Ross Stores reports Q4 EPS $1.79, consensus $1.66

Reports Q4 revenue $5.91B, consensus $5.95B. Jim Conroy, CEO, commented, “Fourth quarter sales and earnings results were at the high end of our expectations. Sales benefited from customers’ positive responses to our improved assortments of quality branded bargains throughout our stores during the critical holiday selling season. Fourth quarter operating margin of 12.4% was flat to last year. The benefit from the previously mentioned packaway facility sale was offset by planned declines in merchandise margin and unfavorable timing of packaway-related costs. The sale of the facility contributed about 105 basis points to this year’s fourth quarter operating margin while the 53rd week benefited the prior year’s period by about 80 basis points.”