The company said it recorded earnings per share of $1.46 and net earnings of $488 million for the 13 weeks ended May 4, 2024, compared with earnings per share of $1.09 and net income of $371 million in the same period a year earlier.

1. 01

   The company said it recorded earnings per share of $1.46 and net earnings of $488 million for the 13 weeks ended May 4, 2024, compared with earnings per share of $1.09 and net income of $371 million in the same period a year earlier.

2. 02

   Ross Stores said sales for Q1 2024 rose 8% to $4.9 billion ($4.5 billion in the prior-year period), and comparable store sales increased 3%. Operating margin was 12.2%, up 205 basis points from 10.1% a year earlier. The company cited lower distribution, incentive and freight costs as partly offsetting the planned decline in merchandise margin.

3. 03

   The company said it expects comparable store sales for the 13 weeks ending August 3, 2024 to increase 2% to 3%, with earnings per share of $1.43 to $1.49. It projects fiscal 2024 earnings per share of $5.79 to $5.98 and leaves its full-year comparable store sales outlook unchanged at 2% to 3%.

4. 04

   The company repurchased 1.9 million shares for a total of $262 million in fiscal 2024 Q1, and said it plans to buy back a total of $1.05 billion of common stock in fiscal 2024. Net cash provided by operating activities for the same quarter was 368,921 (in thousands).

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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

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