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Ross Stores fiscal Q2 profit climbs 12.7% YOY

Ross Stores Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 amounted to 58 cents per share, compared with the S&P Capital IQ consensus estimate of 54 cents per share.

EPS climbed 16.4% year over year from 50 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $244.0 million, an increase of 12.7% from $216.6 million in the prior-year period.

The normalized profit margin climbed to 8.9% from 8.5% in the year-earlier period.

Total revenue climbed 7.0% on an annual basis to $2.73 billion from $2.55 billion, and total operating expenses increased 6.1% from the prior-year period to $2.34 billion from $2.20 billion.

Reported net income grew 12.6% year over year to $239.0 million, or 57 cents per share, from $212.3 million, or 49 cents per share.