Ross Stores Earnings Call Transcripts
Fiscal Year 2027
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Q2 2026 saw 10% comp sales growth and 13% total sales growth, driven by increased customer traffic and broad-based category and geographic strength. Gross margin and EPS surged, aided by tariff refunds, and guidance for the remainder of 2026 was raised, with continued store expansion and strong inventory flexibility.
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Q1 saw 21% sales growth and 37% EPS increase, driven by strong customer acquisition and broad-based category gains. Full-year guidance was raised, with continued robust store expansion and a focus on new customer segments, despite anticipated freight cost pressures.
Fiscal Year 2026
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The meeting covered director elections, approval of the 2026 Equity Incentive Plan, executive compensation, and auditor ratification, with all proposals passing. No shareholder questions were submitted during the Q&A session.
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Fourth quarter and full-year results exceeded expectations with strong sales, margin improvement, and broad-based growth across categories and regions. Guidance for 2026 projects continued sales and earnings growth, robust store expansion, and increased shareholder returns.
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Third quarter sales rose 10% to $5.6B with 7% comp growth, driven by strong assortments, marketing, and broad-based gains. Operating margin was 11.6%, EPS $1.58, and guidance for Q4 and FY25 was raised as tariff impacts are expected to be negligible.
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Q2 sales rose 5% to $5.5B with EPS of $1.56, as broad-based category and regional gains offset tariff headwinds. Guidance calls for 2%-3% comp growth in Q3 and Q4, with full-year EPS of $6.08-$6.21, reflecting ongoing tariff pressures and continued store expansion.
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Q1 sales rose 3% to $5B with flat comps and EPS of $1.47, as operating margin held steady. Tariffs and inflation present margin risks, prompting withdrawal of annual guidance, but Q2 sales are forecast to rise 2-6% with EPS of $1.40-$1.55. dd's DISCOUNTS and cosmetics led performance.
Fiscal Year 2025
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Q4 and full-year results met high-end expectations, with strong sales and margin stability despite macro headwinds. Guidance for 2025 is cautious, reflecting external volatility, but continued store growth, share buybacks, and increased dividends signal confidence in long-term strategy.
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Q3 sales growth slowed due to consumer pressures and weather, but earnings beat expectations on cost controls. Guidance for Q4 and full year remains positive, with ongoing focus on merchandising and brand strategy, and a leadership transition planned.
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Second quarter results exceeded expectations with 7% sales growth and a 115 bps margin improvement. Full-year EPS guidance was raised, supported by cost efficiencies and strong value-driven performance, though margin pressure from branded strategies is expected to increase in the second half.