Earnings per share reached $2.66 for the thirteen-week period ended August 1, 2026, significantly exceeding the company's initial guidance of $1.85 to $1.93. While the results were buoyed by a $0.60 per share benefit from IEEPA tariff refunds, CEO Jim Conroy noted that core performance was driven by a steady influx of new customers and increased engagement from existing shoppers. Operating margins expanded by 205 basis points even when excluding the one-time tariff windfall.
In section Releases
Ross Stores Posts Strong Q2 Gains, Raises Full-Year Outlook
Ross Stores reported a 13% jump in quarterly sales to $6.3 billion, fueled by a 10% rise in comparable store traffic. The Dublin-based retailer, bolstered by $253 million in tariff refunds, outperformed its own financial targets and is now accelerating its store expansion plans to 115 new locations for 2026.
Following the strong first half, which saw total sales grow 17% to $12.3 billion, the company is raising its fiscal 2026 earnings projections to a range of $8.61 to $8.77 per share. Management plans to lean into this momentum by opening 115 new stores—a mix of Ross Dress for Less and dd's DISCOUNTS locations—as they look to capture further market share despite anticipated tougher year-over-year comparisons in the coming months.
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