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Ross Stores (ROST)

Ross Stores, Inc. is an S&P 500, Fortune 500, and NASDAQ 100 (ROST) company headquartered in Dublin, California, with fiscal 2019 revenues of $16.0 billion. As of August 1, 2020, the Company operates Ross Dress for Less® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,566 locations in 39 states, the District of Columbia, and Guam. 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.

Company profile

Ticker
ROST
Exchange
CEO
Barbara Rentler
Employees
Incorporated
Location
Fiscal year end
Former names
ROSS STORES INC
SEC CIK
Subsidiaries
Ross Procurement Inc. • Ross Merchandising Inc. • Ross Dress For Less, Inc. • Retail Assurance Group, Inc. • Ross Distribution Company, LLC ...
IRS number
941390387

ROST stock data

Calendar

7 Jun 22
12 Aug 22
28 Jan 23
Quarter (USD) Apr 22 Jan 22 Oct 21 Jul 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Jan 21 Jan 20 Feb 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 4.08B 4.08B 4.08B 4.08B 4.08B 4.08B
Cash burn (monthly) 302.26M 112.6M (no burn) (no burn) 138.76M (no burn)
Cash used (since last report) 1.04B 388.38M n/a n/a 478.59M n/a
Cash remaining 3.03B 3.69B n/a n/a 3.6B n/a
Runway (months of cash) 10.0 32.7 n/a n/a 25.9 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Jul 22 Brian R. Morrow Common Stock Grant Acquire A No No 0 19,236 0 102,593
8 Jun 22 Bush Michael J Common Stock Sell Dispose S No No 81.4559 1,000 81.46K 34,496
3 Jun 22 Sharon D Garrett Common Stock Gift Acquire G Yes No 0 1,014 0 209,050
3 Jun 22 Sharon D Garrett Common Stock Gift Dispose G No No 0 1,014 0 3,164
26 May 22 Patricia H Mueller Common Stock Gift Acquire G Yes No 0 1,340 0 2,254
26 May 22 Patricia H Mueller Common Stock Gift Dispose G No No 0 1,340 0 3,501
26 May 22 Sharon D Garrett Common Stock Gift Acquire G Yes No 0 546 0 208,036
26 May 22 Sharon D Garrett Common Stock Gift Dispose G No No 0 546 0 4,178
13F holders Current Prev Q Change
Total holders 802 844 -5.0%
Opened positions 82 117 -29.9%
Closed positions 124 86 +44.2%
Increased positions 296 292 +1.4%
Reduced positions 300 292 +2.7%
13F shares Current Prev Q Change
Total value 27.16B 34.87B -22.1%
Total shares 300.06M 306.06M -2.0%
Total puts 1.13M 2.04M -44.8%
Total calls 1.18M 1.53M -22.9%
Total put/call ratio 1.0 1.3 -28.4%
Largest owners Shares Value Change
TROW T. Rowe Price 48.66M $4.4B -5.9%
BLK Blackrock 28.97M $2.62B +3.8%
Vanguard 27.51M $2.49B +0.5%
STT State Street 16.37M $1.48B -3.8%
FMR 12.08M $1.09B +13.7%
Primecap Management 11.34M $1.03B +0.5%
Massachusetts Financial Services 6.6M $596.79M +34.8%
Geode Capital Management 5.97M $538.58M +3.5%
JPM JPMorgan Chase & Co. 5.18M $468.96M +6.6%
Victory Capital Management 4.69M $437.98M +47.8%
Largest transactions Shares Bought/sold Change
Wellington Management 160.88K -4.66M -96.7%
BlueSpruce Investments 3.82M +3.82M NEW
Norges Bank 0 -3.5M EXIT
TROW T. Rowe Price 48.66M -3.07M -5.9%
BEN Franklin Resources 4.5M -2.8M -38.4%
Bessemer 553.03K -2.19M -79.8%
Alecta Pensionsforsakring, Omsesidigt 2.07M -1.79M -46.4%
Massachusetts Financial Services 6.6M +1.7M +34.8%
Holocene Advisors 1.92M +1.65M +609.4%
Victory Capital Management 4.69M +1.51M +47.8%

Financial report summary

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Competition
Citi Trends
Risks
  • The COVID-19 pandemic continues to adversely affect our sales and our operations, and we expect it to continue to have adverse effects on our business and our financial performance.
  • We are subject to impacts from the macro-economic environment, financial and credit markets, and geopolitical conditions that affect consumer confidence and consumer disposable income. The COVID-19 pandemic and accompanying economic impacts, including supply chain disruptions and inflation, and the developing Russia-Ukraine conflict and accompanying economic impacts, may have prolonged and significant negative effects on consumer confidence, shopping behavior, and spending, which may adversely affect our sales and gross margins.
  • We need to successfully operate under the health and safety measures implemented in our stores and distribution centers, and across all our operations, to comply with regulatory requirements and with the goal of keeping our customers and associates safe from the spread of the COVID-19 virus without disruptions to our operations.
  • Competitive pressures in the apparel and home-related merchandise retailing industry are high.
  • Unexpected changes in the level of consumer spending on or preferences for apparel and home-related merchandise could adversely affect us.
  • Adverse and/or unseasonable weather may affect shopping patterns and consumer demand for seasonal apparel and other merchandise, and may result in temporary store closures and disruptions in deliveries of merchandise to our stores.
  • In order to achieve our planned gross margins, we must effectively manage our inventories, markdowns, and inventory shortage. As a result of changes in shopping behaviors due to the COVID-19 pandemic, disruptions to supply chains and store operations, and inflation, we are at risk for inventory imbalances and the potential for higher than normal levels of markdowns to sell through our inventory, increased cost of goods, and for lost sales due to insufficient inventory to meet customer demand, any of which would negatively affect our gross margins and our operating results.
  • We depend on the market availability, quantity, and quality of attractive brand name merchandise at desirable discounts, and on the ability of our buyers to purchase merchandise to enable us to offer customers a wide assortment of merchandise at competitive prices.
  • Information or data security breaches, including cyber-attacks on our transaction processing and computer information systems, could result in theft or unauthorized disclosure of customer, credit card, employee, or other private and valuable information that we handle in the ordinary course of our business, disrupt our operations, damage our reputation, and increase our costs.
  • Disruptions in our supply chain or in our information systems could impact our ability to process sales and to deliver product to our stores in a timely and cost-effective manner.
  • We need to obtain acceptable new store sites with favorable consumer demographics to achieve our planned growth.
  • To achieve growth, we need to expand in existing markets and enter new geographic markets.
  • Consumer problems or legal issues involving the quality, safety, or authenticity of products we sell could harm our reputation, result in lost sales, and/or increase our costs.
  • An adverse outcome in various legal, regulatory, or tax matters could damage our reputation or brand and increase our costs.
  • Damage to our corporate reputation or brands could adversely affect our sales and operating results.
  • Our inability to continually attract, train, and retain associates with the retail talent necessary to execute our off-price retail strategies along with labor shortages, increased turnover, or increased labor costs could adversely affect our operating results.
  • We must effectively advertise and market our business.
  • We are subject to risks associated with selling and importing merchandise produced in other countries.
  • Changes in U.S. tax or trade policy regarding apparel and home-related merchandise produced in other countries could adversely affect our business.
  • We may experience volatility in revenues and earnings.
  • A pandemic, natural or man-made disaster in California or in another region where we have a concentration of stores, offices, or a distribution center could harm our business.
  • To support our continuing operations, our new store and distribution center growth plans, our quarterly dividends, and our stock repurchase program, we must maintain sufficient liquidity; the COVID-19 pandemic and related economic disruptions are adding significant uncertainty and challenges.
  • We are subject to impacts from instances of damage to our stores and losses of merchandise accompanying protests or demonstrations, which may result in temporary store closures.
Management Discussion
  • Sales underperformed in the first quarter. The recent and current external environment has also proven extremely challenging as the Russia-Ukraine conflict has exacerbated inflationary pressures on the consumer not seen in 40 years. During the quarter, we experienced the deleveraging effects from a comparable store sales decline of 7% after the robust 13% gain in the first quarter of 2021 (versus 2019), combined with ongoing headwinds from higher freight and wage costs that began rising in the second half of 2021. These factors resulted in diluted earnings per share of $0.97 (which included approximately $0.06 of favorable timing of expenses) in the first quarter of fiscal 2022, compared to $1.34 per share in the first quarter of fiscal 2021. We expect higher freight costs, distribution expenses, and wages to continue through fiscal 2022.

Content analysis

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