Ross Stores Earned $1.04 per Share for Q4

Ross Stores (ROST) reported Q4 earnings of $1.04 per share. This compares with $1.28 per share for the same quarter one year earlier.

Sales for Q4 were $5.0 billion, with comparable store sales up 9% versus the same period in 2019.

For the whole year, Ross made $4.87 per share up from $4.60 in 2019. Total sales for 2021 grew 18% to $18.9 billion, up from $16.0 billion in fiscal 2019, with comparable store sales up 13%.

Barbara Rentler, Chief Executive Officer, commented, “We achieved strong sales results in the fourth quarter despite the negative impact from both the surge in Omicron cases during the peak holiday selling period and continued supply chain congestion.”

She continued, “Fourth quarter operating margin of 9.8% was down from 13.3% in 2019 mainly due to ongoing headwinds from higher freight, wages, and COVID-related costs.”

Ross also raised its dividend by 9% to 31 cents per share. The company approved a two-year buyback program to repurchase up to $1.9 billion of common stock through fiscal 2023.

For this year, Ross projects earnings of $4.71 to $5.12 per share. For Q1, they see earnings of 93 cents to 99 cents per share.

Posted by on March 1st, 2022 at 4:08 pm


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