Ross Stores sales decline, posts loss

Ross Stores, Inc. said, both, first quarter sales and earnings reflect the closure of 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. For the 13 weeks ended May 2, 2020, the company reported a loss per share of 87 cents, versus earnings per share of 1.15 dollars for the prior year period, while the net loss was 306 million dollars compared to net income of 421 million dollars last year. Total first quarter sales were 1.8 billion dollars, down from 3.8 billion dollars in the prior year.