ROSS STORES ANNOUNCES THE PASSING OF FORMER CHAIRMAN AND CEO NORMAN A. FERBER
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.
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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.
Details
News Market Reaction – ROST
On Jan 27, the first trading day after this news, ROST closed 0.84% below the previous close. That session’s volume was 1.5x the stock’s average daily volume.
Data tracked by StockTitan Argus for the Jan 27 session.
Key Figures
- 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
Historical Context
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Announced Executive Chairman transition and new Board chair appointment.
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Q3 EPS and sales exceeded guidance and full-year outlook was raised.
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Board declared regular quarterly cash dividend to shareholders.
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Announced timing and access details for Q3 2025 earnings release and call.
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Completed fiscal 2025 expansion with 90 new stores and reiterated growth targets.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
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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
About Ross Stores, Inc.
Ross Stores, Inc. is an S&P 500, Fortune 500, and Nasdaq 100 (ROST) company headquartered in
Contact: | William W. Sheehan II | Connie Kao |
Executive Vice President, | Senior Vice President, Investor Relations | |
Chief Financial Officer | (925) 965-4668 | |
(925) 965-4150 |
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SOURCE Ross Stores, Inc.
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