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Ross Earnings, Sales Up But Guidance Spooks Shareholders

The Rivet 50 is calling for nominations for leaders in the denim industry in 5 categories: design, influencer, leadership, sustainability and supply chain. Nominations close on May 23.

Ross beat expectations on both sales and income but a cautious forecast for FY18 dragged shares down. In a nutshell: A boost in foot traffic and larger basket size drove comps up for Ross Stores during the fourth quarter. The company noted children’s wear as a standout category and said cold weather items also performed well. While accessories struggled throughout the year, even that…

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