Ross Stores raised its annual profit forecast on Thursday, betting on resilient demand for its discounted apparel and accessories ahead of the holiday season amid looming macroeconomic uncertainties.

Shares of the company, which also beat estimates for third-quarter sales, were up about 3% in after-market trading.

Off-price retailers such as Ross Stores have been attracting budget-conscious customers as shoppers increasingly seek branded goods at lower prices due to persistent inflation and volatile trade policy.

"Core value shopper remained resilient despite lapsed SNAP benefits and broader tariff uncertainty weighing on household budgets," said eMarketer analyst Suzy Davidkhanian.

Rival TJX also raised its annual profit target on Wednesday, helped by strong demand for discounted app

See Full Page