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Ross Stores profit rises 11% in Q3, sales miss

Pleasanton, Calif. -- Ross Stores Inc. reported Thursday that net income rose 10.8% to $159.5 million in the third quarter, compared with $144 million a year earlier.

Revenue rose 10.6% to $2.26 billion, missing Wall Street’s expected $2.34 billion in revenue. Same-store sales climbed 5%.

The retailer has reaffirmed its guidance for the fourth quarter.

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