US Stock Market Move | Ross Stores, Inc. (ROST.US) rises more than 7% in pre-market trading, exceeding annual performance guidance expectations.

On Wednesday, Ross Stores, Inc. (ROST.US) rose more than 7% in pre-market trading to $211.80. The company announced strong fourth quarter performance and forecasted annual sales to surpass Wall Street expectations. The financial report showed that Ross Stores, Inc. same-store sales increased by 9% in the fourth quarter, far exceeding analysts' expectations of 4.03%; quarterly earnings per share reached $2, also higher than the market's expectation of $1.90; and sales reached a historical high of $6.64 billion, surpassing the market's expectation of $6.4 billion. Looking ahead, the company expects annual same-store sales growth for the new fiscal year to be between 3% and 4%, with the midpoint higher than analysts' average expectation of 3.05%. In a statement on Tuesday, Ross Stores, Inc. said, "We are encouraged by the strong performance of our business and confident in the strategic priorities set for this year." CEO Jim Conroy stated in the declaration, "With a healthy balance sheet, disciplined execution, and a clear focus on delivering exceptional value to our customers, we believe that the company is well-positioned to capture more market share and drive sustainable profit growth in the upcoming year and beyond."