Ross Stores Stock Price, News & Analysis

Ross Stores, Inc. (NASDAQ: ROST) reported Q3 2020 earnings of $0.37 per share, down from $1.03 in Q3 2019. Net income fell to $131 million, compared to $371 million last year, impacted by a one-time charge of $240 million due to debt refinancing. Sales decreased 2% to $3.8 billion, with comparable store sales down 3%. For the first nine months, the company posted a loss of $(0.43) per share, netting a loss of $153 million, contrasting with a profit of $1.2 billion in 2019. The company maintains strong liquidity of $5.2 billion amid a challenging retail environment.

Ross Stores, Inc. (NASDAQ: ROST) is set to announce its third quarter 2020 earnings results on November 19, 2020, around 4:00 p.m. Eastern time. A conference call will follow at 4:15 p.m. Eastern time, providing further insights into the results. Investors can access the real-time audio webcast on the company's website. A recorded version will be available through November 27, 2020. This upcoming announcement may provide critical insights into the company's financial performance amidst changing retail dynamics.

Ross Stores announced the opening of 30 Ross Dress for Less and nine dd's DISCOUNTS stores across 17 states in October 2020, bringing the total new stores for fiscal 2020 to 66. The expansion includes 12 stores in California, Texas, and Florida, and entry into West Virginia and Arkansas. Ross operates 1,594 locations in 40 states, while dd's has 275 stores in 21 states. The company reported fiscal 2019 revenues of $16.0 billion, emphasizing its commitment to growth in existing and new markets.

Ross Stores, Inc. (NASDAQ: ROST) announced the closing of its public offering of $500 million in 0.875% senior notes due 2026 and $500 million in 1.875% senior notes due 2031 on October 21, 2020. The company raised approximately $987.2 million in net proceeds to fund the early settlement of pending tender offers. The early settlement on October 22, 2020, involved purchasing senior notes totaling $999,998,614, reaching the Aggregate Tender Cap of $1 billion. No additional senior notes will be accepted for purchase in the tender offers.

Ross Stores, Inc. (NASDAQ: ROST) announced the pricing of a public offering of $500 million in senior notes, split between $500 million due in 2026 at 0.875% interest and $500 million due in 2031 at 1.875%. The net proceeds will be used to repurchase outstanding senior notes ahead of previously announced tender offers, aiming to improve financial leverage. The offering is set to close on October 21, 2020, subject to conditions. The notes offering was executed under an effective registration statement with the SEC.

Ross Stores, Inc. (ROST) announced Reference Yields for its cash tender offers, increasing the Aggregate Tender Cap to $1 billion from $800 million. The Tender Offers aim to purchase senior notes listed in a priority table, with a total principal amount of up to $1 billion. The offers will expire on October 29, 2020. Key details include the Total Consideration based on Fixed Spread and Reference Yield for each series. No minimum tender condition is specified, and the company can waive or adjust terms as necessary. Investors can find more details in the Offer to Purchase document.

Ross Stores (NASDAQ: ROST) has announced the early tender results of its cash Tender Offers, now with an increased Aggregate Tender Cap of $1 billion. As of the early tender date on October 15, 2020, valid tenders included senior notes due 2024 to 2050, with varying principal amounts tendered. The Tender Offers allow for the purchase of up to the Aggregate Tender Cap, subject to acceptance priority levels. Investors can expect additional information regarding the total consideration for each series on October 16, 2020. The Offers will expire on October 29, 2020.

Ross Stores, Inc. (NASDAQ: ROST) announced the initiation of tender offers to purchase cash debt securities totaling up to $800 million for various senior notes due between 2024 and 2050. The tender offers will expire on October 29, 2020, with the early tender date set for October 15, 2020. Securities holders must validly tender to receive the total consideration, which includes an early tender payment of $30 per $1,000 principal amount. The company reserves the right to increase the aggregate tender cap, and payment for accepted securities will occur shortly after the expiration date.

Dublin, California -- Ross Stores, Inc. (NASDAQ: ROST) will release its second quarter 2020 earnings results on August 20, 2020, around 4:00 p.m. Eastern time. A conference call will follow at 4:15 p.m. Eastern time, where additional details about the results will be discussed. Investors can access a live audio webcast of the conference call via the company's website. A recorded version will also be available after the call and through a telephone recording service until August 27, 2020.