Ross Stores climbs after posting stronger-than-expected Q4 sales

Shares of off-price retailer Ross are up more than 6% on Wednesday morning, following the release of the company’s fourth-quarter earnings report after-hours on Tuesday.

Ross posted adjusted earnings of $2 per share in its Q4, ended January 31, beating Wall Street’s expectations of $1.90 per share. Total sales climbed 12% year over year to $6.6 billion, ahead of the $6.4 billion consensus.

CEO Jim Conroy credited some of the company’s success on growth in 18- to 34-year-old customers.

Looking ahead to the current quarter, Ross expects earnings of between $1.60 and $1.67 per share. Analysts polled by FactSet expect $1.68.

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