Business
Ross Stores : Quarterly Report for Quarter Ending May 02, 2026 (Form 10-Q)
Ross Stores : Quarterly Report for Quarter Ending May 02, 2026 (Form
About this update from Ross Stores, Inc.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This section and other parts of this Form 10-Q contain forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such differences include, but are not limited to, those discussed below under the caption "Forward-Looking Statements" and also those in Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K for fiscal 2025. The following discussion should be read in conjunction with the condensed consolidated financial statements and notes thereto included elsewhere in this Quarterly Report on Form 10-Q and in conjunction with the consolidated financial statements and notes thereto in our Annual Report on Form 10-K for fiscal 2025. All information is based on our fiscal calendar. Overview Ross Stores, Inc. operates two brands of off-price retail apparel and home fashion stores-Ross Dress for Less® ("Ross") and dd's DISCOUNTS®. Ross is the largest off-price apparel and home fashion chain in the United States, with 1,917 locations in 44 states, the District of Columbia, Guam, and Puerto Rico as of May 2, 2026. Ross offers first-quality, in-season, brand name and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day. We also operate 365 dd's DISCOUNTS stores in 23 states as of May 2, 2026 that feature a more moderately-priced assortment of first-quality, in-season apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 70% off moderate department and discount store regular prices every day. Financial Highlights Financial results for the first quarter of fiscal 2026 were as follows: •Sales were $6,010 million, compared to $4,985 million in the first quarter of fiscal 2025. •Comparable store sales increased 17%. •Operating income was $804 million, compared to $606 million in the first quarter of fiscal 2025. •Operating income as a percentage of sales was 13.4%, compared to 12.2% in the first quarter of fiscal 2025. •Net income was $650 million, compared to $479 million in the first quarter of fiscal 2025. •Diluted earnings per share were $2.02, compared to $1.47 in the first quarter of fiscal...