Ross Stores, Inc.
Ross Stores, Inc. Q2 FY26 Results — Earnings Call Analysis
Q2 FY26 earnings call: what management said on revenue, margins and capex.
What the Q2 FY26 call signalled
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The short version
- Fiscal 2026 comparable store sales growth forecasted at 6% to 7%, building on a 5% gain in 2025. - Fiscal 2026 EPS guidance raised to $7.50 - $7.74, up 13% to 17% from $6.61 in prior year. - Comparable store sales projected to grow 6%-7% for full-year 2026. - Strong first quarter results with 37% EPS growth and 21% sales growth. - Long-term EPS growth target remains double-digit fueled by: - 5% unit growth, - 60%-70% productivity, - 3%-4% comp sales growth, - 2%-3% from share repurchases. - Operating margin expected to improve from 12.2% (Q1 last year) to 13.4% in Q1 2026. - Operating margin for Q2 2026 projected at 12.8%-13.0% vs.
From Ross Stores, Inc.'s Q2 FY26 earnings-call transcript · updated 29 May 2026.
Revenue & Sales Performance
- Fiscal 2026 comparable store sales growth forecasted at 6% to 7%, building on a 5% gain in 2025.
- Full-year earnings per share projected between $7.50 to $7.74, a 13% to 17% increase over prior year.
- Long-term modeling targets about 5% unit growth annually.
- New store expansion includes 110 openings planned, maintaining ~5% unit growth, with a focus on Northeast expansion.
- Customer count showing double-digit growth on a comp store basis, with increasing transactions driving comps.
2 more points from Ross Stores, Inc.'s call on revenue
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Profitability & Margins
Read what Ross Stores, Inc. said on margins in the Q2 FY26 call
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Capital Expenditure Plans
- Total estimated capital expenditure (CapEx) for the year is about $1.1 billion, up from $819 million last year (Page 11).
- CapEx is not heavily skewed by quarter; spending is fairly consistent throughout the year (Page 11).
- Focus on store refresh initiatives paused temporarily after updating half of stores last year to measure sales impact and plan next steps (Page 12).
- Exploration of potential new store prototypes and possible changes in visual merchandising and store labor models underway (Pages 11-12).
- New store growth targets about 5% unit growth long-term, with successful expansion into Northeast markets like New York (Pages 7, 10).
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Order Book & Pipeline
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Frequently Asked Questions
What were Ross Stores, Inc. Q2 FY26 results?
- Fiscal 2026 comparable store sales growth forecasted at 6% to 7%, building on a 5% gain in 2025. - Fiscal 2026 EPS guidance raised to $7.50 - $7.74, up 13% to 17% from $6.61 in prior year. - Comparable store sales projected to grow 6%-7% for full-year 2026. - Strong first quarter results with 37% EPS growth and 21% sales growth. - Long-term EPS growth target remains double-digit fueled by: - 5% unit growth, - 60%-70% productivity, - 3%-4% comp sales growth, - 2%-3% from share repurchases. - Operating margin expected to improve from 12.2% (Q1 last year) to 13.4% in Q1 2026. - Operating margin for Q2 2026 projected at 12.8%-13.0% vs.
What is Ross Stores, Inc. share price analysis?
Ross Stores, Inc. currently shows a below-average growth signal. The stock trades at a P/E of 32.8 with a market cap of $73,192. Investors should review the full earnings analysis for detailed insights.
Is Ross Stores, Inc. planning capital expenditure?
- Total estimated capital expenditure (CapEx) for the year is about $1.1 billion, up from $819 million last year (Page 11).
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.