DUBLIN, Calif. (AP) _ Ross Stores Inc. (ROST) on Thursday reported a fiscal first-quarter loss of $305.8 million, after reporting a profit in the same period a year earlier.
The Dublin, California-based company said it had a loss of 87 cents per share. Losses, adjusted for non-recurring costs, were 29 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The discount retailer posted revenue of $1.84 billion in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $2.09 billion.
Ross Stores shares have fallen 17% since the beginning of the year, while the Standard & Poor's 500 index has fallen almost 9%. In the final minutes of trading on Thursday, shares hit $96.68, a fall of almost 1% in the last 12 months.