AI English summary of an SEC filing — figures as filed
Ross Stores ROSTThe company said sales for the 53-week fiscal 2023 rose $1.7 billion, or 9.0%, from the prior year. It cited a 5% increase in comparable store sales, 94 net new stores opened, and the impact of the 53rd week as the main factors.
Key points
AI summaryThe company said sales for the 53-week fiscal 2023 rose $1.7 billion, or 9.0%, from the prior year. It cited a 5% increase in comparable store sales, 94 net new stores opened, and the impact of the 53rd week as the main factors.
The company said its cost of goods sold as a percentage of sales for fiscal 2023 decreased by approximately 195 basis points from the prior year. It cited a 160 basis points increase in merchandise margin and a 60 basis points decrease in domestic freight costs as factors. It also said buying costs rose by 70 basis points.
The company said diluted earnings per share for fiscal 2023 were $5.56, up $1.18 from $4.38 in the prior year. It said the figure included a per share benefit of approximately $0.20 from the 53rd week. It also said the increase reflected a 24% rise in net earnings and a 3% reduction in weighted-average diluted shares outstanding.
The company said net cash provided by operating activities was $2.5 billion in fiscal 2023 ($1.7 billion in the prior year). It also said it had $4.9 billion in unrestricted cash at the end of the fiscal year and no borrowings under its $1.3 billion revolving credit facility.
Key figures
Fiscal year ended February 3, 2024
- Revenue
- $18.7B
- Net income
- $1.5B
- EPS
- $4.38
- Operating cash flow
- $1.7B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Fiscal 2023 sales up $1.7 billion
The company said sales for the 53-week fiscal 2023 rose $1.7 billion, or 9.0%, from the prior year. It cited a 5% increase in comparable store sales, 94 net new stores opened, and the impact of the 53rd week as the main factors.
Source · Based on the MD&A text of the filing
Cost of goods sold ratio down about 195 basis points
The company said its cost of goods sold as a percentage of sales for fiscal 2023 decreased by approximately 195 basis points from the prior year. It cited a 160 basis points increase in merchandise margin and a 60 basis points decrease in domestic freight costs as factors. It also said buying costs rose by 70 basis points.
Source · Based on the MD&A text of the filing
Diluted EPS $5.56
The company said diluted earnings per share for fiscal 2023 were $5.56, up $1.18 from $4.38 in the prior year. It said the figure included a per share benefit of approximately $0.20 from the 53rd week. It also said the increase reflected a 24% rise in net earnings and a 3% reduction in weighted-average diluted shares outstanding.
Source · Based on the MD&A text of the filing
Operating cash flow $2.5 billion and cash balance
The company said net cash provided by operating activities was $2.5 billion in fiscal 2023 ($1.7 billion in the prior year). It also said it had $4.9 billion in unrestricted cash at the end of the fiscal year and no borrowings under its $1.3 billion revolving credit facility.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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