On this page of StockholderLetter.com we present the latest annual shareholder letter from ROSS STORES, INC. — ticker symbol ROST. Reading current and past ROST letters to shareholders can bring important insights into the investment thesis.

 •  4/7/2025 Letter Continued (Full PDF)
 •  4/3/2023 ROST Stockholder Letter
 •  4/8/2024 ROST Stockholder Letter
 •  More "Apparel Stores" Category Stockholder Letters
 •  ROST Benford's Law Stock Score = 15

ROST Shareholder/Stockholder Letter Transcript:

More Brands,
More Bargains
Ross Stores, Inc.
2024 Annual Report



More Brands, More Bargains We launched our off-price business over
four decades ago based on the premise that everyone always loves a bargain.
Since then, we have responded to customers    wants and needs by consistently
delivering outstanding values on a wide array of quality name brand fashions
for the family and the home in convenient and easy-to-shop stores.
We accomplish this today through our two off-price apparel and home
fashion chains, Ross Dress for Less   (   Ross   ) and dd   s DISCOUNTS   (   dd   s   ).
The first Ross Dress for Less locations opened in 1982. Today, Ross is the
largest off-price apparel and home fashion chain in the U.S. with 1,831 stores in
43 states, the District of Columbia, and Guam. We launched dd   s DISCOUNTS
in 2004, and it now operates 355 locations in 22 states.
Ross offers name brand apparel, accessories, footwear, and home fashions
for the entire family at savings of 20% to 60% off department store and
specialty store regular prices every day. dd   s DISCOUNTS features more
moderately-priced assortments at savings of 20% to 70% off moderate
department and discount store prices every day. With the continued careful
execution of our off-price strategies, and a consistent focus on offering quality
branded bargains, we remain confident in our prospects for market share
gains over the long term.
2024 Annual Report 1

To Our
Shareholders
We are pleased to report solid growth in both sales
and earnings in fiscal 2024 as customers responded
positively to the improved assortments of quality,
branded bargains throughout our stores.
77
Net New Stores in 2024
2 Ross Stores, Inc.
Financial Results Total sales for the 52 weeks
ended February 1, 2025 were $21.1 billion, up from
$20.4 billion for the 53 weeks ended February 3, 2024.
Comparable sales for fiscal 2024 rose 3% versus a
strong 5% gain for the 52 weeks ended January 27,
2024. Fiscal 2024 earnings per share grew to $6.32
on net income of $2.1 billion, up from $5.56 per share
on net income of $1.9 billion in fiscal 2023. Our fiscal
2024 earnings included a one-time benefit of $0.14
per share related to the sale of a packaway facility.
As a reminder, the 53rd week in fiscal 2023 added
$308 million to sales and $0.20 to earnings per share.



 4/7/2025 Letter Continued (Full PDF)