87.00 -0.18 (-0.21%)
After hours: 7:59PM EDT
Price Crosses Moving Average
|Bid||87.01 x 800|
|Ask||87.60 x 800|
|Day's Range||78.15 - 88.06|
|52 Week Range||56.30 - 124.16|
|Beta (5Y Monthly)||0.88|
|PE Ratio (TTM)||18.95|
|Earnings Date||May 20, 2020|
|Forward Dividend & Yield||1.14 (1.53%)|
|Ex-Dividend Date||Mar 15, 2020|
|1y Target Est||103.08|
Ross Stores (ROST) joins other retailers in furloughing employees from Apr 5 as a result of extended store closures stemming from the coronavirus outbreak.
Moody's Investors Service, ("Moody's") today affirmed Burlington Coat Factory Warehouse Corp's ("Burlington") Corporate Family Rating at Ba1, its Probability of Default Rating at Ba1-PD, and the company's senior secured term loan at Ba1. In addition, Moody's downgraded its Speculative Grade Liquidity rating to SGL-2 from SGL-1.
American Eagle (AEO) is keen on safeguarding its finances through drawings on credit facilities and employee furloughs, among others, as coronavirus continues to wreak havoc.
Moody's Investors Service, ("Moody's") today affirmed Ross Stores, Inc.'s ("Ross") senior unsecured rating at A2 and assigned a rating of A2 to its proposed senior unsecured notes offering. "Its excellent liquidity will enable the company to navigate the unprecedented disruption caused by the coronavirus pandemic and the potential for suppressed consumer demand", Boni added.
Ross Stores Inc. said Thursday that it will furlough most of its store and distribution center associates starting April 5. Ross Dress for Less and DD's Discount locations have been closed since March 20 and had expected to reopen on April 4. Stores will now be closed indefinitely. Board Chairman Michael Balmuth and Chief Executive Barbara Rentler will forego their salaries with tiered salary reductions throughout the company. Ross Stores stock is up 1.1% in premarket trading but down 13.5% over the last year. The S&P 500 index has tumbled nearly 14% for the past 12 months.
Ross Stores, Inc. (NASDAQ: ROST) announced today further updates regarding the COVID-19 pandemic and additional steps management is taking in response to this rapidly-evolving situation. As a reminder, all Ross Dress for Less® and dd’s DISCOUNTS® locations have been closed since March 20th. The Company had been hoping to reopen stores by April 4th. Unfortunately, the increasing spread of the coronavirus prevents it from doing so.
Retailers are at risk of running out of cash if the coronavirus pandemic keeps stores shuttered for longer than expected and consumers, spooked by carnage in the stock market, cut back on purchases, analysts said Wednesday.
Nike leads the way in a group of retail stocks Wells Fargo believes could be in for strong returns once the coronavirus crisis subsides.
On Thursday, discount store operator Ross Stores Inc sent a letter to its vendors, notifying them it would cancel all merchandise purchase orders through June 18 due to the impact the novel coronavirus has had on its business. The Dublin, California-based discount store operator said it would also extend payment terms on all existing merchandise payables by 90 days. Paul Rotstein, President and Chief Executive of Gold Medal International of New York City, which supplies accessories like socks and gloves to Ross Stores, said other retailers are making similar moves.
With the COVID-19 crisis sending the U.S. economy in a recession, we're looking at what companies managed to thrive during the last recession for guidance.
Whirlpool (WHR) withdraws 2020 guidance in the wake of the adverse impact of COVID-19 on its businesses. Also, it pulls out $2.2 billion from its current revolving credit facility.
Goldman Sachs has changed stock ratings on a number of brands and retailers as the coronavirus pandemic disrupts brick-and-mortar retail, impacting revenue, putting pressure on margins and putting stress on cash flow and liquidity. Goldman upgraded Ross Stores Inc. to buy from sell, but lowered its price target to $93 from $110. "Off-price is particularly well positioned to weather headwinds," analysts wrote. "[O]ur analysis suggests Ross Stores will continue to have sufficient cash on hand to operate into the second half even if revenue losses during the March 15-to-June 30 time period approach 90%." Analysts downgraded Under Armour Inc. to neutral from buy, and cut their price target cut to $9 from $21. Analysts say that 2020 was intended to be a "reset year" after losing "brand momentum," and their prior view was based on marketing investment to turn that around. In the current environment, Goldman is expecting Under Armour to struggle to fund that investment. And its efforts to sell at full price will be "at risk" if sales disruption continues. Weak brand momentum is also a problem for Kontoor Brands Inc. , the parent company to denim brands Wrangler and Lee. Goldman downgraded Kontoor to sell from neutral and reduced its price target to $17 from $32. Ross Stores stock was up 0.2% in Wednesday premarket trading but down 57.6% for 2020 so far. Under Armour shares rose 1.6% in premarket, but are down 56.2% over the last year. And Kontoor stock slumped 7.4% in premarket, and is down 38.4% for the year to date. The S&P 500 index has fallen 24.3% for 2020 to date.
After temporarily closing stores, V.F. Corp. (VFC) withdraws fiscal 2020 guidance due to the adverse impact of COVID-19 on its businesses.
Many retailers are announcing temporary store closures and withdrawing their guidance in response to the coronavirus pandemic.
Ross Stores (ROST) has withdrawn fiscal 2020 and first-quarter guidance due to the adverse impact of COVID-19 on its businesses, stemming from aggressive store closures.
Ross Stores Inc. said Friday that it will shutter all of its Ross Dress For Less and dd's Discounts locations in the U.S. from March 20 to April 3. The company will pay its associates during the two-week closure. The company had previously closed stores as mandated by the government, and announced other coronavirus-related measures, including reducing its capital expenditures. Ross Stores shares have sunk 29% over the past year while the S&P 500 index is down 14.7% for the period.
Ross Stores, Inc. (NASDAQ: ROST) announced today that given the rapidly escalating developments related to the COVID-19 pandemic, the Company will now temporarily close all Ross Dress for Less® and dd’s DISCOUNTS® locations throughout the United States effective March 20, 2020 through April 3, 2020.
Is your favorite retailer open? Major shopping center operators in the Triad are leaving that up to their tenants, but properties that remain open are taking preventive measures, including the reduction of store hours.
Discount store operator TJX Cos Inc said on Thursday it was drawing down $1 billion from its existing credit line and suspending its share buyback program to maintain liquidity in a difficult period brought on by the coronavirus pandemic. Smaller rivals Ross Stores Inc and Burlington Stores Inc also suspended their buyback programs on Thursday, with Ross saying it would draw down $800 million from its existing credit line.
Ross Stores Inc. said Thursday that sales trends have decelerated in the past week due to the coronavirus outbreak, driving the decision to reduce the off-price retailer's capital expenditures and expense plans and to realign inventory to meet the current demand. Ross Stores reported fourth-quarter earnings that beat expectations on March 3, and announced plans to add 100 stores in 2020 on March 9. February sales were ahead of expectations. However, there have been mandatory store closures and more are expected. The company has withdrawn its first-quarter and full-year guidance, suspended its stock repurchase program and has drawn down $800 million from its credit facility. "I want to emphasize that our company began 2020 in a strong financial position," said Barbara Rentler, chief executive of Ross Stores, in a statement. "We are proactively taking these early actions to further increase our liquidity and flexibility to successfully manage through these challenging times." Ross Stores shares slipped 3.2% in Thursday premarket trading, and have fallen 34.6% over the past year. The S&P 500 index is down 15.3% over the last 12 months.
Ross Stores, Inc. (NASDAQ: ROST) provided a business update today in response to the impact of COVID-19 on the Company’s operations. While February sales were ahead of its expectations, the Company has experienced a broad-based deceleration in sales trends over the past week from the continued spread of the virus throughout the country and the mandatory closure of stores in certain markets. Further, additional store closures are expected.
Unfortunately for some shareholders, the Ross Stores (NASDAQ:ROST) share price has dived 39% in the last thirty days...
Ross Stores, Inc. (Nasdaq: ROST) announced today that Patricia H. Mueller and Larree M. Renda have been elected to its Board of Directors effective immediately.