- Ross Stores released its Q1 results last week, reporting net sales of ~$4.33 billion, a 4% decline from the year-ago period.
- The soft results were related to a broad-based slowdown for the majority of Q1, and Ross Stores has now reeled in its FY2022 guidance estimates.
- Compounding matters, inflationary pressures and supply chain headwinds are not helping margins; annual EPS is now expected to decline year-over-year.
- Fortunately, Ross Stores is positioned well if consumers trade down in a weak economic environment, and the valuation has improved, suggesting any pullback below $70 should present a buying opportunity.
For further details see:
Ross Stores: A Disappointing Start To 2022