Beverly Hills 11/20/2009 1:44:43 AM
News / Business

Ross Reports 3Q Profit Rise

Finance World News Update by EQUITIES Magazine

Reduced inventories helped push profits 83 percent higher in the third quarter, said Ross Stores Inc. However, the wary discount retail chain issued guidance that fell short of Wall Street expectations.

Ross earned $105.1 million, or 84 cents per share, for the period ended Oct. 31 compared to $57.3 million, or 44 cents per share, a year earlier.

The retail chain reported that shoes and dresses were among its best performers, with the Southeast and Mid-Atlantic being the strongest regions.

Ross’ stock fell $1.34, or 2.9 percent, to $44.73 in morning trading.

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