(Reuters) -Discount store operator Ross Stores on Thursday withdrew its fiscal 2025 sales and profit forecasts and said tariffs could take a toll on its profitability this year, sending its shares down 8% in extended trading.
Ross Stores said more than half the goods it sells are made in China.
Macroeconomic uncertainty due to U.S. President Donald Trump’s tariff policy, along with still-high inflation, has forced many consumer-facing companies to trim or withdraw their expectations for the year.
“The volatility of trade policies and the corresponding impact on the economy, the consumer, and our profitability is highly unpredictable. During these uncertain times, we will focus on what we can control and manage the business conservatively,” said Ross Stores’ CEO Jim Conroy.
The company expects second-quarter earnings to be in the range of $1.40 to $1.55 per share, which includes a cost impact of $0.11 to $0.16 per share from announced tariffs.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Alan Barona)
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