Ross Stores Raises Profit Outlook After Strong Second Quarter

Ross Stores Inc. raised its annual profit outlook for the second time this year after reporting strong fiscal second-quarter results. The company now expects full-year earnings between $8.61 and $8.77 per share, up from previous guidance of $7.50 to $7.74.

Second-quarter earnings per share reached $2.66, exceeding the consensus estimate of $1.94, with revenue totaling $6.26 billion. These results were driven by a 10% increase in same-store sales and a tariff refund benefit of approximately $0.60 per share.

CEO Jim Conroy attributed the growth to increased customer traffic and higher spending from existing customers, as well as gains from new and lapsed shoppers. Based on this performance, the retailer expanded its store opening target for fiscal 2026 to 115 locations, adding five more stores than previously planned.