Ross Stores, Inc. Files Q2 2024 10-Q
Ticker: ROST · Form: 10-Q · Filed: Sep 11, 2024 · CIK: 745732
| Field | Detail |
|---|---|
| Company | Ross Stores, Inc. (ROST) |
| Form Type | 10-Q |
| Filed Date | Sep 11, 2024 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 19 min |
| Key Dollar Amounts | $000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-filing, retail
TL;DR
Ross Stores dropped its Q2 10-Q. Check financials.
AI Summary
Ross Stores, Inc. filed its 10-Q for the period ending August 3, 2024. The filing covers the second quarter of fiscal year 2024. Key financial data and operational details for this period are presented, reflecting the company's performance in the family clothing stores sector.
Why It Matters
This filing provides investors with an update on Ross Stores' financial health and operational performance for the second quarter of fiscal year 2024, impacting investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial information.
Key Players & Entities
- ROSS STORES, INC. (company) — Filer
- 20240803 (date) — Period of Report
- 20240911 (date) — Filed as of Date
- 5130 HACIENDA DRIVE (address) — Business Address
- DUBLIN (city) — Business Address City
- CA (state) — Business Address State
- 94568 (zip_code) — Business Address Zip
FAQ
What is the reporting period for this 10-Q filing?
The conforming period of report is 20240803, which corresponds to the second quarter of fiscal year 2024.
What is the company's central index key (CIK)?
The company's Central Index Key (CIK) is 0000745732.
What is the primary business address of Ross Stores, Inc.?
The primary business address is 5130 HACIENDA DRIVE, DUBLIN, CA 94568.
When was this 10-Q form filed?
This 10-Q form was filed as of September 11, 2024.
What is the Standard Industrial Classification (SIC) code for Ross Stores, Inc.?
The Standard Industrial Classification code is 5651, categorized under RETAIL-FAMILY CLOTHING STORES.
Filing Stats: 4,629 words · 19 min read · ~15 pages · Grade level 13.8 · Accepted 2024-09-10 17:40:54
Key Financial Figures
- $000 — Three Months Ended Six Months Ended ($000, except stores and per share data, unau
Filing Documents
- rost-20240803.htm (10-Q) — 851KB
- directorrsusforfinanceq2ex.htm (EX-10.1) — 83KB
- rost-20240803xex15q224awar.htm (EX-15) — 3KB
- rost-20240803xex311.htm (EX-31.1) — 10KB
- rost-20240803xex312.htm (EX-31.2) — 10KB
- rost-20240803xex321.htm (EX-32.1) — 4KB
- rost-20240803xex322.htm (EX-32.2) — 4KB
- 0000745732-24-000050.txt ( ) — 4240KB
- rost-20240803.xsd (EX-101.SCH) — 26KB
- rost-20240803_cal.xml (EX-101.CAL) — 47KB
- rost-20240803_def.xml (EX-101.DEF) — 101KB
- rost-20240803_lab.xml (EX-101.LAB) — 323KB
- rost-20240803_pre.xml (EX-101.PRE) — 224KB
- rost-20240803_htm.xml (XML) — 576KB
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 A bout Market Risk
Item 3. Quantitative and Qualitative Disclosures A bout Market Risk 22
Controls and Procedures
Item 4. Controls and Procedures 23
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 24
Risk Factors
Item 1A. Risk Factors 24
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24
Exhibits
Item 6. Exhibits 25
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Condensed Consolidated Statements of Earnings Three Months Ended Six Months Ended ($000, except stores and per share data, unaudited) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Sales $ 5,287,519 $ 4,934,905 $ 10,145,586 $ 9,429,591 Costs and Expenses Cost of goods sold 3,791,929 3,569,367 7,282,601 6,861,973 Selling, general and administrative 836,357 807,898 1,612,639 1,554,120 Interest income, net ( 43,350 ) ( 37,214 ) ( 89,300 ) ( 68,611 ) Total costs and expenses 4,584,936 4,340,051 8,805,940 8,347,482 Earnings before taxes 702,583 594,854 1,339,646 1,082,109 Provision for taxes on earnings 175,435 148,535 324,508 264,599 Net earnings $ 527,148 $ 446,319 $ 1,015,138 $ 817,510 Earnings per share Basic $ 1.60 $ 1.33 $ 3.07 $ 2.42 Diluted $ 1.59 $ 1.32 $ 3.05 $ 2.41 Weighted-average shares outstanding (000) Basic 329,392 336,231 330,325 337,140 Diluted 331,511 337,932 332,620 339,003 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Condensed Consolidated Statements of Comprehensive Income Three Months Ended Six Months Ended ($000, unaudited) August 3, 2024 July 29, 2023 August 3, 2024 July 29, 2023 Net earnings $ 527,148 $ 446,319 $ 1,015,138 $ 817,510 Other comprehensive income — — — — Comprehensive income $ 527,148 $ 446,319 $ 1,015,138 $ 817,510 The accompanying notes are an integral part of these condensed consolidated financial statements. 4 Condensed Consolidated Balance Sheets ($000, except share data, unaudited) August 3, 2024 February 3, 2024 July 29, 2023 Assets Current Assets Cash and cash equivalents $ 4,668,137 $ 4,872,446 $ 4,583,606 Accounts receivable 181,918 130,766 175,410 Merchandise inventory 2,490,558 2,192,220 2,300,063 Prepaid expenses and other 254,370 202,706 214,673 Total current assets 7,594,983 7,398,138 7,273,752 Property and Equipment Land and buildings 1,486,214 1,486,557 1,490,681 Fix