Ross Stores plunges after pulling annual forecasts on tariff hit

Shares of discount store operator Ross Stores ROST.O slump as much as 14.4% to $130.40 in early trading

Co withdrew its annual forecasts on Thursday after markets closed, warning of a hit from tariffs to its profitability this year

*Stock set for its worst day since May 2022

Co expects Q2 EPS between $1.40 and $1.55 vs analysts' avg. estimate of $1.65 - data compiled by LSEG

Over half of ROST's merchandise is sourced from China

"We were surprised by management's ominous stance when discussing the remainder of 2025 as we expect Ross to comfortably withstand, and perhaps even benefit, from economic uncertainty" - Morningstar analyst Noah Rohr

ROST beat Q1 sales and profit estimates on steady demand for cheaper clothing and accessories

Peer Burlington Stores' BURL.O shares down 8% at $237.8

Up to last close, ROST stock up 0.65% YTD