By Kuldip K. Ambastha
Ross Stores, Inc. (ROST), an American chain (“Ross Dress for Less”) of discount department stores, had its stock price drop by -22.5% per share on Friday, May 20, 2022. 1Q2022 sales were down from the same figure released for 1Q2021. Inflationary pressures have resulted in customers spending less overall, including at Ross Stores. Full 2022 year forecasts for sales and profits have been cut. Wall Street was not pleased.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in ROST.
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