Ross Stores beats Q4 expectations with EPS $1.82, raises dividend, authorizes $2.1B buyback

ROSS STORES, INC.

2023-FY EPS reported $5.56 revenue$20,376,941,000

Q4 EPS $1.82 vs $1.31 prior year; net income $610M (up 36%); sales $6.0B; comp store sales +7%.
Fiscal 2023 EPS $5.56 vs $4.38; net earnings $1.9B on $20.4B sales; comp sales +5% (incl. 53rd week benefit).
Board approved new $2.1B two-year stock repurchase program (11% increase) and raised quarterly dividend 10% to $0.3675/share.
FY2024 guidance: same store sales +2%-3%; EPS $5.64-$5.89; Q1 EPS $1.29-$1.35.
CEO cites improved assortments driving sales; cautious outlook due to elevated housing, food, and gasoline costs.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ROSS STORES, INC. reported the 13 weeks ending May 4, 2024 results: EPS $1.29 to $1.35. Guidance initiated.

Period: the 13 weeks ending May 4, 2024
EPS: $1.29 to $1.35
Guidance: initiated
Result: guidance update

Exact text from the filing

For the 13 weeks ending May 4, 2024, comparable store sales are forecast to be up 2% to 3% with earnings per share projected to be $1.29 to $1.35, up from $1.09 in the first quarter ended April 29, 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ROSS STORES, INC. reported the 14 weeks ended February 3, 2024 results: revenue $6.0 billion, net income $610 million, EPS $1.82.

Period: the 14 weeks ended February 3, 2024
Revenue: $6.0 billion
Net income: $610 million
EPS: $1.82
Result: reported results

Exact text from the filing

ROSS STORES REPORTS RESULTS FOR FOURTH QUARTER AND FISCAL 2023 ANNOUNCES NEW TWO-YEAR STOCK REPURCHASE AUTHORIZATION AND RAISES QUARTERLY CASH DIVIDEND PROVIDES FIRST QUARTER AND FISCAL 2024 GUIDANCE Dublin, California, March 5, 2024 -- Ross Stores, Inc. (NASDAQ: ROST) today reported earnings per share for the 14 weeks ended February 3, 2024 of $1.82, up from $1.31 per share for the 13 weeks ended January 28, 2023. Net income for the period rose to $610 million versus $447 million last year. Sales for the 14 weeks ended February 3, 2024 grew to $6.0 billion

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ROSS STORES, INC. reported the 53 weeks ended February 3, 2024 results: revenue $20.4 billion, net income $1.9 billion, EPS $5.56.

Period: the 53 weeks ended February 3, 2024
Revenue: $20.4 billion
Net income: $1.9 billion
EPS: $5.56
Result: reported results

Exact text from the filing

Fiscal 2023 earnings per share for the 53 weeks ended February 3, 2024 grew to $5.56, up from $4.38 in the 52-week fiscal 2022 year ended January 28, 2023. Net earnings for fiscal 2023 were $1.9 billion on sales of $20.4 billion, up from net earnings of $1.5 billion in fiscal 2022 on sales of $18.7 billion.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ROSS STORES, INC. reported the 52 weeks ending February 1, 2025 results: EPS $5.64 to $5.89. Guidance initiated.

Period: the 52 weeks ending February 1, 2025
EPS: $5.64 to $5.89
Guidance: initiated
Result: guidance update

Exact text from the filing

For the 52 weeks ending February 1, 2025, the Company is planning same store sales to grow 2% to 3% on top of a solid 5% gain in 2023. Based on these assumptions, fiscal 2024 earnings per share are projected to be $5.64 to $5.89 compared to $5.56 for the fiscal year ended February 3, 2024.

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Source: SEC EDGAR

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