Ross Stores Stock Price, News & Analysis

Ross Stores opened 30 new locations, including 22 Ross Dress for Less and 8 dd's DISCOUNTS stores, across 11 states in June and July 2021. This expansion is part of their plan to add approximately 60 new stores in fiscal 2021. The company aims to grow to 2,400 Ross and 600 dd's DISCOUNTS locations long-term. Currently, Ross operates 1,896 locations in 40 states, generating fiscal 2020 revenues of $12.5 billion. The brand emphasizes significant savings of 20% to 70% off regular prices.

Ross Stores, Inc. (NASDAQ: ROST) announced the immediate resignation of Travis Marquette, CFO since 2019, who is leaving for another company. During the transition, senior Finance executives will report to Michael Hartshorn, Group President and COO, until new leadership is appointed. CEO Barbara Rentler expressed gratitude for Marquette's contributions and confidence in the existing Finance team to continue driving profitable growth. Ross operates 1,589 Ross Dress for Less® locations and 285 dd’s DISCOUNTS® stores, offering significant savings on in-season, name-brand products.

Ross Stores (NASDAQ: ROST) reported a 17% increase in earnings per share to $1.34 for the 13 weeks ending May 1, 2021, with net income of $476 million, compared to $421 million in the same period of 2019. Sales reached $4.5 billion, driven by a 13% rise in comparable store sales. The company announced a $1.5 billion stock repurchase program, allocating $650 million for 2021. Looking ahead, ROST forecasts a 5% to 7% increase in same-store sales for the 13 weeks ending July 31, 2021, and expects EPS between $0.80 and $0.89, reflecting ongoing cost pressures.

Ross Stores, Inc. (NASDAQ: ROST) declared a quarterly cash dividend of $0.285 per common share, payable on June 30, 2021, to stockholders of record as of June 8, 2021.

With fiscal 2020 revenues of $12.5 billion, Ross operates the largest off-price apparel and home fashion chain in the U.S., with 1,589 locations. The Company also runs 277 dd’s DISCOUNTS stores, offering significant savings on first-quality, in-season products.

Ross Stores, Inc. (NASDAQ: ROST) will announce its Q1 2021 earnings on May 20, 2021, at approximately 4:00 p.m. Eastern time. A conference call will follow at 4:15 p.m. Eastern time to discuss the results. Investors can access the audio webcast via the company's website. A recording will be available until May 27, 2021, at 8:00 p.m. Eastern time via the website and telephone at 404-537-3406.

Ross Stores, Inc. (NASDAQ: ROST) has announced leadership changes in its Board of Directors that will take effect after the Annual Stockholders Meeting on May 19, 2021. George Orban is set to be appointed as Chairman, while Barbara Rentler will become Vice Chair. Michael Hartshorn has been elected to the Board as of March 10, 2021. Current Chairman Michael Balmuth and Chairman Emeritus Norman Ferber will not seek re-election but will continue as senior advisors. These leadership shifts are expected to leverage extensive retail experience for the benefit of stockholders.

Ross Stores announced the opening of four Ross Dress for Less and three dd's DISCOUNTS locations across five states in February and March 2021. This initiative is part of a broader plan to open approximately 60 new stores in fiscal 2021, including 40 Ross and 20 dd's DISCOUNTS locations. Currently, the company operates a total of 1,866 stores across 40 states, with a long-term goal of reaching 2,400 Ross and 600 dd's DISCOUNTS locations. Fiscal 2020 revenues were reported at $12.5 billion.

Ross Stores, Inc. (NASDAQ: ROST) has appointed Doniel Sutton to its Board of Directors, effective March 11, 2021. Sutton brings over 20 years of experience in human capital leadership, having served as Chief People Officer at Fastly and held senior roles at PayPal, Prudential, Bank of America, and Honeywell. Michael Balmuth, Chairman of Ross Stores, expressed confidence in Sutton's capabilities to enhance the company’s people strategy and overall shareholder value. The company reported fiscal 2020 revenues of $12.5 billion and operates 1,585 Ross and 274 dd's DISCOUNTS locations.

Ross Stores, Inc. (NASDAQ: ROST) reported Q4 2020 earnings of $238 million, or $0.67 per share, with sales of $4.2 billion, reflecting a 6% drop in comparable store sales due to COVID-19 impacts. Full-year 2020 earnings were $0.24 per share on $12.5 billion in sales, affected by a $240 million one-time charge. The board reinstated a quarterly dividend of $0.285 per share. For Q1 2021, comparable store sales are projected to decline 1%-5%, with EPS guidance of $0.74 to $0.86. Optimism remains for long-term growth with plans to open 60 new locations in 2021.