Ross Stores (ROST) 10-K Summary — Year Ended Jan 31, 2026

Ross Stores operates off-price retail chains in the U.S. and its territories. For the latest fiscal year, revenue grew while operating cash flow increased, though net cash decreased due to investing and financing activities.

Ross Stores operates two off-price retail brands: Ross Dress for Less and dd's DISCOUNTS, offering branded apparel, accessories, and home merchandise at discounted prices. All stores are located in the United States and its territories. The company's business is subject to macroeconomic and retail industry risks, including inflation, tariffs, and supply chain disruptions.

Revenue increased compared to the prior year, while operating income and net income also showed positive results. Operating cash flow rose, reflecting higher net earnings adjusted for non-cash items, partially offset by incentive bonus payments. Net cash decreased overall due to cash used in investing and financing activities.

The company faces risks from changes in the macroeconomic environment, including inflation, tariff increases, and potential supply chain disruptions, which could reduce demand, increase costs, and negatively affect sales and margins. Geopolitical conflicts, bank failures, and public health crises are also identified as potential adverse factors. All stores are concentrated in the U.S., exposing the company to domestic economic conditions.

Primary sources of liquidity are cash from operations and short-term trade credit. Cash is used for merchandise purchases, payroll, operating costs, capital expenditures, stock repurchases, debt repayment, and dividends. The company has a senior note maturity in the near term and has recently repaid other notes at maturity.

Monitor the impact of tariff changes and supply chain conditions on merchandise costs and inventory turnover in the next filing.