I mentioned earlier that the retail sales report for June was pretty rough, although rainy weather may have played a role. The important point for investors is that the retail landscape isn’t bad across-the-board. Some companies continue to do well.
A perfect example is Ross Stores (ROST). The company’s same-store sales for June came in better-than-expected. As a result, ROST raised their earnings forecast to a range of 73 cents to 75 cents per share. This is a big increase over their previous guidance of 60 cents to 63 cents a share.
Ross Stores is rated as a Strong Buy in Portfolio Grader and the shares just broke out to another fresh 52-week high.