Latest news with #JimConroy
Yahoo
23-07-2025
- Business
- Yahoo
Why Boot Barn (BOOT) Stock Is Down Today
What Happened? Shares of clothing and footwear retailer Boot Barn (NYSE:BOOT) fell 3.3% in the morning session after an analyst at Jefferies downgraded the stock, citing concerns over the company's valuation. Jefferies analyst Corey Tarlowe lowered the rating on the western and workwear retailer to 'Hold' from a previous 'Buy' and also cut the price target to $175 from $187. The analyst noted that while the business continued to perform well, the stock's price had appreciated to levels that left little room for near-term upside. According to the firm, the risk-to-reward profile for the stock appeared more balanced at its current valuation, prompting the more cautious stance despite continued confidence in Boot Barn's fundamental business strength. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Boot Barn? Access our full analysis report here, it's free. What Is The Market Telling Us Boot Barn's shares are very volatile and have had 27 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 9 months ago when the stock dropped 20.9% on the news that the company reported third-quarter earnings and provided EPS forecast for the next quarter, which missed Wall Street's estimates. The company also reported that CEO Jim Conroy had stepped down to become CEO of Ross Stores (NASDAQ:ROST). Chief Digital Officer John Hazen replaced him as Interim CEO. Overall, this was a softer quarter, and the management shake-up is spooking investors. Boot Barn is up 13.3% since the beginning of the year, and at $172.94 per share, it is trading close to its 52-week high of $175.60 from July 2025. Investors who bought $1,000 worth of Boot Barn's shares 5 years ago would now be looking at an investment worth $8,739. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
Axios
13-06-2025
- Business
- Axios
Ross Dress for Less to open second location in downtown next month
Ross Dress for Less is adding a second downtown San Francisco store on July 19 — steps away from its long-standing flagship. Why it matters: The opening comes amid downtown's slow pandemic recovery — marked by a wave of retail closures — and underscores the discount chain's widespread appeal in a corridor riddled with vacancies. The big picture: The newest location at 901 Market St. is part of a broader nationwide expansion. To commemorate the opening, the Dublin-based company will make a donation to the Tenderloin Clubhouse, part of the Boys & Girls Club of San Francisco. What they're saying: "While other retailers have shuttered stores, we saw a great opportunity to deliver even more value to the city and the entire Bay Area," CEO Jim Conroy said in a statement. By the numbers: The discount retailer's newest locale is expected to create 90 new full- and part-time jobs. Catch up quick: The first downtown Ross store opened nearly 40 years ago at 799 Market St. — just a block away from the newest location.
Yahoo
27-05-2025
- Business
- Yahoo
Shop at Ross? Retailer says tariffs could increase prices
Add Ross Stores to the retailers expecting to raise some prices due to tariffs. Ross Stores, which operates Ross Dress for Less and DD's Discounts, may be forced to raise prices on some products, executives said during the company's first quarter earnings call on May 22. The retailer reported flat sales for the 13-week period ending May 3, compared to the same period a year ago. Net income of $479 million dipped nearly 2% from a year ago, but met expectations of analysts polled by S&P Global Market Intelligence. Sales increased each month during the quarter, but the effects of inflation and tariffs and inflation loom over the coming weeks, CEO Jim Conroy said in comments in the earnings release. 'Heightened macroeconomic and geopolitical uncertainty persists, most notably prolonged inflation and evolving trade policies," he said. National Hamburger Day 2025: Free food at Burger King, deals at Wendy's, Dairy Queen, more Trade policies continue to shift. Earlier this month, President Donald Trump reached a U.S.-China agreement to lower tariff rates on trade for 90 days – cutting the tariffs on Chinese imports from 145% on most goods to 30% tariff, while China reduced tariffs on U.S. goods from 125% to 10%. While Trump called on Walmart to "eat the tariffs," Ross Stores is among retailers including Walmart, Amazon, and Best Buy preparing customers for higher prices on some products. Half of the goods sold at its stores originate from China, Conroy said. "As such, we expect pressure on our profitability if tariffs remain at elevated levels," he said. Like other retailers, Ross Stores is trying multiple strategies to "mitigate the cost" of tariffs, but expects consumers to begin feeling their impact in late June and early July, chief operating officer Michael Hartshorn told analysts during the earnings call, according to a transcript from S&P Global Market Intelligence. In addition to finding products made in other countries, Ross Stores is working with suppliers to "get better costing, which we've done at this point, even in the second quarter," he said. Lastly, the retailer can increase the price charged for products, "but we want to be very careful with price increases," Hartshorn said. "We don't want to be the first one to raise prices, and we want to make sure that we keep our value or pricing umbrella versus mainstream retail." In the months ahead, this dilemma will be felt by consumers and retailers – many of which rely on goods from China, Conroy said. "At the end of the day, there's a lot of product, particularly over the next 6 months, that is going to be imported from China for us and for every other retailer and every other off-price company," he said. Ross Stores projected flat to 3% sales during the current 13-week period ending Aug. 2, compared to a 4% increase a year ago. Contributing: Kinsey Crowley, Margie Cullen, Kathryn Palmer Mike Snider is a reporter on USA TODAY's Trending team. You can follow him on Threads, Bluesky, X and email him at mikegsnider & @ & @mikesnider & msnider@ What's everyone talking about? Sign up for our trending newsletter to get the latest news of the day This article originally appeared on USA TODAY: Ross Stores: Tariffs will likely lead to higher prices
Express Tribune
27-05-2025
- Business
- Express Tribune
Ross Stores CEO makes bleak prediction amidst Trump China tariffs
Ross Dress for Less is grappling with a serious challenge as its first-quarter earnings for 2025 reveal stagnant sales and a decline in net income. The discount retailer, facing a shrinking customer base, is contemplating significant adjustments that could affect shoppers in the near future. For the first quarter, Ross Stores reported flat comparable sales compared to the same period last year, and net income of $479 million, which marked a nearly 2% drop from the previous year. This decline comes amid a steady decrease in customer visits, with data from showing a 2.7% year-over-year drop in visits per store. CEO Raises Alarm on Inflation and Tariffs In a May 22 earnings call, Ross CEO Jim Conroy addressed the troubling figures, attributing the company's weaker performance to both prolonged inflation and a shift in customer buying patterns. Conroy noted that consumers are increasingly gravitating toward functional items rather than discretionary products. He also highlighted tariffs as an emerging threat to profitability. The recent 10% tariff on imports imposed by the Trump administration, particularly on goods from China, is already affecting Ross, with over 50% of its products sourced from the country. Conroy warned that these tariffs, combined with rising inflation, could result in higher prices for consumers in the coming months. "The volatility of trade policies and the corresponding impact on the economy, the consumer, and our profitability is highly unpredictable," said Conroy. "During these uncertain times, we will focus on what we can control and manage the business conservatively." Rising Prices Loom as Tariffs Impact Costs With tariffs expected to remain at elevated levels, Ross is exploring ways to adjust its pricing strategy. Conroy confirmed that the company will consider raising prices on certain items but stressed that the increases would be strategically planned, depending on whether the item is deemed functional or discretionary. "We want to be very careful with price increases," said Ross Chief Operating Officer Michael Hartshorn. "We don't want to be the first one to raise prices, and we want to make sure that we keep our value or pricing umbrella versus mainstream retail." While Ross aims to avoid a drastic price hike, the company plans to start adjusting prices around June or July this year. In addition to raising prices, Ross is negotiating with suppliers to manage import costs and is looking into sourcing products from alternative countries, though this shift is expected to take months and will not affect pricing until 2026. Shifting Consumer Habits As the prospect of higher prices looms, consumers are already altering their shopping habits in response to anticipated cost increases. A recent survey by market research firm Numerator found that 83% of Americans are preparing for the impact of tariffs by searching for sales and coupons, delaying purchases, and buying fewer imported goods. Ross Stores, known for offering discounted prices, is preparing for a challenging period as both the broader economic environment and consumer behaviour continue to evolve. The company's strategy in the months ahead will determine how it navigates the turbulent landscape of rising tariffs, inflation, and changing shopping trends.
Yahoo
25-05-2025
- Business
- Yahoo
Why Ross Stores Inc. (ROST) Crashed On Friday
We recently published a list of . In this article, we are going to take a look at where Ross Stores Inc. (NASDAQ:ROST) stands against other Friday's worst-performing stocks. Discount retailer Ross Stores dropped its share prices by 9.85 percent on Friday to end at $137.26 each, primarily due to a pessimistic business outlook and the withdrawal of its earlier growth targets. 'While we directly import only a small portion of our merchandise, more than half of the goods we sell originate from China. As such, we expect pressure on our profitability if tariffs remain at elevated levels,' said Ross Stores Inc. (NASDAQ:ROST) CEO Jim Conroy, adding that the company was withdrawing previously provided annual sales and earnings guidance. For the second quarter of the year, Ross Stores Inc. (NASDAQ:ROST) now expects same-store sales growth to remain flat or grow by up to 3 percent, much slower than the 4-percent gain registered in the same period last year. Earnings per share, on the other hand, are now projected to be in the range of $1.40 to $1.55, versus a $1.59 growth in the same comparable period. A close-up of a mannequin outfitted with the company's latest collection of apparel. In the first quarter of the year, Ross Stores Inc.'s (NASDAQ:ROST) net income edged lower by 1.8 percent to $479 million from the $488 million registered in the same period last year. Revenues grew by 2.6 percent to $4.984 billion from $4.858 billion year-on-year. Overall, ROST ranks 7th on our list of Friday's worst-performing stocks. While we acknowledge the potential of ROST, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ROST and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
