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Ross Stores (ROST) investor relations material
Ross Stores Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary20 Nov, 2025
Executive summary
Third quarter sales grew 10% to $5.6 billion, with comparable store sales up 7% year-over-year, driven by strong assortments, marketing, and broad-based category and geographic gains.
Operating margin reached 11.6%, exceeding expectations despite a $0.05 per share negative impact from tariffs; net income was $512 million, EPS $1.58.
Year-to-date EPS was $4.61 on net income of $1.5 billion, with a $0.16 per share negative tariff impact.
Strong back-to-school season and effective marketing drove broad-based sales growth and higher customer engagement.
Branded strategy, focused on delivering high-quality, branded bargains, contributed to sequential business improvement, especially in the ladies' category.
Financial highlights
Net income for Q3 was $512 million, up from $489 million last year; EPS rose to $1.58 from $1.48.
Year-to-date sales reached $16.1 billion, with comparable store sales up 3% and net income at $1.5 billion.
Operating margin for Q3 was 11.6%, down 35 basis points due to tariffs and higher distribution costs.
Net cash provided by operating activities for the nine months was $1.91 billion, up from $1.47 billion in the prior year.
Store count increased to 2,273 from 2,192 year-over-year.
Outlook and guidance
Q4 comparable store sales forecast raised to 3%-4%, with EPS guidance of $1.77-$1.85.
Fiscal 2025 EPS guidance increased to $6.38-$6.46, including a $0.16 per share negative tariff impact.
Q4 operating margin expected between 11.5%-11.8%, lower than last year due to prior year’s facility sale benefit.
Tariff impact expected to be negligible in Q4, with full-year cost at $0.15-$0.16 per share.
Net interest income for Q4 estimated at $30 million; tax rate at 24%.
Explain Q4 tariff cost reduction
Q3 operating margin strength drivers
Reason for increased long-term debt payments?
Branded strategy's long-term margin opportunity?
Self-checkout ROI and rollout plans?
Marketing's impact on younger customer growth?
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Next Ross Stores earnings date
Q4 20265 Mar, 2026
Next Ross Stores earnings date
Q4 20265 Mar, 2026
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Frequently asked questions
Dress for Less
Ross Stores, Inc. is an American company operating a chain of discount retail department stores across the US. The company does business under the brand name “Ross Dress for Less”, and operates over 1,400 stores across the country. Ross Stores also operates a secondary chain of department stores called DD’s Discount. The company is headquartered in Dublin, California, and its shares are traded on the Nasdaq.
Restructuring and Expansion
Ross Stores can trace its roots back to 1950 when Morris Ross opened the first Ross Department Store in San Bruno, California. Morris Ross sold his store in 1958 to focus on other ventures, and In 1982, a group of investors, including Mervin Morris, founder of the Mervyns chain, recognized the potential in Ross's unique approach. They restructured the company and expanded its scope, emphasizing a broader range of merchandise, including men's and women's apparel, home decor, and accessories. The reimagined Ross Stores emphasized a no-frills shopping experience, offering significant discounts on designer and brand-name goods. By the early 21st century, Ross Stores had become one of the largest off-price retailers in the United States, operating hundreds of Ross Dress for Less stores across the country.
A Typical department Store
The merchandise sold at Ross Store’s retail locations is relatively similar to what is offered at other comparable department stores such as Kohl’s, Target, and other similar retailers. The store's inventory primarily consists of apparel, accessories, footwear, and home furnishings. In the apparel section, customers can find clothing for women, men, and children, encompassing a variety of styles from casual wear to business attire. This includes a selection of designer and brand-name items, often at discounted prices compared to traditional retail stores. Footwear in Ross Stores caters to all age groups, featuring a mix of everyday shoes, athletic footwear, and dress shoes. The accessory department includes a range of items such as handbags, wallets, belts, and jewelry, offering customers options to complement their attire. For home furnishings, Ross provides an assortment of products like bedding, kitchenware, small furniture, and decorative items.
DD’s Discount
DD's Discounts, a retail chain operated by Ross Stores, Inc., offers a similar approach to its parent company but with a focus on lower-priced items. Primarily targeting moderate-income households, DD's Discounts features a wide array of merchandise including apparel, footwear, home decor, and accessories, often at prices lower than those found at Ross Dress for Less. This includes a mix of closeouts, manufacturer buybacks, and overruns.
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