Source: Barron's
Ross Stores (ROST) reports earnings after-hours. Analysts expect revenue of $2.47 billion and EPS of -$0.26. The revenue estimate implies a decline of over 35% Y/Y. Investors should focus on the following key items.
Free-Falling Revenue
The coronavirus has led to millions of Americans being stuck at home amid shelter-in-place policies. This initially hurt retail sales. In July, retail sales rose 1.2% - the third consecutive month of rising sales. The majority of shopping is taking place online, which is not necessarily Ross's strong suit. Traditional retailers like Target (TGT