Ross Stores, Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>Ross Stores, Inc. has filed its 2024 10-K report detailing financial performance and assets for fiscal years 2021-2023.</b>

AI Summary

ROSS STORES, INC. (ROST) filed a Annual Report (10-K) with the SEC on April 2, 2024. Ross Stores, Inc. filed its annual report on Form 10-K for the fiscal year ended February 3, 2024. The filing covers the fiscal year 2023, with data points for fiscal years 2021, 2022, and 2023. Key financial statement components such as Common Stock, Additional Paid-In Capital, Treasury Stock, and Retained Earnings are detailed for the reporting periods. Information regarding the number of stores for segments like Ross Dress for Less and dd's DISCOUNTS is included. Details on property, plant, and equipment, including minimum and maximum values for categories like Equipment, Land/Buildings, and Software Development Costs, are provided.

Why It Matters

For investors and stakeholders tracking ROSS STORES, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Ross Stores' financial health and operational structure for the fiscal year 2023, crucial for investors assessing the company's stability and growth prospects. The detailed breakdown of assets, equity, and store counts across different segments offers insights into the company's strategic positioning and resource allocation within the competitive retail landscape.

Risk Assessment

Risk Level: medium — ROSS STORES, INC. shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual disclosure. While it contains detailed financial information, it does not inherently signal immediate, significant positive or negative events beyond normal business operations.

Analyst Insight

Investors should review the detailed financial statements and segment performance within the 10-K to understand Ross Stores' operational efficiency and asset management for future investment decisions.

Key Numbers

• 2024-02-03 — Fiscal Year End (The end date of the reporting fiscal year.)
• 2024-04-02 — Filing Date (The date the 10-K report was filed with the SEC.)
• 2023 — Fiscal Year (The primary fiscal year covered by the report.)
• 2022 — Prior Fiscal Year (A prior fiscal year for comparative data.)
• 2021 — Prior Fiscal Year (An earlier fiscal year for comparative data.)

Key Players & Entities

• ROSS STORES, INC. (company) — Filer name
• ROST (company) — Ticker symbol
• 2024-02-03 (date) — Fiscal year end date
• 2024-04-02 (date) — Filing date
• 5130 HACIENDA DRIVE (address) — Business address
• DUBLIN, CA (address) — Business address city and state
• Ross Dress for Less (company) — Segment name
• dd's DISCOUNTS (company) — Segment name

FAQ

Key Dates

• 2024-02-03: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-02: Filing Date — The date the 10-K was officially submitted to the SEC.

Filing Documents

• rost-20240203.htm (10-K) — 1348KB
• brinkleystephen-contract.htm (EX-10.31) — 239KB
• exhibit21fy23subsidiaries.htm (EX-21) — 6KB
• exhibit23rossfy23consent.htm (EX-23) — 2KB
• rost-20240203xex311.htm (EX-31.1) — 10KB
• rost-20240203xex312.htm (EX-31.2) — 10KB
• rost-20240203xex321.htm (EX-32.1) — 4KB
• rost-20240203xex322.htm (EX-32.2) — 5KB
• rossstoresincclawbackpolic.htm (EX-97.1) — 28KB
• rost-20240203_g1.jpg (GRAPHIC) — 111KB
• 0000745732-24-000009.txt (&nbsp;) — 6960KB
• rost-20240203.xsd (EX-101.SCH) — 45KB
• rost-20240203_cal.xml (EX-101.CAL) — 80KB
• rost-20240203_def.xml (EX-101.DEF) — 137KB
• rost-20240203_lab.xml (EX-101.LAB) — 514KB
• rost-20240203_pre.xml (EX-101.PRE) — 354KB
• rost-20240203_htm.xml (XML) — 883KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 18 Item 1C. Cybersecurity 19 Item 2.

Properties

Properties 19 Item 3.

Legal Proceedings

Legal Proceedings 22 Item 4. Mine Safety Disclosures 22 PART II Item 5. Market for Registrant ' s Common Equity, Related Stockholder Matters , and Issuer Purchases of Equity Securities 23 Item 6. Reserved 26 Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 26 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 34 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 35 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 56 Item 9A.

Controls and Procedures

Controls and Procedures 56 Item 9B. Other Information 56 Item 9C . Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 57 PART III Item 10. Directors, Executive Officers and Corporate Governance 57 Item 11.

Executive Compensation

Executive Compensation 57 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 58 Item 13. Certain Relationships and Related Transactions, and Director Independence 58 Item 14. Principal Accountant Fees and Services 58 PART IV Item 15. Exhibits and Financial Statement Schedules 59

Signatures

Signatures 60 Index to Exhibits 62 2 PART I

BUSINESS

ITEM 1. BUSINESS Ross Stores, Inc. and its subsidiaries ("we" or the "Company") operate two brands of off-price retail apparel and home fashion stores—Ross Dress for Less ("Ross") and dd's DISCOUNTS . Ross is the largest off-price apparel and home fashion chain in the United States, with 1,764 locations in 43 states, the District of Columbia, and Guam, as of February 3, 2024. 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. Ross' target customers are primarily from middle income households. We also operate 345 dd's DISCOUNTS stores in 22 states as of February 3, 2024. dd's DISCOUNTS features more moderately-priced first-quality, in-season, name brand apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 70% off moderate department and discount store regular prices every day. The typical dd's DISCOUNTS store is located in an established shopping center in a densely populated urban or suburban neighborhood, and its target customers typically come from households with more moderate incomes than Ross customers. The merchant, store field, and distribution operations for Ross and dd's DISCOUNTS are separate. The two chains share certain corporate and support services. Both our Ross and dd's DISCOUNTS brands target value-conscious customers. The decisions we make, from merchandising, purchasing, and pricing, to the locations of our stores, are based on these customer profiles. We believe that both brands derive a competitive advantage by offering a wide assortment of product within each of our merchandise categories, in organized and easy-to-shop store environments. Our mission is to offer competitive values to our target customers by focusing on the following key strategic objectives: Maintain an appropriate level of recognizable brands, labels, and fa

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View this 10-K filing on SEC EDGAR