Ross Stores says that housing and food costs continue to pressure its customers

Ross Stores Inc. late Tuesday blew past expectations for its holiday quarter but spooked investors by saying that higher costs of living continue to pressure its customers.

While inflation has moderated, there is ongoing macroeconomic and geopolitical uncertainty, and “housing, food, and gasoline costs remain elevated and continue to pressure our low- to moderate-income customers’ discretionary spend,” the off-price retailer said.

“As…