Ross Stores Inc. continued to make the most of consumers’ flight to value.
The Pleasanton, Calif.-based off-pricer’s fourth-quarter profits shot up 46.7 percent to $142.9 million, or $1.16 a diluted share, from $97.4 million, or 76 cents, a year ago. Results were in line with the retailer’s projection last month. Sales for the three months ended Jan. 30 advanced 14.2 percent to $1.98 billion from $1.73 billion on a 10 percent rise in comparable-store sales. Gross margin ascended to 26.1 percent of sales from 23.8 percent a year earlier.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)