Ross Stores(ROST) - 2025 Q4 - Annual Results

Earnings Performance - Earnings per share for Q4 2024 were $1.79, down from $1.82 in Q4 2023, with net income of $587 million compared to $610 million last year[5] - Fiscal 2024 earnings per share increased to $6.32, up from $5.56 in fiscal 2023, with net earnings rising to $2.1 billion on sales of $21.1 billion[6] - For Q1 2025, comparable store sales are forecasted to decline by 3% to flat, with projected earnings per share between $1.33 and $1.47[10] - Fiscal 2025 earnings per share are projected to be between $5.95 and $6.55, compared to $6.32 for fiscal 2024[10] Sales and Revenue - Comparable store sales for Q4 2024 grew by 3%, following a robust 7% gain in the same period last year[5] - Ross Stores operates 1,831 locations in 43 states and 355 dd's DISCOUNTS stores, with fiscal 2024 revenues of $21.1 billion[14] Cash and Dividends - A 10% increase in the quarterly cash dividend to $0.405 per share was announced, payable on March 31, 2025[9] - The company ended fiscal 2024 with $4.7 billion in cash after funding growth and capital needs[9] - Dividends paid increased to $488,721, compared to $454,814, marking a rise of 7.5%[20] Assets and Liabilities - Total assets increased to $14,905,332, up from $14,300,109, representing a growth of 4.2% year-over-year[18] - Current liabilities rose to $4,661,825, up 11.4% from $4,185,796 year-over-year[18] - Long-term debt decreased to $1,515,080 from $2,211,017, a reduction of 31.5%[18] - Total current assets grew to $7,538,696, an increase of 1.9% compared to $7,398,138 last year[18] Cash Flow and Investments - Cash flows from operating activities totaled $2,356,988, a decrease of 6.2% from $2,514,490 in the previous year[20] - Net cash used in investing activities was $637,462, down from $762,812, indicating a decrease of 16.4%[20] - The company ended the period with cash and cash equivalents of $4,730,744, a slight decrease from $4,872,446[20] Inventory and Operating Margin - Merchandise inventory increased to $2,444,513, reflecting a rise of 11.5% from $2,192,220[18] - The fourth quarter operating margin was 12.4%, flat compared to the previous year, with a one-time benefit of approximately $0.14 per share from the sale of a packaway facility[7][8] Share Repurchase - The company repurchased 1.7 million shares for $262 million in Q4 2024, totaling 7.3 million shares repurchased for $1.05 billion in fiscal 2024[8]