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Target, TJX and Ross raise outlook on better-than-expected March sales
New York -- Target Corp., The TJX Cos., and Ross Stores reported stronger-than-expected March sales as warm weather put consumers in a spending mood. Both retailers also revised their first-quarter outlooks upward on the results.
Target said its same-stores sales rose 7.3% in March, helped by warm weather. Analysts had predicted a 5.4% increase.
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Ross reports 19% rise in Q4 profit after strong holiday selling season
Pleasanton, Calif. -- Ross Stores Inc. reported Thursday that profit for the quarter ended Jan. 28 rose 19% to $192 million, from $161.8 million last year. A profitable holiday season helped boost the discounter’s results, which met Wall Street expectations.
Sales surged almost 12% to $2.4 billion, and same-store sales increased 7%.
For the full year, Ross reported a net income rise of 18% to $657.2 million. Sales increased 9% to $8.6 billion, with same-store sales up 5%.