Ross Stores, Inc. ROST is scheduled to release third-quarter fiscal 2020 results on Nov 19. In the last reported quarter, the off-price retailer of apparel and home accessories beat the Zacks Consensus Estimate by 58.06%.The Zacks Consensus Estimate for fiscal third-quarter earnings is pegged at 63 cents, suggesting a decline of 38.8% from the year-ago period’s reported figure. Notably, the consensus estimate has moved north by 3.3% in the past seven days. Moreover, the consensus mark for revenues is pegged at $3.46 billion, indicating a decline of 10% from the figure reported in the year-ago quarter.Factors to NoteDriven by the impacts of the coronavirus outbreak-led closure of stores and distribution centers for most part of the quarter, Ross Stores continued to witness a decline in the top and bottom lines in the last reported quarter. The company started reopening its stores in a phased manner from May 14 and by the end of June, most of its stores were operational. The reopening of stores partly aided sales, owing to pent-up demand and higher markdowns. The reopened stores are likely to have boosted Ross Stores to some extent in the fiscal third quarter.Ross Stores, Inc. Price and EPS Surprise Ross Stores, Inc. price-eps-surprise | Ross Stores, Inc. QuoteMoreover, the company has been witnessing a decline in costs for the past two quarters. Cost of goods sold (COGS) fell 26.9% in second-quarter fiscal 2020 and 30% in the fiscal first quarter. Moreover, SG&A expenses declined 12.2% in the last reported quarter and 25.6% in the fiscal first quarter. Lower costs are likely to have favorably impacted the company’s bottom line in the fiscal third quarter.However, its top line was affected by depleted store inventory levels in the fiscal second quarter. Further, costs related to COVID-19 and the negative timing of pack away have been concerning.On the last reported quarter’s earnings call, management expected business trends to remain drab in the fiscal third quarter, with a year-over-year comparable store sales decline in mid-teens for the first two and a half weeks. Further, it has been uncertain about the impacts of COVID-19 on demand and the economy.Zacks ModelOur proven model does not conclusively predict an earnings beat for Ross Stores this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Ross Stores has a Zacks Rank #2 and an Earnings ESP of -1.84%.Stocks With Favorable CombinationHere are some companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat:Central Garden & Pet Company CENT currently has an Earnings ESP of +57.14% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.Best Buy Co., Inc. BBY presently has an Earnings ESP of +14.92% and a Zacks Rank #2.Signet Jewelers Limited SIG currently has an Earnings ESP of +13.95% and a Zacks Rank #2.Zacks Names “Single Best Pick to Double”From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Best Buy Co., Inc. (BBY): Free Stock Analysis Report Ross Stores, Inc. (ROST): Free Stock Analysis Report Central Garden & Pet Company (CENT): Free Stock Analysis Report Signet Jewelers Limited (SIG): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research