Ross Stores Inc. (NASDAQ: ROST) reported Thursday that its fourth-quarter profit rose nearly 47 percent on a gain in sales of staples like shoes and home items, according to Associated Press.
The discount retail chain said it earned $142.9 million, or $1.16 per share, for the period ended Jan. 30, compared to $97.4 million, or 76 cents per share, a year earlier.
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The results met the expectations of analysts surveyed by Thomson Reuters, who predicted earnings per share of $1.16 on revenue of $1.96 billion. Their estimates generally exclude one-time items.
Revenue rose 14 percent to $1.98 billion, compared to $1.73 billion last year.
Sales at stores open at least a year rose 10 percent in the quarter compared to the prior year.
For the fiscal year, the company earned $442.8 million, or $3.54 a share. That's up 45 percent from $305.4 million, or $2.33 a share, in the prior year.
Revenue rose more than 10 percent to $7.18 billion, compared to $6.49 billion last year.
Sales at stores open at least a year rose 6 percent in fiscal 2009.
Shares of Ross Stores fell $1.86, or 3.5 percent, to $52.10 in afternoon trading Thursday.
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