S&P revises Ross Stores view to stable

S&P said it revised Ross Stores Inc.’s outlook to stable and affirmed all its ratings, including the BBB+ senior unsecured rating.

“We expect that positive sales and profit growth will resume in 2021. For 2021, we project significantly better operating performance versus the year-ago period that was hampered by temporary store, social distancing and other government-mandated Covid measures. This includes sales growth in the high-20% area and adjusted EBITDA more than double 2020 levels,” the agency said in a press release.

The outlook indicates the expectation that Ross will generate greater sales and EBITDA, along with positive comparable store sales growth, while maintaining leverage of less than 1x, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.