Summary
Ross Stores, Inc. (ROST) filed an 8-K on March 3, 2005, to disclose an expected adjustment to its lease accounting. This adjustment stems from recent clarification by the SEC regarding lease accounting practices. The company anticipates this change could potentially impact its reported earnings for fiscal year 2004 and the fourth quarter of fiscal 2004. Investors should note that this filing is primarily a notification of a potential accounting adjustment rather than a release of specific financial results. The full details of the adjustment and its precise impact on earnings are expected to be elaborated upon in the accompanying press release, which is furnished as an exhibit to this 8-K. Shareholders are advised to review this press release for a more comprehensive understanding of the financial implications.
Key Highlights
- 1Ross Stores, Inc. is filing an 8-K on March 3, 2005, to report on an accounting matter.
- 2The company expects to adjust its lease accounting based on recent SEC clarifications.
- 3This adjustment may affect reported earnings for fiscal year 2004.
- 4The fourth quarter of fiscal 2004 could also see an impact on reported earnings.
- 5A press release dated March 3, 2005, detailing this adjustment is attached as an exhibit.
- 6The filing serves as notification of a potential accounting change and its financial implications.
- 7John G. Call, Senior Vice President and CFO, signed the report.