Ross Stores Q1 2024 10-Q Filed

TL;DR

**ROSS STORES Q1 2024 10-Q FILED - FINANCIALS UPDATED**

AI Summary

Ross Stores, Inc. filed its 10-Q for the period ending May 4, 2024. The company reported its financial performance for the first quarter of fiscal year 2024. Key financial data and balance sheet information as of May 4, 2024, and February 3, 2024, were disclosed.

Why It Matters

This filing provides investors with an update on Ross Stores' financial health and performance, crucial for understanding the company's current standing in the retail sector.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 2024-05-04 — Reporting Period End (End of the first quarter of fiscal year 2024.)
• 2024-02-03 — Previous Period End (End of the previous fiscal year.)
• 2023-04-29 — Prior Year Period End (End of the comparable period in the prior fiscal year.)

Key Players & Entities

• ROSS STORES, INC. (company) — Filer
• 0000745732 (company) — Central Index Key
• 20240504 (date) — Reporting Period End Date
• 20240612 (date) — Filing Date
• 5130 HACIENDA DRIVE (address) — Business Address
• DUBLIN, CA (address) — Business Address City/State
• 94568 (address) — Business Address Zip

FAQ

Key Financial Figures

• $000 — ents of Earnings Three Months Ended ($000, except stores and per share data, unau

Filing Documents

• rost-20240504.htm (10-Q) — 701KB
• a2024templatecaexecutiveem.htm (EX-10.1) — 249KB
• nytemplate.htm (EX-10.2) — 285KB
• exhibit15rossq124awareness.htm (EX-15) — 3KB
• rost-20240504xex311.htm (EX-31.1) — 10KB
• rost-20240504xex312.htm (EX-31.2) — 10KB
• rost-20240504xex321.htm (EX-32.1) — 4KB
• rost-20240504xex322.htm (EX-32.2) — 4KB
• 0000745732-24-000035.txt ( ) — 4675KB
• rost-20240504.xsd (EX-101.SCH) — 27KB
• rost-20240504_cal.xml (EX-101.CAL) — 47KB
• rost-20240504_def.xml (EX-101.DEF) — 102KB
• rost-20240504_lab.xml (EX-101.LAB) — 418KB
• rost-20240504_pre.xml (EX-101.PRE) — 275KB
• rost-20240504_htm.xml (XML) — 461KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) Condensed Consolidated Statements of Earnings 3 Condensed Consolidated Statements of Comprehensive Income 4 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Stockholders ' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8 Report of Independent Registered Public Accounting Firm 15

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 16

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 22

Controls and Procedures

Item 4. Controls and Procedures 22

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 23

Risk Factors

Item 1A. Risk Factors 23

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23

Other Information

Item 5. Other Information 23

Exhibits

Item 6. Exhibits 24

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Condensed Consolidated Statements of Earnings Three Months Ended ($000, except stores and per share data, unaudited) May 4, 2024 April 29, 2023 Sales $ 4,858,067 $ 4,494,686 Costs and Expenses Cost of goods sold 3,490,672 3,292,606 Selling, general and administrative 776,282 746,222 Interest income, net ( 45,950 ) ( 31,397 ) Total costs and expenses 4,221,004 4,007,431 Earnings before taxes 637,063 487,255 Provision for taxes on earnings 149,073 116,064 Net earnings $ 487,990 $ 371,191 Earnings per share Basic $ 1.47 $ 1.10 Diluted $ 1.46 $ 1.09 Weighted-average shares outstanding (000) Basic 331,258 338,049 Diluted 333,737 340,044 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Condensed Consolidated Statements of Comprehensive Income Three Months Ended ($000, unaudited) May 4, 2024 April 29, 2023 Net earnings $ 487,990 $ 371,191 Other comprehensive income — — Comprehensive income $ 487,990 $ 371,191 The accompanying notes are an integral part of these condensed consolidated financial statements. 4 Condensed Consolidated Balance Sheets ($000, except share data, unaudited) May 4, 2024 February 3, 2024 April 29, 2023 Assets Current Assets Cash and cash equivalents $ 4,654,316 $ 4,872,446 $ 4,416,480 Accounts receivable 165,436 130,766 170,816 Merchandise inventory 2,461,699 2,192,220 2,241,735 Prepaid expenses and other 225,911 202,706 210,597 Total current assets 7,507,362 7,398,138 7,039,628 Property and Equipment Land and buildings 1,482,432 1,486,557 1,490,584 Fixtures and equipment 4,269,334 4,220,221 3,988,109 Leasehold improvements 1,602,433 1,577,102 1,449,771 Construction-in-progress 623,581 628,730 397,505 7,977,780 7,912,610 7,325,969 Less accumulated depreciation and amortization 4,462,587 4,380,709 4,101,236 Property and equipment, net 3,515,193 3,531,901 3,224,733 Operating lease assets 3,210,455 3,126,841 3,12

View Full Filing

View this 10-Q filing on SEC EDGAR