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Ross Stores Inc. (ROST+1.76%) has submitted its 10-K filing for the fiscal year ended February 1, 2025.
The filing reports that Ross Stores operates 1,831 Ross Dress for Less locations and 355 dd’s DISCOUNTS stores across the United States, the District of Columbia, and Guam.
Sales for fiscal 2024 increased by 3.7% to $21.1 billion, with a comparable store sales increase of 3%.
Cost of goods sold as a percentage of sales decreased to 72.2% from 72.7% in the prior year.
Operating income as a percentage of sales increased to 12.2% from 11.3% in fiscal 2023.
Net earnings for fiscal 2024 were $2.1 billion, with diluted earnings per share rising to $6.32 from $5.56 in the previous year.
The company opened 89 new stores during the fiscal year and plans to open approximately 90 new stores in fiscal 2025.
Ross Stores ended the fiscal year with $4.7 billion in cash and cash equivalents, and it repurchased 7.3 million shares of common stock during the year.
The company declared a quarterly cash dividend of $0.4050 per share, payable on March 31, 2025.
Ross Stores continues to focus on its off-price retail strategy, emphasizing value and convenience for customers.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Ross Stores Inc. annual 10-K report dated April 1, 2025. To report an error, please email earnings@qz.com.