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Ross Stores fiscal Q3 profit climbs 13.2% YOY

Ross Stores Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 amounted to 46 cents per share, compared with the S&P Capital IQ consensus estimate of 43 cents per share.

EPS rose 16.9% year over year from 39 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $191.2 million, a gain of 13.2% from $168.9 million in the year-earlier period.

The normalized profit margin rose to 7.4% from 7.0% in the year-earlier period.

Total revenue rose 8.4% on an annual basis to $2.60 billion from $2.40 billion, and total operating expenses grew 7.7% from the prior-year period to $2.29 billion from $2.13 billion.

Reported net income rose 12.5% from the prior-year period to $193.4 million, or 47 cents per share, from $171.8 million, or 40 cents per share.