Ross shares set to open more than 8% higher on earnings beat, raised outlook

Retail & Consumer Retail Written by: Emily Jarvie 08:45 Fri 21 Aug 2026 --> Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The Canberra Times, and... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Ross Stores Inc ( NASDAQ:ROST ) View Price & Profile Ross shares set to open more than 8% higher on earnings beat, raised outlook Published: 08:45 21 Aug 2026 EDT Ross Stores Inc (NASDAQ:ROST) shares are set to open more than 8% higher Friday after the discount retailer reported stronger-than-expected second quarter fiscal 2026 results, supported by higher customer traffic, and raised its full-year earnings outlook. For the quarter ended August 1, Ross Stores reported sales of $6.3 billion, up 13% from $5.5 billion a year earlier. Comparable store sales increased 10%, following a 2% gain in the prior-year quarter, with the company attributing the growth primarily to customer traffic. Net income rose to $851 million, or $2.66 per share, from $508 million, or $1.56 per share, a year earlier. The result was above the company's guidance of $1.85 to $1.93 per share and included an approximately $253 million benefit from IEEPA tariff refunds, equivalent to about $0.60 per share. Operating profit increased to $1.1 billion, while operating margin expanded 610 basis points. The tariff refunds contributed 405 basis points to the increase, while operating margin excluding the benefit improved by 205 basis points, ahead of the company's previous target of 130 to 150 basis points. Ross Stores CEO Jim Conroy said in a statement that the company achieved "stellar sales and earnings growth" during the quarter, pointing to its merchandise offerings, marketing initiatives and improvements to the in-store experience. "We were pleased to see strength throughout the quarter, with comparable store sales growth once again primarily driven by customer traffic," Conroy said. He added that growth was supported by both an increase in new customers and higher engagement among existing customers. The company raised its full-year fiscal 2026 earnings-per-share outlook to $8.61 to $8.77, including the approximately $0.60 per-share tariff refund benefit recognized in the second quarter. It expects comparable store sales to increase 6% to 7% in the third quarter and 4% to 5% in the fourth quarter, with projected EPS of $1.75 to $1.83 and $2.17 to $2.26, respectively. Ross Stores also increased its 2026 store-opening plan to 115 locations, up from its previous plan. The retailer now expects to open approximately 90 Ross Dress for Less stores and 25 dd's DISCOUNTS locations. It opened 47 stores in the second quarter, including 35 Ross and 12 dd's DISCOUNTS locations. Continue reading