Ross Stores ( (ROST) ) has released its Q1 earnings. Here is a breakdown of the information Ross Stores presented to its investors.
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Ross Stores, Inc., a leading off-price apparel and home fashion retailer in the United States, operates over 2,200 stores under the Ross Dress for Less and dd’s DISCOUNTS brands, offering significant savings on name brand merchandise.
In its latest earnings report, Ross Stores announced a slight increase in earnings per share to $1.47 for the first quarter of 2025, compared to $1.46 in the same period last year, despite a decrease in net income to $479 million from $488 million. The company reported sales of $5 billion, with comparable store sales remaining flat year-over-year.
Key highlights from the report include the repurchase of 2 million shares for $263 million as part of a $2.1 billion buyback program, with plans to repurchase $1.05 billion in shares during fiscal 2025. The operating margin remained steady at 12.2%, and the company continues to navigate challenges from inflation and trade policies, particularly tariffs on goods from China.
Looking ahead, Ross Stores projects flat to 3% growth in comparable store sales for the second quarter, with earnings per share expected to range between $1.40 and $1.55. The company remains cautious due to ongoing macroeconomic uncertainties and plans to manage its business conservatively, leveraging its experienced team and flexible business model to adapt to changing conditions.