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Ross Stores raises forecast after surge in Q2 sales and store openings

Jangoulun Singsit

Mon, August 24, 2026 at 1:49 PM GMT+3 3 min read

• ROST +4.39%

The off-price retailer now projects earnings per share for fiscal 2026 in the range of $8.61 to $8.77, factoring in a $0.60 per share benefit from approximately $253m in IEEPA tariff refunds received during the quarter.

For the period ended 3 August 2026, Ross Stores posted a 13% jump in total sales to $6.3bn, with comparable store sales up 10%, primarily driven by customer traffic.

Net income climbed to $851m from $508m last year, while earnings per share reached $2.66, surpassing previous guidance of $1.85 to $1.93.

Q2 operating profits totalled $1.1bn, including the impact of the tariff refunds, which contributed approximately 405 basis points to the quarter's 610 basis point operating margin increase.

Excluding this one-off benefit, operating margin rose by 205 basis points, outpacing the company's target.

Store expansion contributed to the company's performance, with 47 new locations.

Ross Stores chief executive officer Jim Conroy said: "We achieved stellar sales and earnings growth in the second quarter. I am incredibly proud of our teams across the Company, whose dedication and strong execution drove these outstanding results.

"Our performance was fuelled by our compelling merchandise offerings, engaging marketing initiatives, and continued enhancements to the in-store experience. We were pleased to see strength throughout the quarter, with comparable store sales growth once again primarily driven by customer traffic. Importantly, that growth was supported by both an increase in new customers and higher engagement from existing customers."

In the first half of fiscal 2026, sales rose 17% to $12.3bn, compared with $10.5bn over the same period in 2025. Comparable store sales grew by 13%.

The company's net income reached $1.5bn, up from $987m a year earlier, and earnings per share increased to $4.69 from $3.03 in the previous year's first half.

Outlook for third and fourth quarter

Looking ahead, Ross Stores expects comparable store sales to rise 6% to 7% in the third quarter and 4% to 5% in the fourth.

Its earnings per share are projected in the range of $1.75 to $1.83 and $2.17 to $2.26 for the third and fourth quarters, respectively.

Conroy added: "From a store growth perspective, we continue to be encouraged by the success of our expansion strategy across both new and existing markets. As a result, we are increasing our 2026 new store opening plan to 115 locations, consisting of approximately 90 Ross Dress for Less and 25 dd's DISCOUNTS stores.

"The year is off to a very strong start with the entire organisation executing at a high level. As our efforts to improve topline growth continue, we remain focused on disciplined, consistent execution across the business. Moving forward, we believe we are well positioned to capture additional market share and drive profitable growth over the long term."

"Ross Stores raises forecast after surge in Q2 sales and store openings" was originally created and published by Just Style, a GlobalData owned brand.