Ross Stores Raises Profit Guidance
Ross Stores shares surged in premarket trading after the retailer raised its annual earnings forecast and projected stronger quarterly sales. The company reported better than expected second quarter revenue and profit.
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ROSS STORES INC shares surged 8.6% to $248.77 in Friday morning trading after raising its full-year profit guidance and topping second-quarter revenue estimates. The rally reverses a recent slide that saw the stock fall over 3% across the previous two sessions. The discount retailer capitalized on steady bargain-hunting demand despite broader economic pressures.
