Ross Stores Reports Strong Q3 Earnings, Updates Outlook

Ross Stores Inc. (ROST – Analyst Report) posted better-than-expected third-quarter fiscal 2014 results, wherein earnings per share rose 16% year over year to 93 cents, above the higher end of the guided range of 83–87 cents. Earnings benefited from better-than-anticipated top-line growth and robust merchandise gross margins. Moreover, earnings surpassed the Zacks Consensus Estimate of 87 cents per share.