Ross Stores Raises Annual Forecasts on Strong Demand From Bargain-Hunting Shoppers
August 18, 2023
Off-price retailer Ross has increased its annual sales and profit forecasts after surpassing quarterly estimates. Bargain-seeking shoppers looking for discounted clothing and shoes amid inflation and rising household costs have boosted demand for Ross’ products. The company’s strong product assortments, particularly in the back-to-school category, have also contributed to its success, with Ross’ foot traffic showing positive growth from May to July.
Recent News
Top Deals for National Hamburger Day 2024
National Hamburger Day 2024 is just around the corner, falling on Tuesday, May 28.
Bass Pro Shops CEO Focuses on Affordability Amid Inflation
In response to the persistent inflation affecting the economy, Johnny Morris, the founder and CEO of Bass Pro Shops, has reaffirmed the brand’s commitment to affordability. With inflation currently at 3.4%, above the Federal Reserve’s 2% target, Morris acknowledged the reality of rising costs and emphasized that the hunting, fishing, and outdoor sporting brand will maintain its focus on delivering value to its customers.
European Central Bank Set To Cut Interest Rates Next Week
The European Central Bank (ECB) is poised to reduce interest rates in its upcoming meeting, marking a significant shift in monetary policy aimed at addressing the current economic landscape.
China Is Spending $47.5 Billion for Chip Industry
China is significantly bolstering its semiconductor industry with a historic investment of $47.5 billion, reflecting its strategic push to become a global leader in advanced technology.