Ross Stores Raises Fiscal 2026 Earnings Forecast Following Strong Second-Quarter Performance
Ross Stores reported strong second-quarter results for fiscal 2026, with total sales rising by 13% year-over-year to $6.3 billion and comparable store sales up 10%. The company's net income surged from $508 million in the prior year to $851 million this quarter, while earnings per share reached $2.66—well above its previous guidance of $1.85–$1.93. A key driver was a one-time benefit of approximately $253 million in IEEPA tariff refunds, which contributed significantly to the operating margin increase. The retailer also opened 47 new stores during the quarter and announced plans to open an additional 115 locations by year-end as part of its expansion strategy. CEO Jim Conroy attributed the strong performance to improved merchandise offerings, marketing initiatives, and in-store experience enhancements that drove customer traffic growth from both new and existing customers. For fiscal 2026, Ross Stores now expects earnings per share between $8.61–$8.77, up sharply from earlier guidance.
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