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Off-pricer tops earnings expectations
The off-price segment continues to be one of the brightest spots in brick-and-mortar retail. Ross Stores on Tuesday reported earnings per share for the fourth quarter ended January 28, 2017 of $.77, up 17% from the prior year, on net earnings that rose 14% to a better-than-expected $301 million. But the retailer offered a cautious outlook amid economic and industry challenges. Ross’ sales quarter grew 8% to $3.5 billion. Same-store sales increased 4%. -
Target misses bullseye in Q4 as profit, sales fall; gives weak 2017 outlook
Strong online sales were not enough to help Target Corp. overcome a very disappointing fourth quarter, whose sales and earnings were far below Wall Street expectations. And the discounter offered a weak outlook for 2017. Target on Tuesday issued a full-year profit forecast that was far below market expectations, and said it plans to invest more money into enhancing its digital online platform and cutting prices. The chain said it would sacrifice gross margins this year to stay ahead of the competition.

