ROSS STORES ANNOUNCES THE PASSING OF FORMER CHAIRMAN AND CEO NORMAN A. FERBER

Rhea-AI Summary

Ross Stores (Nasdaq: ROST) announced the passing of Norman A. Ferber, former chairman and chief executive officer, who died on January 23, 2026 at age 77 after a brief illness. Mr. Ferber helped grow Ross from a six-store chain into a leading off-price retailer and served in roles including president, COO, CEO, and chairman, later advising the company for nearly 30 years.

To honor his legacy, Ross made a contribution to the Ross Cares Fund and the Ross Stores Foundation donated in his memory; the Moldaw-Zaffaroni Clubhouse named its main Art and Academic Room for Mr. Ferber. Ross reported fiscal 2024 revenue of $21.1 billion and operates 1,909 Ross Dress for Less locations and 364 dd's DISCOUNTS stores.

News Market Reaction – ROST

-0.84%

1 alert

-0.84% News Effect

On the day this news was published, ROST declined 0.84%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Fiscal 2024 revenue: $21.1 billion Ross stores: 1,909 locations Ross states: 44 states +5 more

8 metrics

Fiscal 2024 revenue $21.1 billion Company revenue disclosed in about section

Ross stores 1,909 locations Ross Dress for Less store count in U.S. and territories

Ross states 44 states States where Ross Dress for Less operates

dd's DISCOUNTS stores 364 locations dd's DISCOUNTS store count

dd's states 22 states States where dd's DISCOUNTS operates

Ross discount range 20%–60% off Everyday savings vs department and specialty store regular prices

dd's discount range 20%–70% off Everyday savings vs moderate department and discount store prices

Age at passing 77 years Age of former Chairman and CEO Norman A. Ferber

Market Reality Check

Price: $211.75 Vol: Volume 2,819,236 vs 20-da...

normal vol

$211.75 Last Close

Volume Volume 2,819,236 vs 20-day avg 2,063,109, about 1.37x typical trading activity. normal

Technical Price $187.57 is trading above the 200-day MA $153.09 and 3.77% below the 52-week high of $194.92.

Peers on Argus

ROST gained 0.82% while key peers were mostly down: BURL -0.93%, TJX -1.74%, BOO...

ROST gained 0.82% while key peers were mostly down: BURL -0.93%, TJX -1.74%, BOOT -0.6%, GAP -1.0%. LULU rose 0.93%, showing mixed sector action and suggesting a company-specific move.

Historical Context

5 past events · Latest: Nov 24 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 24	Board succession	Positive	+1.4%	Announced Executive Chairman transition and new Board chair appointment.
Nov 20	Earnings beat	Positive	+0.0%	Q3 EPS and sales exceeded guidance and full-year outlook was raised.
Nov 19	Dividend declaration	Positive	+0.3%	Board declared regular quarterly cash dividend to shareholders.
Nov 06	Earnings preview	Positive	+0.5%	Announced timing and access details for Q3 2025 earnings release and call.
Oct 13	Store expansion	Positive	+4.8%	Completed fiscal 2025 expansion with 90 new stores and reiterated growth targets.

Pattern Detected

Recent news events, especially on operations, earnings, and governance, have generally been followed by modest positive price reactions.

Recent Company History

Over the last few months, Ross Stores reported strong operating metrics, including Q3 FY2025 EPS of $1.58, $5.6B in quarterly sales, and continued store expansion to 2,273 locations. The company also declared a regular quarterly dividend of $0.405 per share and outlined Board chair succession plans. These announcements saw small positive price moves, indicating steady investor reception. Today’s announcement about the passing of former Chairman and CEO Norman Ferber fits into a period of orderly leadership transition and solid fundamentals.

Market Pulse Summary

This announcement honors the legacy of former Chairman and CEO Norman A. Ferber and underscores his ...

Analysis

This announcement honors the legacy of former Chairman and CEO Norman A. Ferber and underscores his role in building Ross Stores from a small chain into a large off-price retailer with $21.1B in fiscal 2024 revenue and 1,909 Ross locations plus 364 dd’s DISCOUNTS stores. It follows prior governance updates on Board succession and continued operational strength. Investors may watch for ongoing execution on store growth, profitability, and leadership continuity as key factors.

AI-generated analysis. Not financial advice.

DUBLIN, Calif., Jan. 26, 2026 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq: ROST) announced today that Norman Ferber, former Chairman and Chief Executive Officer, passed away on January 23, 2026 following a brief illness. He was 77 years old.

Mr. Ferber joined Ross Stores at its inception and was instrumental in shaping the Company's strategy, operating discipline, and culture as it grew from a small six-store chain into a leading off‑price retailer. Over decades of service, he assumed increasing leadership responsibilities, serving as President, Chief Operating Officer, Chief Executive Officer, and Chairman of the Board. Following his tenure as CEO, Mr. Ferber remained deeply engaged with the Company, providing valued counsel to senior management and continuing to contribute his experience and perspective through ongoing board and advisory roles for almost 30 years.

Michael Balmuth, Executive Chairman, commented, "I spent more than three decades working closely with Norman. He was not only an exceptional merchant and business leader, but also a trusted colleague and mentor whose insight, judgment, and integrity deeply influenced me throughout my career. As a visionary leader, he helped shape Ross Stores' long‑term strategy and growth, and his perspective was invaluable to both the Company and to me personally. I benefited greatly from his wisdom and friendship, and he will be deeply missed. On behalf of our Board of Directors, management team, and Ross Associates, we extend our deepest condolences to his wife Rosine, their children, grandchildren, and extended family and friends."

Jim Conroy, Chief Executive Officer, added, "Although I had the privilege of working with Norman for only a short time, his extraordinary passion for Ross and our Associates has left an enduring legacy. I will forever be grateful for his counsel and inspired by his relentless dedication and energy. Norman left a lasting impression on our organization, and his presence will be greatly missed."

To honor Norman's deep care for Ross Associates, the Company has made a contribution to the Ross Cares Fund, helping members of the Ross community navigate difficult times. Norman's commitment to the Company also extended into the community it serves. He was especially passionate about Ross' long-standing partnership with Boys & Girls Clubs of America and devoted significant time to the Moldaw-Zaffaroni Clubhouse in East Palo Alto as a volunteer and donor. In recognition of this dedication, the Ross Stores Foundation has made a donation in his memory. The Club has also named its main Art and Academic Room in Norman's honor, where programs such as Power Hour continue the academic support he personally championed. This dedication is especially meaningful, as the Clubhouse bears the name of Ross Founder and Chairman Emeritus, Stuart Moldaw, underscoring the enduring connection between Norman's legacy, Ross Stores, and the communities Ross supports.

About Ross Stores, Inc.
Ross Stores, Inc. is an S&P 500, Fortune 500, and Nasdaq 100 (ROST) company headquartered in Dublin, California, with fiscal 2024 revenues of $21.1 billion. Currently, the Company operates Ross Dress for Less^® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,909 locations in 44 states, the District of Columbia, Guam, and Puerto Rico. Ross offers first-quality, in-season, name brand 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. The Company also operates 364 dd's DISCOUNTS^® stores in 22 states that feature a more moderately-priced assortment of first-quality, in-season, name brand 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. Additional information is available at www.rossstores.com.

Contact:	William W. Sheehan II	Connie Kao
	Executive Vice President,	Senior Vice President, Investor Relations
	Chief Financial Officer	(925) 965-4668
	(925) 965-4150	connie.kao@ros.com

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SOURCE Ross Stores, Inc.

FAQ

When did former Ross CEO Norman A. Ferber die and how old was he?

Norman A. Ferber died on January 23, 2026 at the age of 77.

What roles did Norman Ferber hold at Ross Stores (ROST)?

He served as president, chief operating officer, chief executive officer, and chairman of the board, and later provided counsel in board and advisory roles for nearly 30 years.

How is Ross Stores honoring Norman Ferber’s legacy?

Ross contributed to the Ross Cares Fund, the Ross Stores Foundation donated in his memory, and the Moldaw-Zaffaroni Clubhouse named its main Art and Academic Room for him.

What community work was Norman Ferber known for with Ross?

He volunteered and donated to the Moldaw-Zaffaroni Clubhouse in East Palo Alto and championed programs like Power Hour through the Boys & Girls Clubs of America partnership.

What are Ross Stores’ reported fiscal 2024 revenue and store counts (ROST)?

Ross reported $21.1 billion in fiscal 2024 revenue and operates 1,909 Ross Dress for Less locations and 364 dd's DISCOUNTS stores.

Who commented on Norman Ferber’s passing at Ross Stores?

Michael Balmuth, Executive Chairman, and Jim Conroy, Chief Executive Officer, both provided statements expressing condolences and noting Mr. Ferber’s influence and legacy.