Here are 1-2 brief analogies for Ross Stores (ROST):

• Macy's for bargain hunters.
• Kohl's for deep-discount brand-name finds.

• Apparel: A wide selection of clothing for women, men, and children.
• Footwear: A variety of shoes and boots for all ages.
• Accessories: Handbags, jewelry, scarves, and other fashion add-ons.
• Home Fashions: Decorative and functional items for the home, including bedding, bath, kitchenware, and small appliances.

Ross Stores (symbol: ROST) sells primarily to individual consumers.

The company operates as an off-price retailer, serving customers through its Ross Dress for Less and dd's DISCOUNTS stores. Its major customer categories can be described as:

1. Value-Oriented Shoppers / Bargain Hunters: These customers are highly price-sensitive and are actively seeking significant discounts on brand-name apparel, accessories, footwear, and home goods. They are looking for the best possible deal and view shopping at Ross as a way to stretch their budget without compromising on quality or style.

2. Middle-to-Lower Income Households: A significant portion of Ross's customer base comes from middle-to-lower income households who rely on off-price retailers to affordably purchase essential clothing, footwear, and home furnishings for themselves and their families. They appreciate the everyday low prices and the consistent availability of value.

3. "Treasure Hunt" Shoppers: Many customers enjoy the unpredictable and exciting aspect of shopping at Ross. They visit frequently, often without a specific item in mind, to "hunt" for unique finds, new arrivals, and unexpected bargains. This group values the ever-changing inventory and the thrill of discovering high-quality items at heavily discounted prices before they are gone.

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James G. Conroy, Chief Executive Officer

Mr. Conroy was appointed Chief Executive Officer of Ross Stores, Inc. effective February 2, 2025. He joined the company in December 2024 as CEO-Elect. Prior to Ross Stores, he served as President and Chief Executive Officer of Boot Barn Holdings, Inc. from 2012 to November 2024, where he led the company's transformation from a regional retailer to a national lifestyle brand and oversaw its initial public offering in 2014. Before Boot Barn, Mr. Conroy held various executive roles at Claire's Stores, Inc. from 2007 to 2012, including Chief Operating Officer and Interim Co-Chief Executive Officer. Claire's Stores, Inc. was acquired by the private equity firm Apollo Management VI, L.P. in 2007, shortly after Mr. Conroy joined the company.

William Sheehan, Executive Vice President and Chief Financial Officer

Mr. Sheehan is expected to succeed Adam Orvos as Executive Vice President and Chief Financial Officer of Ross Stores, Inc. on October 1, 2025, having been promoted to Deputy CFO in February 2025. He joined Ross Stores in February 2006 as Vice President, Corporate Controller, and has since held roles of increasing responsibility within the finance organization, including Group Vice President, Finance and Treasurer, and Senior Vice President, Finance. Prior to his tenure at Ross, Mr. Sheehan spent 15 years at Lord & Taylor, where he held the title of VP Controller and VP Information Technology from August 2000 to January 2006. During his time at Lord & Taylor, the company was acquired by Federated Department Stores (now Macy's Inc.) in 2005.

Michael J. Hartshorn, Group President and Chief Operating Officer

Mr. Hartshorn has served as Group President and Chief Operating Officer of Ross Stores, Inc. since 2019 and has been a member of the Board of Directors since 2021. He previously held several financial leadership positions at Ross, including Group Executive Vice President, Finance and Legal, Chief Financial Officer (2019), Executive Vice President and Chief Financial Officer (2018-2019), Group Senior Vice President, Chief Financial Officer (2015-2018), Senior Vice President and Chief Financial Officer (2014-2015), and Senior Vice President and Deputy Chief Financial Officer (2012-2014). Mr. Hartshorn initially joined Ross in 2000 as Director and Assistant Controller. Before joining Ross, he spent seven years in various financial roles at The May Department Stores Company. During Mr. Hartshorn's tenure (approximately 1993-2000), The May Department Stores Company acquired several retail chains, including John Wanamaker (1995), Strawbridge's (1996), The Jones Store (1998), Zions Cooperative Mercantile Institution (1999), and David's Bridal (2000).

Karen Fleming, President and Chief Merchandising Officer, Ross Dress for Less

Ms. Fleming has served as President and Chief Merchandising Officer for Ross Dress for Less since 2024. Earlier in 2024, she held a similar role at dd's DISCOUNTS. Her career at Ross Stores began in 1999, and she has held various merchandising leadership roles at both Ross Dress for Less and dd's DISCOUNTS. These roles include Group Executive Vice President of Merchandising at dd's DISCOUNTS (2023), Executive Vice President of Merchandising at dd's DISCOUNTS (2022), Group Senior Vice President of Merchandising (2018-2022), and Senior Vice President of Merchandising (2015-2018).

Karen Sykes, President and Chief Merchandising Officer, dd's DISCOUNTS

Ms. Sykes has served as President and Chief Merchandising Officer for dd's DISCOUNTS since 2024. She joined Ross Stores in 1992 and has held various merchandising positions within the organization. Prior to her current role, she served as Executive Vice President of Men's and Children's Merchandising at Ross Dress for Less. Her previous positions also include Executive Vice President of Merchandising at Ross Dress for Less (since 2022), Group Senior Vice President of Merchandising (2018-2022), and Senior Vice President of Merchandising (2010-2018).

Ross Stores, Inc. primarily operates as an off-price retailer in the United States, offering a range of products including apparel, accessories, footwear, and home fashions through its "Ross Dress for Less" and "dd's DISCOUNTS" banners.

The addressable markets for Ross Stores' main products and services in the U.S. are substantial:

• Off-Price Retail Market (U.S. Share of North America): The global off-price retail market was estimated at USD 372.46 billion in 2025 and is expected to reach USD 668.30 billion by 2032, with North America (particularly the U.S.) accounting for an estimated 39.3% market share in 2025. Another source valued the off-price retail market at USD 347.5 billion in 2024 and projects it to surpass USD 566.9 billion by 2030, with North America holding the largest share. Additionally, the global off-price retail market was valued at USD 322.4 billion in 2024 and is projected to reach USD 687.7 billion by 2032, growing at a CAGR of 9.92% during 2026-2032, with North America contributing significantly.
• Apparel Market (U.S.): The U.S. apparel market was valued at approximately USD 353.20 billion in 2024 and is projected to reach nearly USD 447.73 billion by 2034, growing at a CAGR of 2.40% during 2025-2034. Other estimates indicate the U.S. apparel market size was valued at $564.2 billion in 2023, with a projected CAGR of over 3% from 2023-2028.
• Footwear Market (U.S.): The United States footwear market reached approximately USD 97.72 billion in 2024 and is estimated to grow at a CAGR of 3.80% in the forecast period of 2025-2034, reaching a value of around USD 141.89 billion by 2034. Another report indicates the U.S. footwear market generated a revenue of USD 91,255.0 million in 2023 and is expected to reach USD 117,375.3 million by 2030, with a CAGR of 3.7% from 2024 to 2030.
• Fashion Accessories Market (U.S.): The U.S. fashion accessories market was valued at USD 222,074.1 million in 2024 and is expected to reach USD 342,988.5 million by 2030, with a CAGR of 7.8% from 2025 to 2030. Another source projects the U.S. fashion accessories market to reach USD 477.4 billion by 2034, up from USD 223.2 billion in 2024, growing at a CAGR of 7.9% from 2025 to 2034.
• Home Textiles Market (U.S.): The United States home textile market, valued at USD 29.62 billion in 2024, is forecasted to achieve USD 51.46 billion by 2033, growing at a CAGR of 6.34% during the period 2025–2033. Another report states that the U.S. home textile market size is projected to reach a valuation of USD 44,308.2 million in 2024 and USD 70,658.6 million by 2033, recording a CAGR of 5.2% from 2024 to 2033.

Ross Stores (ROST) is anticipated to drive future revenue growth over the next 2-3 years through several key strategies and market dynamics:

1. Continued Store Expansion: Ross Stores consistently emphasizes its commitment to expanding its physical footprint. In fiscal 2025, the company completed its expansion plans by opening 40 new stores, comprising 36 Ross Dress for Less and four dd's DISCOUNTS locations across 17 states. This brought the total store count to 2,273. Management has long-term targets to operate at least 2,900 Ross Dress for Less stores and 700 dd's DISCOUNTS stores, indicating a sustained focus on increasing its market presence and reaching more customers.
2. Comparable Store Sales Growth: A crucial driver for Ross Stores is increasing sales at its existing locations. The company has guided for comparable store sales growth of 2% to 3% for both the third and fourth quarters of fiscal 2025. This growth is expected to be fueled by improved sales trends, with positive performance seen in areas like cosmetics and ladies' apparel.
3. Enhanced Value Proposition and Merchandise Assortment: Ross Stores aims to attract and retain customers by continually refining its brand strategy and merchandise mix to offer compelling value. The company's unique off-price buying approach allows it to offer goods at significantly lower prices than department stores, appealing to value-conscious shoppers. The dd's DISCOUNTS brand, in particular, has demonstrated strong momentum and solid sales, reflecting its effective value and fashion offerings.
4. Resilience of the Off-Price Business Model in Current Macroeconomic Conditions: The off-price retail model is strategically positioned to perform well in an environment where consumers are more focused on value due to macroeconomic uncertainties, such as prolonged inflation and high costs. This drives increased traffic from bargain-hunting customers, giving Ross Stores a favorable position to accelerate sales compared to competitors.

Share Repurchases

• Ross Stores' Board of Directors approved a new two-year, $2.1 billion stock repurchase authorization for fiscal years 2024 and 2025 in March 2024.
• In fiscal 2023, the company repurchased 8.2 million shares for an aggregate price of $950 million, completing a prior two-year stock repurchase program.
• For fiscal 2025, the company is on track to repurchase a total of $1.05 billion in common stock, with $263 million and $262 million repurchased in the first and second quarters, respectively.

Share Issuance

• For the six months ended August 2, 2025, Ross Stores issued common stock totaling $6.137 million under employee stock plans, net of shares used for tax withholding.

Capital Expenditures

• Ross Stores' capital expenditures are primarily focused on opening new stores, improving existing stores, and investing in distribution centers and information technology systems.
• For fiscal 2025, planned capital expenditures are increasing compared to fiscal 2024, driven by investments in new distribution centers, store improvements, and IT systems.
• The company aims to open approximately 90 new stores in fiscal 2025, consisting of 80 Ross Dress for Less and 10 dd's DISCOUNTS locations, as part of its long-term strategy to reach at least 2,900 Ross and 700 dd's stores.