Ross Stores (ROST) Q2 2016 Earnings Call

posted in: Earnings Call, Notes | 0

Ross Stores (ROST) CEO Barbara Rentler called out specific geographies as areas of strength

“During the quarter, California and the Midwest were the strongest regions, while shoes and home were the best-performing merchandise categories at Ross. We also made some progress improving the assortments in our ladies’ apparel businesses, where we struggled during the spring season.”

Ross Stores (ROST) CFO Michael Hartshorn said the company’s costs are increasing due to higher wages

“Selling, general and administrative expenses during the period increased by 10 basis points due mainly to higher wages.”

Ross Stores (ROST) CFO Michael Hartshorn cited the retail environment as promotional 

“As we look at the back half, we think we continue to face an increasingly uncertain macroeconomic, political and retail environment. And I would say that the retail environment we’re expecting is likely going to be promotional, given relatively poor performance levels that been reported recently and also some store closure announcements that have been made.”