Ross Stores plunges after withdrawing annual forecasts on tariff pressures

Shares of discount store operator Ross Stores ROST.O down ~12% at $134.31 premarket

Co withdrew its annual forecasts on Thursday after markets closed and said it expects tariffs to take a toll on its profitability this year

Expects second-quarter earnings per share to be between $1.40 and $1.55 per share vs analysts' avg. estimate of $1.65 per share - data compiled by LSEG

Co's earnings forecast for second quarter includes cost impact of $0.11 to $0.16 per share from announced tariffs

Greater idiosyncratic challenges vs peers are drivers of ROST's relative underperformance and unique full-year guidance withdrawal, says Alex Straton, analyst with Morgan Stanley

Co posted first-quarter sales of $4.98 billion vs estimates of $4.97 billion

Logged quarterly profit of $1.47 per share vs estimates of $1.44

Up to last close, stock up 0.65% YTD