ROSS STORES Reports Second Quarter Earnings for FY2024 on August 17, 2023
August 29, 2023
🌥️Earnings Overview
On August 17 2023, ROSS STORES ($NASDAQ:ROST) released their earnings results for the second quarter of FY2024, showing a 7.7% rise in total revenue to USD 4934.9 million and a 16.1% increase in net income to USD 446.3 million compared to the same period in FY2023.
Price History
Upon the report’s release, the price of the company’s stock opened at $115.8 and closed at $113.1, representing a decline of 1.9% from its previous closing price of $115.2. The report showed that ROSS STORES had achieved positive growth in terms of both revenue and profits over the first two quarters of the fiscal year. These figures show that ROSS STORES continues to be a strong competitor in the retail marketplace, despite the current economic climate. The company’s management team has implemented a number of strategies to increase efficiency and profitability, which are paying off in terms of these impressive quarterly results.
Overall, the earnings report for ROSS STORES is positive news both for the company and its investors. As the company continues to move forward into FY 2024, we can expect more strong results like these in the quarters to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ross Stores. More…
| Total Revenues | Net Income | Net Margin |
| 19.21k | 1.61k | 8.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ross Stores. More…
| Operations | Investing | Financing |
| 2.86k | -774.18 | -1.41k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ross Stores. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 13.99k | 9.53k | 12.65 |
Key Ratios Snapshot
Some of the financial key ratios for Ross Stores are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.5% | 43.2% | 10.9% |
| FCF Margin | ROE | ROA |
| 10.9% | 30.3% | 9.3% |
Analysis
At GoodWhale, we found that ROSS STORES is a strong performer when it comes to its fundamentals. Our Star Chart shows that ROSS STORES has strong ratings in asset, dividend, and profitability, and a medium rating in growth. ROSS STORES’ health score is an impressive 9/10. This means that ROSS STORES has a healthy financial position with regard to its cashflows and debt, making it capable of easily riding out any crisis without the risk of bankruptcy. Further, our proprietary classification system designates ROSS STORES as a ‘rhino’. This type of company has achieved moderate growth in terms of revenue or earnings. It has strong fundamentals, and has the potential for further growth in the future. ROSS STORES may be an attractive investment opportunity for investors who are looking for a company that is stable and has good potential for future growth. The strong fundamentals and healthy financial position of the company make it a solid choice for such investors. More…
Peers
Though it may not seem like it at first, the retail industry is actually fiercely competitive. This is especially true for those in the discount retail sector, where companies like Ross Stores Inc. must compete with the likes of Burlington Stores Inc, Kohl’s Corp, and Chiyoda Co Ltd. In order to stay ahead, Ross Stores Inc. has to offer low prices and a good selection of merchandise.
– Burlington Stores Inc ($NYSE:BURL)
Burlington Stores Inc is an American off-price department store retailer, headquartered in Burlington, New Jersey. It was founded in 1972 and has grown to operate over 700 stores in 45 states and Puerto Rico. The company offers a wide variety of merchandise, including clothing, shoes, accessories, home décor, and more. Burlington Stores Inc has a market cap of 9.89B as of 2022. The company’s return on equity is 28.14%. Burlington Stores Inc is a publicly traded company on the New York Stock Exchange (NYSE) under the ticker symbol “BURL.”
– Kohl’s Corp ($NYSE:KSS)
Kohl’s Corp is a publicly traded company with a market cap of 3.66B as of 2022. The company has a return on equity of 16.46%. Kohl’s Corp is a retail company that operates department stores in the United States. The company was founded in 1962 and is headquartered in Menomonee Falls, Wisconsin.
– Chiyoda Co Ltd ($TSE:8185)
Chiyoda Co Ltd is a Japanese engineering company. The company has a market cap of 26.54B as of 2022 and a Return on Equity of -2.63%. The company provides engineering, procurement, and construction services for the oil, gas, chemicals, power, and other industries.
Summary
Investors can be pleased with ROSS STORES‘ second quarter of FY2024 earnings results. Total revenue rose 7.7% to USD 4934.9 million from the same period last year, while net income increased 16.1% to USD 446.3 million. This demonstrates strong momentum for the company, as well as potential for further growth in the coming quarters. As a result, ROSS STORES may be an attractive option for those looking to invest in a profitable retail chain.
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