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Ross Stores Q2 net income down

Christian Fernsby ▼ | August 21, 2020
Ross Stores reported its 2020 second quarter and first half financial results.
Ross Stores
Ross Stores   This compares to net income of $413 million last year
The Company reported net income of $22.0 million.

Topics: Ross Stores

This compares to net income of $413 million last year.

Total sales for the period were $2.7 billion, down from $4.0 billion in the second quarter of 2019.

Comparable store sales were down 12% for reopened stores from the date of their reopening to the end of the fiscal quarter.

econd quarter 2020 results include a $174 million benefit related to the partial reversal of the inventory valuation reserve from the first quarter.