×
60 442
Fashion Jobs
MICHAEL KORS
pt Sales Supervisor
Permanent · Greater Los Angeles
NEIMAN MARCUS
Sales Manager, Handbags - Las Vegas
Permanent · Las Vegas
BLOOMINGDALE'S
Registry Consultant, Full Time - Short Hills
Permanent · Millburn
MACY'S
Asset Protection Detective, Walnut Creek Broadway Plaza - Full Time
Permanent · Walnut Creek
MACY'S
Asset Protection Detective, Valley Fair - Full Time
Permanent · Santa Clara
MACY'S
Asset Protection Detective, Valencia Town Center - Full Time
Permanent · Santa Clarita
MACY'S
Asset Protection Detective, Pentagon City - Part Time
Permanent · Arlington
MACY'S
Asset Protection Detective, Deerbrook Mall - Full Time
Permanent · Humble
MACY'S
Asset Protection Detective, Orland Square - Part Time
Permanent · Orland Park
ROSS STORES
Senior Manager, Fixture Quality
Permanent · Dublin
OLD NAVY
District Manager - Colorado South
Permanent · Lakewood
OLD NAVY
General Manager - Shops at Stonewall
Permanent · Gainesville
NORDSTROM
Assistant General Manager - Ruscello - South Coast Plaza
Permanent · Costa Mesa
MACY'S
Asset Protection Detective, South Shore Plaza - Full Time
Permanent · Braintree
TJX COMPANIES
Product Manager
Permanent · Framingham
HOMEGOODS
70118-lp Detective
Permanent · Raleigh
TJ MAXX
District Loss Prevention Manager - Los Angeles, ca
Permanent · Culver City
TJX COMPANIES
Loss Prevention Investigator (National Task Force) - Deptford, nj
Permanent · Deptford
TJ MAXX
Warehouse Supervisor
Permanent · University Park
TJX COMPANIES
Product Manager
Permanent · Framingham
TJ MAXX
Loss Prevention Detective
Permanent · Somerville
TJ MAXX
tj Maxx Loss Prevention Detective Full-Time
Permanent · Denver
Published
May 23, 2022
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Ross Stores Q1 results disappoint

Published
May 23, 2022

Ross Stores announced on Thursday revenues for the first quarter declined for the three months ending April 30, on the back of a dive in comparable store sales, tumbling earnings for the quarter.


Comparable store sales declined 7% on top of a 13% gain in the first quarter of 2021 - Instagram: @rossdressforless


The Dublin, California-based company said sales for the first quarter of 2022 were $4.3 billion, down around 5% from $4.5 billion in the prior year period, adding that its inventory levels also rose nearly 60% for the quarter.

Comparable store sales declined 7% on top of a 13% gain in the first quarter of 2021, the company said.

​“We are disappointed with our lower-than-expected first quarter results. Following a stronger-than-planned start early in the period, sales underperformed over the balance of the quarter," said  ​Barbara Rentler, chief executive officer.

Net earnings for the quarter fell to $338.4 million, from $476.5 million in the prior-year quarter.

"We knew fiscal 2022 would be a difficult year to predict, especially the first half when we were facing last year’s record levels of government stimulus and significant customer pent-up demand as Covid restrictions eased. The external environment has also proven extremely challenging as the Russia-Ukraine conflict has exacerbated inflationary pressures on the consumer not seen in 40 years," said Rentler.

Looking ahead,  Ross said it sees full year comparable sales falling 2% to 4% for the year, versus previous guidance of unchanged to a gain of as much as 3%. It also trimmed its forecast for earnings per share.

Copyright © 2022 FashionNetwork.com All rights reserved.