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Ross Stores posts Q1 loss

Christian Fernsby |
Ross Stores reported first-quarter net loss of $305.84 million or $0.87 per share, compared to net income of $421.14 million or $1.15 per share last year.

Topics: ROSS STORES   

Revenues for the quarter dropped to $1.84 billion from $3.80 billion last year.

The company said it had closed all Ross Dress for Less and dd's Discounts locations starting on March 20th through the quarter end due to the ongoing spread of COVID-19 throughout the United States.

On May 14th, the company began a phased process of reopening stores on a market by market basis. Around 700 stores have reopened since, with the remaining stores expected to be reopened over the coming weeks.

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