Summary
Ross Stores, Inc. reported strong financial results for the nine months ended October 27, 2012, with net sales increasing by 12% to $6.96 billion and net earnings growing by 18% to $550.2 million. This growth was driven by a combination of opening new stores and a significant 7% increase in comparable store sales, building on a 5% increase in the prior year. Diluted earnings per share (EPS) also saw a healthy increase of 22% to $2.46 for the nine-month period. The company demonstrated effective cost management, with selling, general, and administrative expenses as a percentage of sales decreasing due to leverage from strong comparable store sales. While cost of goods sold as a percentage of sales saw some minor fluctuations, overall profitability remained robust. Ross Stores continues to actively return capital to shareholders through its stock repurchase program and dividend payments. The company's balance sheet remains solid, with ample liquidity and a strong cash flow from operations supporting its growth initiatives and shareholder returns.
Financial Highlights
47 data points| Revenue | $2.26B |
| Cost of Revenue | $1.65B |
| Gross Profit | $613.73M |
| SG&A Expenses | $357.98M |
| Operating Expenses | $2.01B |
| Net Income | $159.52M |
| EPS (Basic) | $0.36 |
| EPS (Diluted) | $0.36 |
| Shares Outstanding (Basic) | 437.17M |
| Shares Outstanding (Diluted) | 444.37M |
Key Highlights
- 1Net sales increased by 12% to $6.96 billion for the nine months ended October 27, 2012.
- 2Net earnings rose by 18% to $550.2 million for the nine months ended October 27, 2012.
- 3Comparable store sales grew by 7% for the nine months, indicating strong customer demand.
- 4Diluted earnings per share (EPS) increased by 22% to $2.46 for the nine months.
- 5The company opened 82 net new stores in the first nine months of fiscal year 2012.
- 6Ross Stores repurchased approximately $334.4 million of common stock and paid $94.6 million in dividends during the nine-month period.
- 7The company maintains a strong liquidity position with $623.8 million in cash and cash equivalents and an undrawn $600 million revolving credit facility.