Stock Analysis on Net
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Stock Analysis on Net

Ross Stores Inc. (NASDAQ:ROST)

This company has been moved to the archive! The financial data has not been updated since December 7, 2022.

Income Statement 
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Ross Stores Inc., consolidated income statement (quarterly data)

US$ in thousands

Microsoft Excel
3 months ended: Oct 29, 2022 Jul 30, 2022 Apr 30, 2022 Jan 29, 2022 Oct 30, 2021 Jul 31, 2021 May 1, 2021 Jan 30, 2021 Oct 31, 2020 Aug 1, 2020 May 2, 2020 Feb 1, 2020 Nov 2, 2019 Aug 3, 2019 May 4, 2019 Feb 2, 2019 Nov 3, 2018 Aug 4, 2018 May 5, 2018 Feb 3, 2018 Oct 28, 2017 Jul 29, 2017 Apr 29, 2017 Jan 28, 2017 Oct 29, 2016 Jul 30, 2016 Apr 30, 2016
Sales 4,565,489 4,583,009 4,333,100 5,020,649 4,574,541 4,804,974 4,516,080 4,249,671 3,754,509 2,684,712 1,842,673 4,413,445 3,849,117 3,979,869 3,796,642 4,107,388 3,549,608 3,737,926 3,588,619 4,067,806 3,328,894 3,431,603 3,306,429 3,510,158 3,086,687 3,180,917 3,088,995
Cost of goods sold (3,424,046) (3,399,535) (3,196,446) (3,773,636) (3,326,004) (3,410,871) (3,198,396) (3,157,044) (2,711,419) (2,080,120) (1,889,991) (3,224,237) (2,766,432) (2,843,850) (2,701,668) (2,989,744) (2,547,331) (2,666,983) (2,522,219) (2,922,582) (2,369,148) (2,420,942) (2,329,966) (2,539,563) (2,206,092) (2,251,845) (2,176,205)
Gross profit (loss) 1,141,443 1,183,474 1,136,654 1,247,013 1,248,537 1,394,103 1,317,684 1,092,627 1,043,090 604,592 (47,318) 1,189,208 1,082,685 1,136,019 1,094,974 1,117,644 1,002,277 1,070,943 1,066,400 1,145,224 959,746 1,010,661 976,463 970,595 880,595 929,072 912,790
Selling, general and administrative (693,367) (667,063) (669,496) (755,867) (725,761) (717,788) (675,053) (690,624) (877,857) (519,495) (415,305) (601,879) (604,605) (591,970) (558,250) (575,969) (561,577) (554,581) (524,423) (553,306) (517,297) (498,276) (474,819) (493,802) (490,171) (469,511) (436,924)
Operating earnings (loss) 448,076 516,411 467,158 491,146 522,776 676,315 642,631 402,003 165,233 85,097 (462,623) 587,329 478,080 544,049 536,724 541,675 440,700 516,362 541,977 591,918 442,449 512,385 501,644 476,793 390,424 459,561 475,866
Interest income (expense), net 2,802 (10,667) (17,696) (17,828) (18,744) (18,707) (19,049) (19,152) (28,740) (28,855) (6,666) 3,287 4,402 4,782 5,635 5,313 2,953 1,393 503 (386) (1,780) (2,341) (3,169) (3,755) (4,156) (4,213) (4,364)
Earnings (loss) before taxes 450,878 505,744 449,462 473,318 504,032 657,608 623,582 382,851 136,493 56,242 (469,289) 590,616 482,482 548,831 542,359 546,988 443,653 517,755 542,480 591,532 440,669 510,044 498,475 473,038 386,268 455,348 471,502
(Provision) benefit for taxes on earnings (loss) (108,842) (121,227) (111,017) (106,496) (119,002) (163,350) (147,103) (144,871) (5,296) (34,195) 163,447 (134,483) (111,550) (136,110) (121,217) (105,295) (105,545) (128,351) (124,228) (140,785) (166,220) (193,505) (177,457) (172,470) (141,722) (173,442) (180,868)
Net earnings (loss) 342,036 384,517 338,445 366,822 385,030 494,258 476,479 237,980 131,197 22,047 (305,842) 456,133 370,932 412,721 421,142 441,693 338,108 389,404 418,252 450,747 274,449 316,539 321,018 300,568 244,546 281,906 290,634

Based on: 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29), 10-K (reporting date: 2017-01-28), 10-Q (reporting date: 2016-10-29), 10-Q (reporting date: 2016-07-30), 10-Q (reporting date: 2016-04-30).

Sales
Sales exhibit a generally increasing trend over the period, from approximately 3.09 billion US dollars in the first quarter of 2016 to a peak of around 5.02 billion US dollars in early 2022. Notably, sales experienced a significant drop in the second quarter of 2020, coinciding with broader economic disruptions, but recovered sharply in subsequent quarters.
Cost of Goods Sold (COGS)
Cost of goods sold mostly follows the pattern of sales, increasing from roughly 2.18 billion to over 3.42 billion US dollars by late 2022. Similar to sales, COGS dipped markedly in the second quarter of 2020 but rose again steadily afterward. The proportional relationship between sales and COGS remains consistent, suggesting stable cost control relative to revenue.
Gross Profit
Gross profit generally increased over the time frame, rising from about 913 million US dollars in early 2016 to over 1.14 billion US dollars by late 2022. However, there was a pronounced negative gross profit figure in the second quarter of 2020, reflecting the impact of higher costs relative to sales during that period. Post-2020, gross profit rebounded strongly, aligning with sales recovery.
Selling, General and Administrative Expenses (SG&A)
SG&A expenses showed a gradual increase from approximately 437 million US dollars in early 2016 to nearly 755 million by late 2021, then slightly decreased towards late 2022. A sharp decline in SG&A expenses occurred during Q2 2020, potentially related to cost-cutting measures amid the downturn. There was a notable spike in SG&A expenses during Q3 2020 as operations normalized.
Operating Earnings
Operating earnings fluctuated throughout the period, generally increasing from around 476 million US dollars to approximately 518 million by late 2022. A significant operating loss was recorded in Q2 2020, reflecting the pandemic's impact. Recovery was evident in the subsequent quarters, with earnings surpassing pre-pandemic levels by early 2021, followed by some volatility thereafter.
Interest Income (Expense), Net
Net interest expense decreased over the observed period, moving from modest negative values to small positive income in some quarters. However, Q2 and Q3 2020 featured increased net interest expenses, possibly linked to stress on financial operations during that time. The trend stabilizes towards the end of the dataset.
Earnings Before Taxes (EBT)
EBT mirrored the pattern of operating earnings with growth from about 471 million US dollars to roughly 506 million US dollars by late 2022. A significant loss occurred in Q2 2020, consistent with operating losses, followed by recovery and growth. Fluctuations are evident but the overall tendency post-2020 is positive.
Provision for Taxes on Earnings
The tax provision generally corresponds with earnings before tax, increasing in absolute terms alongside higher profits. The dataset includes some quarters with a tax benefit, particularly in Q2 2020, reflecting the pre-tax losses during that period. In other quarters, tax provisions increased in line with rising earnings.
Net Earnings
Net earnings increased from approximately 291 million US dollars in early 2016 to a peak of about 494 million in mid-2021. A substantial net loss of approximately 306 million occurred in Q2 2020, clearly linked to the operating and gross profit losses earlier noted. Following this, net earnings improved steadily but did not consistently surpass prior peak levels by late 2022. The overall pattern highlights resilience with temporary severe disruptions.