JCP - Ross Stores: The Valuation Is Difficult To Justify
Source: Barron's
Millions of Americans are staying at home to help stem the spread of the coronavirus. It has also hurt traditional retailers, as many of their stores have been shut down temporarily. Traditional retailers have been left vulnerable with billions in unsold inventory. Ross Stores (ROST) recently entered into a new unsecured credit agreement, providing the company with $500 million in additional borrowing capacity:
"To add to its potential sources of liquidity, and to provide additional financial flexibility due to uncertain market conditions arising from theimpact of the COVID-19 pandemic, Ross Stores,