Source: Barron's
Ross Stores (ROST) reported quarterly revenue of $2.68 billion, Non-GAAP EPS of -$0.13 and GAAP EPS of $0.06. The company beat on revenue and earnings. The stock is flat post-earnings. I had the following takeaways on the quarter.
Revenue Continues To Slide
Millions of Americans are still stuck at home amid shelter-in-place policies. Most commerce is being done online, which is not Ross's strong suit. The company primarily sells through physical locations. Until the pandemic ends, sales could remain flat to declining. Total revenue of $2.7 billion was down 33% Y/Y. This sounds