Summary
Ross Stores, Inc. (ROST) reported strong performance in its 2009 10-K filing, reflecting resilience in its off-price retail model amidst a challenging economic climate. The company demonstrated consistent sales growth, driven by strategic store expansion and the increasing consumer demand for value. Despite macroeconomic pressures, ROST maintained tight control over operating expenses and inventory levels, contributing to improved profitability and earnings per share. The company also continued its commitment to returning value to shareholders through consistent dividend payments and an active stock repurchase program. Financially, ROST showcased robust operating cash flow, enabling continued investment in new stores and store enhancements while also supporting shareholder returns. The balance sheet remained solid, with sufficient liquidity and manageable debt levels. The company's strategic focus on providing name-brand merchandise at significant discounts appears to resonate well with consumers navigating economic uncertainty, positioning it favorably for sustained performance.
Financial Highlights
25 data points| Revenue | $6.49B |
| Cost of Revenue | $4.96B |
| Gross Profit | $1.53B |
| SG&A Expenses | $1.03B |
| Operating Expenses | $5.99B |
| Net Income | $305.44M |
| EPS (Basic) | $0.59 |
| EPS (Diluted) | $0.58 |
| Shares Outstanding (Basic) | 516.94M |
| Shares Outstanding (Diluted) | 525.26M |
Key Highlights
- 1Achieved 8.6% sales growth in fiscal 2008 to $6.49 billion, outpacing the broader national apparel market which declined.
- 2Comparable store sales increased by 2% in fiscal 2008, indicating healthy performance in existing locations.
- 3Net earnings increased by 17% to $305.4 million in fiscal 2008, with diluted EPS rising 23% to $2.33.
- 4Expanded its store base by 66 net new stores in fiscal 2008, reaching a total of 956 locations.
- 5Returned significant capital to shareholders through a $300 million stock repurchase program and consistent dividend payments, with the dividend per share increasing from $0.320 in 2007 to $0.395 in 2008.
- 6Maintained strong operating cash flow of $583.4 million in fiscal 2008, supporting investments and shareholder returns.
- 7The company's cost of goods sold as a percentage of sales decreased by approximately 90 basis points in fiscal 2008, driven by a 100 basis point increase in merchandise gross margin.