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Ross Stores Pulls Annual Forecast Amid Tariff Headwinds, Shares Drop 11%
Retailer cuts full-year outlook, citing inflation and trade policy uncertainty; Q2 profit guidance falls short of Wall Street expectations
Ross Stores Inc (NASDAQ: ROST) shares sank 11% in extended tra ding on Thursday after the off-price retailer withdrew its full-year fiscal 2025 guidance, citing macroeconomic uncertainty and rising tariff pressures. The company also provided a weaker-than-expected outlook for the second quarter.
For the first quarter, Ross reported earnings per share (EPS) of $1.47, beating analyst estimates by $0.04. Revenue came in at $4.98 billion, slightly above the $4.94 billion consensus.
Total sales for the quarter reached $5.0 billion, with comparable store sales flat compared to the prior year.
“Despite the slower start to the spring selling season in February, our monthly sales performance improved sharply, month after month, for the balance of the quarter,” said Jim Conroy, Chief Executive Officer. “For the first quarter, sales and earnings performed at the high end of our expectations while operating margin of 12.2% was flat year-over-year.”
Looking ahead, Ross projects comparable store sales to be flat to up 3% for the 13 weeks ending August 2, 2025, building on a 4% gain in the same period last year.
However, second-quarter EPS is now expected to range between $1.40 and $1.55, down from $1.59 in the year-ago period. This forecast includes a $0.11 to $0.16 per share cost impact from new tariffs.
“Heightened macroeconomic and geopolitical uncertainty persists, most notably prolonged inflation and evolving trade policies,” Conroy added. “While we directly import only a small portion of our merchandise, more than half of the goods we sell originate from China. As such, we expect pressure on our profitability if tariffs remain at elevated levels.”
Due to these uncertainties, Ross is withdrawing its previously issued full-year sales and earnings guidance, choosing instead to provide only a second-quarter outlook at this time.
The retailer’s cautionary stance reflects growing concern across the retail industry about the impact of sustained inflation and trade tensions on future performance.
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