Ross Stores (ROST) Earnings Date & Reports

Key Takeaways

• Ross Stores, Inc. (Nasdaq: ROST) is scheduled to report second quarter fiscal 2026 results on Thursday, August 20, 2026, after the market close, covering the 13 weeks ended August 1, 2026.
• Management guided second-quarter earnings per share (EPS) to $1.85 to $1.93, with comparable store sales (comps) up 6% to 7% and total sales up 9% to 11%.
• Wall Street consensus, as of mid-August 2026, stands near $1.92 in EPS and $6.1 billion in revenue, implying double-digit growth from the prior-year quarter's $1.56 EPS and $5.53 billion in sales.
• Ross Stores enters this report after an exceptionally strong first quarter: sales rose 21% to $6.0 billion, comps climbed 17%, and EPS reached $2.02, beating consensus by roughly 19%.
• Key watch items include merchandise margins, traffic trends, freight and fuel costs, tariff-related expenses, and any update to the company's raised full-year EPS outlook of $7.50 to $7.74.

Earnings Context and Why It Matters

Ross Stores enters its second-quarter fiscal 2026 report after one of the strongest quarters in company history. In the first quarter, sales rose 21% and comparable store sales jumped 17%, sending shares to record highs. The upcoming report will show whether that momentum extended through the May-to-July period and whether the company's raised full-year guidance remains intact. For investors, ROST offers a useful read on off-price retail demand, the availability of closeout merchandise, and how value-focused chains are managing tariff-related costs and elevated freight and fuel expenses.

Earnings Expectations

Ross Stores confirmed it will release second-quarter fiscal 2026 results on August 20, 2026, at approximately 4:00 p.m. Eastern time, with a conference call at 4:15 p.m. Eastern time.

On its first-quarter earnings call, management guided second-quarter EPS to $1.85 to $1.93, representing growth of 19% to 24% compared with $1.56 in the prior-year period. The company also forecast comparable store sales growth of 6% to 7%, total sales growth of 9% to 11%, and an operating margin of 12.8% to 13.0%, up from 11.5% a year earlier.

Analyst expectations sit at the high end of that range. According to the Zacks Consensus Estimate, analysts expect EPS of approximately $1.92 and revenue of roughly $6.1 billion, which would represent an increase of about 23% and 11%, respectively, from the prior-year quarter. Ross Stores has beaten consensus EPS estimates in each of its last four reported quarters, with an average trailing surprise of about 10.2%.

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Market Reaction and Investor Sentiment

Sentiment heading into the report is generally constructive but sets a high bar. ROST shares gained about 27% over the past six months, outperforming the discount retail industry, and the stock currently trades near a forward price-to-earnings (P/E) ratio of roughly 30.5 times, slightly below the industry average. After the first-quarter release, the stock rose more than 8% in a single session as results significantly exceeded guidance.

The risk is that second-quarter growth, while still strong on a year-over-year basis, may appear less dramatic than the first quarter's outsized surge, which was aided by tax refunds and an Easter calendar shift. Investors will also watch whether higher fuel prices, tariff-related costs, and incentive-driven expense growth pressure operating margins relative to expectations.

Forward Outlook and Key Factors to Monitor

The central question after this report will be whether comparable store sales growth in the 6% to 7% range can be sustained without the temporary tailwinds that boosted the first quarter. Traffic has been the primary driver of recent comp growth, with management citing double-digit customer-count increases on a comp-store basis. Investors should listen for whether transaction trends and customer acquisition remain healthy across Ross Dress for Less and dd's DISCOUNTS.

Margin execution will also matter. Management expects merchandise margin improvement and lower distribution costs in the second quarter, but elevated fuel prices and freight costs are a known pressure point. Any changes to tariff assumptions, or progress on the tariff refund claims the company has excluded from guidance, could influence the full-year outlook.

Finally, investors should watch for updates to the fiscal 2026 framework. Ross Stores raised its full-year EPS guidance to $7.50 to $7.74 and still plans about 110 new stores and $1.275 billion in share repurchases. Confirmation or adjustment of those targets will likely shape how the market interprets the quarter.

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