Ross Stores stock sheds 1.94% and underperforms market
Updated
Updated · MarketWatch · May 7
Ross Stores stock sheds 1.94% and underperforms market
10 articles · Updated · MarketWatch · May 7
Shares closed at $224.48 on Thursday as the S&P 500 fell 0.38% to 7,337.11 and the Dow dropped 0.63% to 49,596.97.
The decline ended a two-day winning streak and left the stock 2.59% below its 52-week high of $230.44 reached on 20 April.
Ross showed mixed performance against peers: Amazon fell 1.39%, Target lost 3.31% and TJX slipped 0.62%, while trading volume rose to 2.7 million from a 50-day average of 2.5 million.
Ross Stores projects record earnings, so why did its stock just suffer its worst drop in weeks?
As brands sell their own overstock online, can Ross's 'treasure hunt' model survive the new competition?