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Ross Stores Q2 earnings beat estimates
Pleasanton, Calif. -- Ross Stores Inc. reported a profit of $213 million for the second quarter, compared with $182 million last year and beating Wall Street’s expectations.
Revenue rose 9% to $2.5 billion, matching forecasts. Same-store sales edged up 4%, compared to a 7% rise in the same period last year. However, the retailer expressed caution about the months ahead.
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Walmart’s Simon outlines path to prosperity
Walmart displayed a powerful commitment to revitalizing U.S. manufacturing this week when the company convened its first ever domestic sourcing summit.
Not only was the event a first for Walmart, it was also unlike anything the retail industry has ever seen. Roughly 1,500 supplier company representatives, government and economic development officials, Walmart’s top executives and dozens of senior merchants participated in the three hour summit held at the Orange County Convention Center in Orlando.
