Lithia Motors Inc
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Consumer Discretionary : Specialty Retail | Mid Cap Blend
Company profile

Lithia Motors, Inc. is a provider of personal transportation solutions. The Company offers approximately 30 brands of new vehicles and all brands of used vehicles in 201 locations in 21 states. It operates through three segments: Domestic, Import and Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles manufactured by Chrysler, General Motors and Ford. Its Import segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Honda, Toyota, Subaru, Nissan and Volkswagen. Its Luxury segment consists of retail automotive franchises that sell new vehicles manufactured primarily by BMW, Mercedes-Benz and Lexus. The Company also provides products and services including new and used vehicles, finance and insurance products and automotive repair and maintenance.

Closing Price
$229.57
Day's Change
-2.64 (-1.14%)
Bid
--
Ask
--
B/A Size
--
Day's High
232.92
Day's Low
225.00
Volume
(Light)
Volume:
271,439

10-day average volume:
376,351
271,439

Ross stock falls after retailer swings to quarterly loss

4:21 pm ET May 21, 2020 (MarketWatch)
Print

Shares of Ross Stores Inc. (ROST) fell more than 3% in the extended session Thursday after the retailer reported a surprise first-quarter loss and sales that were below Wall Street expectations. Ross said it lost $306 million, or 87 cents a share, in the quarter, versus earnings of $421 million, or $1.15 a share, in the prior-year period. Sales fell to $1.8 billion from $3.8 billion a year ago. Ross said that since most of its stores were open for less than seven weeks of the 13-week period, it was not reporting same-store sales. Analysts polled by FactSet had expected earnings of 13 cents a share on sales of $2.2 billion in the quarter. "Our first-quarter results reflect the unprecedented impact the COVID-19 pandemic has had on our business," Chief Executive Barbara Rentler said in a statement. The company began reopening some of its stores last week depending on location, and about 700 stores have reopened since. "We have a deep bench of proven and experienced leaders throughout the business as well as a very strong financial foundation with over $3.0 billion in liquidity, which in addition to our cash balances includes a new $500 million revolving credit facility," Rentler said. "All of this makes us confident in our ability to successfully navigate through these challenging times." The company also did not provide full-year or second-quarter guidance due to the "lack of visibility created by COVID-19 and the unknown extent of the impact the virus will have on consumer demand and store productivity." Ross shares ended the regular trading day up 6.6%.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

May 21, 2020 16:21 ET (20:21 GMT)

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