Ross Stores Plunges as Discount Retailer Cuts Profit, Sales Outlook

Shares of Ross Stores Inc. fell sharply in extended New York trading after the discount retailer cut its outlook for profit and sales. 

Ross said it sees the key retail metric of comparable sales falling 2% to 4% for the year, versus previous guidance of unchanged to a gain of as much as 3%. It also trimmed its forecast for earnings per share.