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Off-price category hot, but newcomers should watch out
New York -- The off-price segment is on fire, but newcomers to the sector should watch out, warns a report by Moody’s Investors Service.
The U.S. off-price apparel and home products segment continues to grow rapidly as consumers who developed a taste for cheaply priced luxury goods during the recession keep up their hunt for bargains, Moody's Investors Service said in a new report.
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Ross tops Street with Q1 earnings; lifts outlook
Dublin, Calif. – Ross Stores Inc. topped Wall Street expectations with net earnings of $282 million in the first quarter of fiscal 2015, up 15% from $244 million in the year-ago period. A one-time benefit related to timing of packaway costs (when a discount retailer buys end-of-season merchandise to sell at a markup the following year) boosted profits.
The off-price retailer reported that its sales rose 10% to $2.93 billion from $2.68 billion in the year-ago period. Same-store sales increased 5%.

