Ross Stores Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 31 amounted to 60 cents per share, compared with the S&P Capital IQ consensus estimate of 56 cents per share.
EPS rose 17.6% year over year from 51 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $247.7 million, an increase of 14.0% from $217.3 million in the fourth quarter ended Feb. 1, 2014.
The normalized profit margin rose to 8.2% from 7.9% in the year-earlier period.
Total revenue grew 10.6% year over year to $3.03 billion from $2.74 billion, and total operating expenses increased 10.0% year over year to $2.63 billion from $2.39 billion.
Reported net income grew 14.2% from the prior-year period to $248.6 million, or 60 cents per share, from $217.7 million, or 51 cents per share.
For the year, the company's normalized net income totaled $2.22 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $2.18.
EPS rose 14.2% from $1.95 in the prior year.
Normalized net income was $928.4 million, a gain of 10.6% from $839.6 million in the prior year.
Full-year total revenue grew 7.9% year over year to $11.04 billion from $10.23 billion, and total operating expenses rose 7.5% on an annual basis to $9.55 billion from $8.89 billion.
The company said reported net income grew 10.3% on an annual basis to $924.0 million, or $2.21 per share, in the full year, from $837.3 million, or $1.94 per share.
