Analyst Consensus ?
ConsensusBuy47 ratings
Bullish3063.8%
Neutral1327.7%
Bearish48.5%
Ross Stores, Inc. · ROST · FY2026 Q1 · Calendar Q2 2026
Ross Stores Q1 FY2026: Record 17% Comp Sales, EPS Beat and Raised Guidance
Ross Stores delivered its strongest quarter in 40 years, with comparable store sales surging 17% on transaction volume growth across all demographic groups. The company raised full-year FY2026 guidance to sales growth of 6-7% and EPS of $7.50-$7.74, reflecting confidence that marketing-driven customer acquisition and inventory mix improvements can sustain momentum. Operating margin expanded 120 bps to 13.4%, and management announced a new Arizona distribution center to further reduce freight costs. The stock reacted strongly (+8.1%) but drifted -2.5% subsequently, suggesting the market questions whether this comp rate is sustainable. Ross delivered its strongest comp in 40 years, with broad-based customer acquisition across all demographic segments. Both EPS ($2.02 vs. $1.73) and revenue ($6.01B vs. $5.64B) beat consensus meaningfully, and management raised full-year guidance. The…
Reported After market closeNASDAQConsumer Cyclical
$80.53B market cap
100quality score
Company context
Snapshot as of publicationRoss Stores, Inc., through its various subsidiaries, manages a chain of off-price retail establishments focusing on apparel and home goods. These stores operate under two main brand names: Ross Dress for Less and dd's DISCOUNTS. Their product selection primarily includes clothing, accessories, footwear, and household decor. The Ross Dress for Less outlets primarily serve middle-income households, offering merchandise at prices considerably lower than traditional department and specialty stores. Conversely, dd's DISCOUNTS stores cater to moderate-income households, providing products at prices below those typically found in department and discount stores. As of July 5, 2022, the company had approximately 1,950 stores operating across 40 states, the District of Columbia, and Guam. Ross Stores, Inc. was founded in 1957 and is based in Dublin, California.
Earnings scorecard
Reported versus consensus
Reported EPS
$2.02
Consensus $2
EPS surprise
+16.8%
Reported versus consensus
Reported revenue
$6.01B
Consensus $5.64B
Revenue surprise
+6.5%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$251.03Previous close
$106Low
$182.54Average
$290High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Jul 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Equal Weight | Overweight | Downgrade | Jun 23, 2026 |
| Barclays | Overweight | Overweight | Maintain | May 26, 2026 |
| UBS | Neutral | Neutral | Maintain | May 22, 2026 |
| Truist Securities | Buy | Buy | Maintain | May 22, 2026 |
| Telsey Advisory Group | Outperform | Outperform | Maintain | May 22, 2026 |
| Citigroup | Buy | Buy | Maintain | May 22, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | May 18, 2026 |
| Guggenheim | Buy | Buy | Maintain | Mar 4, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Mar 4, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Mar 4, 2026 |
| Bernstein | Market Perform | Market Perform | Maintain | Nov 21, 2025 |
| Baird | Outperform | Outperform | Maintain | Nov 21, 2025 |
| B of A Securities | Buy | Buy | Maintain | Nov 21, 2025 |
| TD Cowen | Buy | Buy | Maintain | Nov 10, 2025 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 22, 2025 |
| Jefferies | Buy | Hold | Upgrade | Jul 2, 2025 |
| Loop Capital | Buy | Buy | Maintain | May 23, 2025 |
| BMO Capital | Outperform | Outperform | Maintain | Mar 5, 2025 |
| Gordon Haskett | Buy | Accumulate | Maintain | Nov 3, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Mar 1, 2023 |
| Deutsche Bank | Buy | Buy | Maintain | Nov 18, 2022 |
| Cowen & Co. | Market Perform | Market Perform | Maintain | Feb 22, 2022 |
| RBC Capital | Outperform | Outperform | Maintain | May 21, 2021 |
| Northcoast Research | Buy | Neutral | Upgrade | May 19, 2021 |
| OTR Global | Positive | Mixed | Upgrade | May 3, 2021 |
| MKM Partners | Buy | Buy | Maintain | Aug 21, 2020 |
| Nomura Instinet | Neutral | Neutral | Maintain | May 22, 2020 |
| Nomura | Neutral | Neutral | Maintain | May 22, 2020 |
| CFRA | Buy | Buy | Maintain | May 22, 2020 |
| DA Davidson | Buy | Neutral | Upgrade | Apr 28, 2020 |
| Odeon Capital | Sell | Sell | Maintain | Jan 24, 2020 |
| Buckingham Research | Neutral | Neutral | Maintain | Aug 20, 2018 |
| Buckingham | Neutral | Neutral | Maintain | Aug 20, 2018 |
| Wedbush | Neutral | Neutral | Maintain | Jun 22, 2018 |
| Susquehanna | Outperform | Positive | Maintain | Feb 10, 2017 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Aug 19, 2016 |
| PiperJaffray | Underweight | Underweight | Maintain | May 11, 2016 |
| Piper Sandler | Underweight | Neutral | Downgrade | May 11, 2016 |
| Wolfe Research | Outperform | Outperform | Maintain | Feb 2, 2016 |
| Cantor Fitzgerald | Hold | Hold | Maintain | Aug 21, 2015 |
| Maxim Group | Hold | Sell | Upgrade | Nov 21, 2014 |
| Canaccord Genuity | Sell | Hold | Downgrade | Nov 14, 2014 |
| Sterne Agee | Neutral | Buy | Downgrade | Jul 16, 2014 |
| ISI Group | Buy | Buy | Maintain | Nov 15, 2012 |
| Bank of America | Buy | Neutral | Upgrade | Aug 20, 2012 |
| Oppenheimer | Outperform | Outperform | Maintain | Aug 16, 2012 |
| Collins Stewart | Buy | Buy | Maintain | Mar 15, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $251.03. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $260 | $234.81 | +3.6% | May 26, 2026 |
| Telsey Advisory | Dana Telsey | $265 | $231.38 | +5.6% | May 22, 2026 |
| Truist Financial | Analyst unavailable | $290 | $231.31 | +15.5% | May 22, 2026 |
| Deutsche Bank | Analyst unavailable | $257 | $232.46 | +2.4% | May 22, 2026 |
| UBS | Analyst unavailable | $232 | $230 | -7.6% | May 22, 2026 |
| Goldman Sachs | Analyst unavailable | $270 | $217.19 | +7.6% | May 22, 2026 |
| Bernstein | Aneesha Sherman | $230 | $229.8 | -8.4% | May 22, 2026 |
| Wells Fargo | Analyst unavailable | $245 | $217.19 | -2.4% | May 22, 2026 |
| UBS | Analyst unavailable | $227 | $211.75 | -9.6% | May 18, 2026 |
| Truist Financial | Joseph Civello | $270 | $212.75 | +7.6% | May 18, 2026 |
| Guggenheim | Analyst unavailable | $290 | $226.41 | +15.5% | Apr 27, 2026 |
| UBS | Jay Sole | $208 | $213.29 | -17.1% | Mar 5, 2026 |
| Bernstein | Aneesha Sherman | $200 | $209.99 | -20.3% | Mar 4, 2026 |
| Bernstein | Analyst unavailable | $180 | $201.05 | -28.3% | Feb 23, 2026 |
| UBS | Analyst unavailable | $199 | $196.59 | -20.7% | Feb 17, 2026 |
| Goldman Sachs | Analyst unavailable | $214 | $194.5 | -14.8% | Feb 10, 2026 |
| Deutsche Bank | Analyst unavailable | $221 | $189.56 | -12.0% | Jan 8, 2026 |
| UBS | Jay Sole | $181 | $186.99 | -27.9% | Jan 8, 2026 |
| Bernstein | Analyst unavailable | $170 | $187.38 | -32.3% | Jan 6, 2026 |
| Barclays | Analyst unavailable | $205 | $186.68 | -18.3% | Jan 6, 2026 |
| Robert W. Baird | Mark Altschwager | $200 | $182.4 | -20.3% | Dec 17, 2025 |
| Wells Fargo | Analyst unavailable | $200 | $184.23 | -20.3% | Dec 16, 2025 |
| Guggenheim | Analyst unavailable | $199 | $177.02 | -20.7% | Dec 9, 2025 |
| UBS | Analyst unavailable | $203 | $177.89 | -19.1% | Dec 4, 2025 |
| Jefferies | Corey Tarlowe | $205 | $177.5 | -18.3% | Dec 1, 2025 |
| Robert W. Baird | Analyst unavailable | $182 | $167.5 | -27.5% | Nov 21, 2025 |
| Evercore ISI | Analyst unavailable | $195 | $167.48 | -22.3% | Nov 21, 2025 |
| UBS | Jay Sole | $169 | $160.5 | -32.7% | Nov 21, 2025 |
| Bernstein | Aneesha Sherman | $159 | $160.5 | -36.7% | Nov 21, 2025 |
| Barclays | Analyst unavailable | $183 | $160.5 | -27.1% | Nov 21, 2025 |
| UBS | Analyst unavailable | $163 | $162.02 | -35.1% | Nov 5, 2025 |
| Wells Fargo | Ike Boruchow | $180 | $156.75 | -28.3% | Oct 27, 2025 |
| Telsey Advisory | Analyst unavailable | $160 | $147.25 | -36.3% | Aug 22, 2025 |
| Robert W. Baird | Analyst unavailable | $170 | $147.25 | -32.3% | Aug 22, 2025 |
| Barclays | Analyst unavailable | $164 | $147.25 | -34.7% | Aug 22, 2025 |
| Morgan Stanley | Analyst unavailable | $130 | $138.64 | -48.2% | Mar 5, 2025 |
| Robert W. Baird | Analyst unavailable | $160 | $138.64 | -36.3% | Mar 5, 2025 |
| Barclays | Analyst unavailable | $150 | $138.64 | -40.2% | Mar 5, 2025 |
| Wells Fargo | Ike Boruchow | $165 | $151.74 | -34.3% | Jan 10, 2025 |
| Citigroup | Paul Lejuez | $179 | $154.44 | -28.7% | Sep 20, 2024 |
| Goldman Sachs | Brooke Roach | $185 | $155.21 | -26.3% | Aug 23, 2024 |
| Telsey Advisory | Dana Telsey | $175 | $157.62 | -30.3% | Aug 23, 2024 |
| Loop Capital Markets | Laura Champine | $190 | $155.48 | -24.3% | Aug 23, 2024 |
| BMO Capital | Simeon Siegel | $168 | $155.5 | -33.1% | Aug 23, 2024 |
| Wells Fargo | Ike Boruchow | $175 | $152.52 | -30.3% | Aug 23, 2024 |
| Robert W. Baird | Mark Altschwager | $180 | $155.37 | -28.3% | Aug 23, 2024 |
| UBS | Jay Sole | $167 | $152.52 | -33.5% | Aug 23, 2024 |
| CFRA | Zachary Warring | $138 | $144.03 | -45.0% | May 24, 2024 |
| Guggenheim | Robert Drbul | $170 | $131.86 | -32.3% | May 24, 2024 |
| Barclays | Adrienne Yih | $165 | $131.86 | -34.3% | May 24, 2024 |
| Deutsche Bank | Paul Trussell | $164 | $131.86 | -34.7% | May 24, 2024 |
| Evercore ISI | Michael Binetti | $165 | $131.86 | -34.3% | May 24, 2024 |
| UBS | Jay Sole | $147 | $131.86 | -41.4% | May 24, 2024 |
| BMO Capital | Simeon Siegel | $138 | $149.24 | -45.0% | Mar 5, 2024 |
| UBS | Jay Sole | $142 | $148.03 | -43.4% | Feb 23, 2024 |
| Loop Capital Markets | Simeon Siegel | $127 | $118.72 | -49.4% | Aug 18, 2023 |
| UBS | Jay Sole | $80 | $115.66 | -68.1% | Aug 17, 2023 |
| Loop Capital Markets | Analyst unavailable | $115 | $104.14 | -54.2% | Mar 22, 2023 |
| Loop Capital Markets | Simeon Siege | $113 | $108.51 | -55.0% | Mar 1, 2023 |
| Barclays | Analyst unavailable | $139 | $118.75 | -44.6% | Jan 13, 2023 |
| Wells Fargo | Analyst unavailable | $135 | $114.93 | -46.2% | Dec 20, 2022 |
| Goldman Sachs | Analyst unavailable | $134 | $115.06 | -46.6% | Dec 12, 2022 |
| Telsey Advisory | Dana Telsey | $120 | $110.07 | -52.2% | Nov 18, 2022 |
| UBS | Analyst unavailable | $108 | $113.09 | -57.0% | Nov 18, 2022 |
| Citigroup | Analyst unavailable | $116 | $111.2 | -53.8% | Nov 18, 2022 |
| Morgan Stanley | Analyst unavailable | $127 | $114.74 | -49.4% | Nov 18, 2022 |
| Wells Fargo | Analyst unavailable | $120 | $97.93 | -52.2% | Nov 18, 2022 |
| Barclays | Analyst unavailable | $98 | $91.01 | -61.0% | Aug 22, 2022 |
| Morgan Stanley | Kimberley Greenberger | $118 | $90.73 | -53.0% | Aug 19, 2022 |
| UBS | Analyst unavailable | $92 | $89.86 | -63.4% | Aug 19, 2022 |
| Robert W. Baird | Analyst unavailable | $105 | $92.5 | -58.2% | Aug 19, 2022 |
| Goldman Sachs | Brooke Roach | $102 | $82.3 | -59.4% | Aug 2, 2022 |
| Barclays | Analyst unavailable | $85 | $71.87 | -66.1% | May 23, 2022 |
| Morgan Stanley | Kimberly Greenberger | $129 | $72.13 | -48.6% | May 20, 2022 |
| Robert W. Baird | Analyst unavailable | $90 | $92.7 | -64.1% | May 20, 2022 |
| Loop Capital Markets | Analyst unavailable | $80 | $92.7 | -68.1% | May 20, 2022 |
| Telsey Advisory | Dana Telsey | $80 | $92.7 | -68.1% | May 20, 2022 |
| Morgan Stanley | Analyst unavailable | $139 | $104.08 | -44.6% | Apr 26, 2022 |
| Bernstein | Aneesha Sherman | $125 | $93.33 | -50.2% | Mar 18, 2022 |
| Deutsche Bank | Gabriella Carbone | $122 | $94.66 | -51.4% | Mar 2, 2022 |
| Robert W. Baird | Mark Altschwager | $115 | $89.23 | -54.2% | Mar 1, 2022 |
| UBS | Jay Sole | $100 | $90.32 | -60.2% | Feb 24, 2022 |
| Truist Financial | Beth Reed | $122 | $93.14 | -51.4% | Feb 18, 2022 |
| J.P. Morgan | Matthew Boss | $125 | $91.42 | -50.2% | Feb 17, 2022 |
| Deutsche Bank | Gabriella Carbone | $128 | $95.7 | -49.0% | Feb 16, 2022 |
| Gordon Haskett Capital Corporation | Charles Grom | $106 | $96.23 | -57.8% | Feb 10, 2022 |
| Jefferies | Corey Tarlowe | $131 | $108.42 | -47.8% | Nov 30, 2021 |
| Loop Capital Markets | Laura Champine | $105 | $107.48 | -58.2% | Oct 14, 2021 |
| MKM Partners | Roxanne Meyer | $153 | $121.91 | -39.1% | May 21, 2021 |
Track every rating change on ROST the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
+8.1%
Event window
SPY move
+0.4%
Same window
Abnormal move
+7.7%
Stock minus SPY
Volume
1.7×
Versus trailing sessions
Subsequent drift
-2.5%
Up to 20 sessions
ROSTSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
Comparable store sales growth accelerated sharply from 7% in Q3 FY2025 to 17% in Q1 FY2026 — the highest in the company's history. Total sales growth jumped from 10% to 21%, and operating margin expanded from 11.6% to 13.4%. EPS rose from $1.58 to $2.02. The company announced a new Arizona distribution center and shifted capex outlook to increasing. Packaway inventory improved to 36% from 41% year-over-year, versus 36% from 38% in the prior quarter, indicating a tighter merchandise mix.
Guidance delta
FY2026 guidance was raised: sales growth of 6-7% and EPS of $7.50-$7.74 (up 13-17% YoY). The prior quarter had similarly raised FY2025 EPS guidance to $6.38-$6.46 with Q4 comp of 3-4%. Capex outlook shifted from not mentioned to increasing, driven by ~110 new store openings and the new Arizona distribution center.
Key takeaways
- Q1 sales surged 21% to $6.0B and EPS rose 37% to $2.02, with comparable store sales up 17% on transaction strength — the highest in the company's 40-year history.
- Full-year fiscal 2026 guidance raised: sales growth 6-7% and EPS $7.50-$7.74, up 13-17% YoY.
- Customer count grew double-digits across all ages, ethnicities and income levels, especially among 18-24 year olds.
- Plan to open ~110 new stores in FY26 (85 Ross, 25 DD's DISCOUNTS) targeting 5% unit growth.
- Operating margin expanded 120 bps to 13.4% on lower COGS, better merchandise margin and occupancy leverage.
Management priorities
- Open 47 stores in Q2 (35 Ross, 12 DD's DISCOUNTS) and continue FY26 rollout.
- Commission the Arizona distribution center to reduce freight costs.
- Modernize marketing mix and launch new creative campaigns.
- Continue store refreshes focusing on signage, perimeter upgrades and customer experience.
- Expand branded apparel offerings beyond the ladies category.
Sources
- Earnings call transcript and parsed analysis · 2026-05-22T00:22:03.257732+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-29T10:03:10.077183+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-29T10:03:10.074919+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.