Ross Stores Inc.


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SKU: ROST Category:


Ross Stores delivered another solid quarterly result with excellent recovery in revenues driven by the robust customer demand, accelerated vaccination rates, government stimulus payments and easing of COVID-19 restrictions. The company’s top-line grew by a staggering 20.7% as compared to 2020 when a large number of its outlets were shut because of the pandemic-driven lockdown. Growth continues to be broad-based across all merchandise categories and regions with the children’s category and Midwest region being outperformers. However, inflation might play spoiltsport on the company’s recovery as it is already witnessing a rise in distribution expenses, freight, and wage costs. The company intends to add 45 Ross Dress for Less and 20 dd’s DISCOUNTS stores while shutting down or relocating 10 underperforming outlets. With possible inflationary pressure building on the company’s margins, we maintain a ‘Hold’ rating with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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