Ross Stores, Inc. (ROST) recently posted October sales of $557 million, a 14% year-over-year increase. Same store sales jumped 9%. The company also hiked its third-quarter guidance.

Management said both sales and margins were well ahead of expectations, adding that Shoes, Dresses and Home remained the top-performing categories, while the Southwest, Southeast and California were the strongest regions.

The company upped its third-quarter earnings guidance to a range of 83 to 84 cents per share from a previous range of 75 to 77 cents per share.

The Zacks Consensus Estimate currently stands at 77 cents. With Ross reporting strong sales and hiking its outlook just a couple days ago, analysts polled by Zacks are bound to raise their projections soon.

Results for the third quarter are scheduled for release on November 19.

Zacks Investment Research
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