strength of consumer demand, there remains significant uncertainty related to the worsening industry-wide supply chain congestion as we enter the important holiday season. As a result, and while we hope to do better, we are projecting fourth quarter comparable store sales gains of 7% to 9% and earnings per share in the range of $0.83 to $0.93."