Short answer
Ross Stores (ROST) filed its fiscal 2025 10-K annual report with the SEC on Apr 1, 2025. It reported revenue of $21.1B (+3.7% year over year) and net income of $2.1B.
- Top risk flagged: Cybersecurity risk oversight by Audit Committee with quarterly reports including incident response and recovery protocols
FY2025 key financial metrics · XBRL
- Revenue
- $21.1B
- +3.7% YoY
- Net income
- $2.1B
- +11.5% YoY
- Operating margin
- 12.2%
- +0.9 pp YoY
- EPS (diluted)
- $6.32
- +13.7% YoY
- ROE
- 37.9%
- −0.5 pp YoY
- Operating cash flow
- $2.4B
- −6.3% YoY
Source: XBRL data from the Ross Stores (ROST) FY2025 10-K on SEC EDGAR. USD.
Ross Stores FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Off-price apparel and home fashion retail with 2,186 stores in 39 states/territories as of Feb 2025, up from 2,109 stores in Feb 2024
- Store expansion in FY25: Net increase of 77 stores, notable growth in Michigan (+8), Minnesota (+3), and New York (+3)
- Distribution network: 26 distribution/warehouse facilities with over 15 million sq ft ground floor area, includes new construction near completion
- Lease strategy: Majority leased stores with original lease terms 3-10 years plus multiple 5-year renewal options
- Operating footprint: Office space includes 414,000 sq ft in Dublin, CA and 572,000 sq ft in NYC; NYC buying office under 99-year ground lease
Management Discussion & Analysis
- Revenue $21.13B, up 3.7% YoY with $752.3M increase driven by 3% comparable store sales and 77 net new stores
- Operating margin 12.2% vs 11.3%; net margin 9.9% vs 9.2% led by lower COGS and SG&A as % of sales
- Best segment Ross Dress for Less: 1,831 stores (+67 YoY); worst dd’s DISCOUNTS: 355 stores (+10 YoY) with slower store growth
- Cash from operations $2.36B vs $2.51B; capex $720M vs $763M; share repurchases $1.05B vs $950M; dividends $489M vs $455M
- Management expects ~90 new stores in 2025; projects higher operating costs and sales deleverage; risks from inflation, interest rates, weather, geopolitical events
Risk Factors
- Cybersecurity risk oversight by Audit Committee with quarterly reports including incident response and recovery protocols
- CIO and CISO lead cybersecurity risk mitigation with expertise in retail and decades of experience
- Cybersecurity program subject to internal and third-party audits with results reported to Audit Committee
Generated from the filing text; verify against the original. How to read a 10-K
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