10-Q · June 2, 2026
Ross Stores, Inc. reported strong Q1 results with revenues reaching $6.01 billion, a 21% increase from $4.99 billion in Q1 2025. Diluted EPS climbed to $2.02, up 37% year-over-year from $1.47, reflecting robust company…
Earnings analysis · 10-Q
ROST earnings analysis
Filed September 1, 2026 · Our reading of the company's report
The latest report
Ross Stores reported a strong second quarter, with $6.265 billion of sales, $2.66 diluted EPS, a 17.6% operating margin, and 10% comparable-store sales growth based on the supplied earnings disclosure. The 10-Q shows no…
Read full summary
Ross Stores reported a strong second quarter, with $6.265 billion of sales, $2.66 diluted EPS, a 17.6% operating margin, and 10% comparable-store sales growth based on the supplied earnings disclosure. The 10-Q shows no Credit Facility borrowings as of August 1, 2026, but confirms four series of unsecured Senior Notes and substantial quarterly repurchases totaling 1,399,154 program shares. The supplied filing text does not provide segment results, balance-sheet detail, cash flow, free cash flow, or new quantitative guidance; it also points investors back to the prior 10-K for risk factors.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.66
- Operating margin
- 17.6%
What stood out
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Revenue and EPS materially beat estimates
Quarterly sales were $6.265 billion and diluted EPS was $2.66. The supplied earnings data shows revenue exceeded the $5.981 billion estimate and EPS exceeded the $1.82 estimate.
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Operating margin expanded 610 basis points
Operating margin expanded to 17.6%, a 610-basis-point improvement versus the prior-year quarter, according to the previously supplied earnings disclosure.
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Comparable sales rose 10%
Comparable-store sales increased 10%, supported by strong customer traffic, according to the previously supplied earnings disclosure.
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Share repurchases remained substantial
Ross repurchased 1,399,154 shares under publicly announced programs during the quarter at an average price of $227.86, leaving $1.9125 billion available under the authorization.
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Credit facility had no borrowings
As of August 1, 2026, the company had no borrowings outstanding under its Credit Facility and had four series of unsecured Senior Notes outstanding.
What to watch
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Variable-rate exposure remains limited
The filing states that Credit Facility interest is based on variable rates. However, as of August 1, 2026, borrowings were $0, and management concluded that a hypothetical 100-basis-point rate change would not have a material negative impact on financial position, results, cash flows, or fair values.
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No new risk-factor disclosure
The filing directs investors to the fiscal 2025 Form 10-K for the company’s risk factors and does not identify amended or additional risk factors in the supplied text. The filing nevertheless reports four outstanding fixed-rate Senior Note series, which remain exposed to refinancing and credit-market conditions despite being unaffected by changes in prevailing rates.
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Ongoing buybacks use liquidity
The filing reports $1.9125 billion remaining under the repurchase authorization after 1,399,154 program shares were purchased in the quarter. Continued repurchases could reduce liquidity available for operations, capital spending, or other uses.
Management's outlook
The provided 10-Q text does not include quantitative revenue or EPS guidance. Prior fiscal 2026 guidance was disclosed in the August 20, 2026 earnings release, not in the supplied 10-Q text.
Earlier filings 4
10-K · March 31, 2026
Ross Stores, Inc. reported strong financial performance for fiscal 2025, achieving $22.75 billion in sales, an 8% increase from $21.13 billion in 2024. The company's operating income reached $2.71 billion with a diluted…
10-Q · December 10, 2025
Ross Stores, Inc. reported a solid third quarter for fiscal 2025, with revenues increasing by 10% year-over-year to $5.6 billion, surpassing estimates. Despite slight declines in gross and operating margins, the company…
10-Q · September 10, 2025
Ross Stores, Inc. reported Q2 2025 earnings with revenue of $5.29 billion, marking a 5% increase year-over-year, while gross margin slightly improved to 28.3%. EPS came in at $1.56, exceeding estimates but reflecting a…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.