Ross Stores Q4 Profit Declines But Meets Estimate- Quick Facts

(RTTNews) - Ross Stores, Inc. (ROST) Thursday reported fourth-quarter net earnings of $217.95 million or $1.02 per share, compared to $236.60 million or $1.07 per share in the same period last year.

On average, 30 analysts polled by Thomson Reuters expected the company to earn $1.02 per share for the quarter. Analysts' estimates typically exclude special items.

Sales declined to $2.74 billion from $2.76 billion last year, while 28 analysts expected sales of $2.75 billion.

Looking ahead to the first-quarter, the company has forecast earnings in the range of $1.11 to $1.15 per share and expects comparable store sales to increase 1% to 2%. Analysts currently expect first-quarter earnings of $1.20 per share.

For fiscal 2014, the company has forecast earnings in the range of $4.05 to $4.21 per share and expects comparable store sales to grow 1% to 2%. Analysts currently expect fiscal 2014 earnings of $4.34 per share.

The Company's Board of Directors also recently approved an increase in the quarterly cash dividend to $.20 per share, up 18% on top of a 21% increase last year. This larger quarterly dividend will be payable on March 31, 2014 to stockholders of record as of March 10, 2014.