245bed008ff5eacc0375bb0de214ee535c905de964013955938b0802e7dd7915

Adjustments for Non-Cash Items [USD, Thousands]

Stock-Based Compensation [USD, Thousands]

Changes in Working Capital [USD, Thousands]

Capital Expenditures (CapEx) [USD, Thousands]

Proceeds from / Repayments of Debt [USD, Thousands]

Share Repurchases [USD, Thousands]

Dividend Payments [USD, Thousands]

Net Change in Cash [USD, Thousands]

6879805c4c9ee83bb6d9b389f66fbb147c98ed595dae90c1dc12895ef2364d07

Total Revenue [USD, Thousands]

Cost of Goods Sold (COGS) [USD, Thousands]

Selling, General, and Administrative Expenses (SG&A) [USD, Thousands]

Research and Development (R&D) [USD, Thousands]

Depreciation and Amortization (D&A) [USD, Thousands]

Interest Expense [USD, Thousands]

Operating Income (EBIT) [USD, Thousands]

Net Income [USD, Thousands]

Earnings Per Share (EPS) - Basic [USD, Units]

Earnings Per Share (EPS) - Diluted [USD, Units]

d0112bb83ef76992a9d230b824c9e52e54f4011312c12fe01c1ccad10afbbfba

Home Accents and Bed and Bath

Ladies

Men's

Accessories, Lingerie, Fine Jewelry, and Cosmetics

Shoes

Children's

Total Revenue

9e98158d1d19000721b7da7fb26fe33fc3300860e44d400daad051bb0efd49c8

Number of Ross Dress for Less locations (locations)

989ee056abc7d17d74c94db1c21ce2bf9f43b6989ee9b02d5ea90a3db16c5899

d2eb9a6ecaf2360d4c8d3421c6008424b942500073ce35361dbe1cd48e8c0b45

Net Earnings (USD, thousands)

Depreciation and Amortization (USD, thousands)

Stock-Based Compensation (USD, thousands)

Income Taxes (USD, thousands)

Net Cash Provided by Operating Activities (USD, thousands)

Additions to Property and Equipment (USD, thousands)

Net Cash Used in Investing Activities (USD, thousands)

Issuance of Common Stock Related to Stock Plans (USD, thousands)

Treasury Stock Purchased (USD, thousands)

Repurchase of Common Stock (USD, thousands)

Dividends Paid (USD, thousands)

Payment of Long-Term Debt (USD, thousands)

Net Cash Used in Financing Activities (USD, thousands)

Net Decrease / (Increase) in Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (USD, thousands)

Interest Paid (USD, thousands)

Income Taxes Paid, Net (USD, thousands)

Deferred Income Taxes (USD, thousands)

Merchandise Inventory (USD, thousands)

Other Current Assets (USD, thousands)

Accounts Payable (USD, thousands)

Other Current Liabilities (USD, thousands)

Operating Lease Assets and Liabilities, Net (USD, thousands)

Other Long-Term, Net (USD, thousands)

Beginning of Period Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (USD, thousands)

End of Period Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents (USD, thousands)

9dba7c45a9432afdb18e0e5ebfd2c2563889600f6876dae638c8d69831c0c2ff

The significant increase in Operating Cash Flow in Q4 2024 was driven by **higher net earnings**, **increased depreciation and amortization**, and **increased stock-based compensation**. Additionally, there were favorable changes in working capital, including a **decrease in cash used for merchandise inventory**, a **less negative change in accounts payable**, and a **positive shift in other current liabilities**.  **[0000745732-24-000009_rost-20240203.htm:48]** 

What drove the significant increase in Operating Cash Flow in Q4 2024?

The higher **Operating Cash Flow** in FY 2024 was primarily driven by **higher net earnings** (increasing from **$1,512,041 thousand** in FY 2023 to **$1,874,520 thousand** in FY 2024) and significant **changes in working capital**. Specifically, there was a positive shift in **merchandise inventory** (a cash inflow of **$168,725 thousand** in FY 2024 compared to an outflow of **$(238,778) thousand** in FY 2023), improved **accounts payable** management (reducing the cash outflow from **$(365,262) thousand** in FY 2023 to **$(65,327) thousand** in FY 2024), and better handling of **other current liabilities** (a cash inflow of **$296,980 thousand** in FY 2024 versus an outflow of **$(304,454) thousand** in FY 2023). Additionally, **lower incentive compensation payments** and **positive effects from deferred income taxes** (with an inflow of **$20,821 thousand** in FY 2024 compared to an outflow of **$(79,417) thousand** in FY 2023) further contributed to the improvement in cash flow.  **[0000745732-24-000009_rost-20240203.htm:48]** **[0000745732-24-000006_q4fy23exhibit991.htm:5]** **[0000745732-24-000035_rost-20240504.htm:20]** **[0000745732-24-000009_rost-20240203.htm:37]** 

What factors contributed to the higher Operating Cash Flow in FY 2024?

The sharp drop in Operating Cash Flow in **Q1 2025** was mainly due to **higher incentive compensation payments**—related to increased fiscal 2023 incentive bonuses—which significantly reduced cash flow from operations. Additionally, there was a **lower accounts payable leverage** (decreasing from **92% in Q1 2024 to 86% in Q1 2025**) attributed to the timing of merchandise inventory receipts and subsequent payments, which further affected the operating cash flow. Although higher net earnings partially offset this decline, these factors collectively led to the drop in cash flow from operations.  **[0000745732-24-000035_rost-20240504.htm:20]** **[0000745732-24-000035_rost-20240504.htm:5]** 

Why did Operating Cash Flow drop sharply in Q1 2025?

Based on the provided documents, **there is no specific explanation offered for the rebound in Operating Cash Flow in Q2 2025**. While document  **[0000745732-24-000035_rost-20240504.htm:5]**  and document  **[0000745732-24-000050_rost-20240803.htm:6]**  show that Operating Cash Flow increased from **368,921** thousand in Q1 2025 to **592,121.00** thousand in Q2 2025, none of the documents detail the factors or events that led to this increase.

What led to the rebound in Operating Cash Flow in Q2 2025?

c0b51812513dfcda3241efbd34349a3b75ed033078c5c7780c533428b1119d85

The significant reduction in long-term debt in Q1 2025 was driven primarily by the **reclassification of the current portion of long-term debt**. Specifically, a large amount of debt—associated with the **3.375% Senior Notes due 2024**—was reclassified from long-term to current liabilities. This shift increased the current portion from **$249,713,000** to **$948,590,000**, which in turn reduced the long-term portion from **$2,211,017,000** to **$1,513,200,000**. This reclassification was aligned with the scheduled principal payment for 2024 and an upcoming scheduled payment in 2025.  **[0000745732-24-000035_rost-20240504.htm:13]** **[0000745732-24-000035_rost-20240504.htm:3]** 

What drove the significant reduction in long-term debt in Q1 2025?

The surge in the current portion of long-term debt in Q1 2025 is primarily due to the upcoming maturity of the **3.375% Senior Notes due 2024** and the **4.600% Senior Notes due 2025**. These notes, with principal amounts of **$250,000,000** and **$700,000,000** respectively, have been reclassified as current liabilities because they are coming due within the next 12 months.  **[0000745732-24-000035_rost-20240504.htm:13]** **[0000745732-24-000050_rost-20240803.htm:15]** **[0000745732-24-000009_rost-20240203.htm:58]** **[0000745732-24-000035_rost-20240504.htm:3]** 

Why did the current portion of long-term debt surge in Q1 2025?

The jump in cash and cash equivalents in Q4 2024 was primarily driven by **strong earnings growth**—evidenced by increased net earnings—and **improved operating margins**, which rose from **10.7% in Q4 2023** to **12.4% in Q4 2024**. In addition, the company benefited from **disciplined cost management** (including lower ocean freight costs and favorable packaway timing) and executed a significant **stock repurchase program** that maintained ample cash reserves, leading to an increase of approximately **$320,570 thousand** during the period.  **[0000745732-24-000009_rost-20240203.htm:46]** **[ROST_3376551_0]** **[ROST_3376551_3]** **[0000745732-24-000006_q4fy23exhibit991.htm:0]** **[0000745732-24-000006_q4fy23exhibit991.htm:4]** 

What caused the jump in cash and cash equivalents in Q4 2024?

The decline in cash during Q3 2025 was primarily driven by three factors. **Operating activities** provided substantial cash; however, the overall decrease was due in part to significant **investing activities**—mainly heavy spending on property and equipment—and considerable **financing activities**, which included repurchases of common stock, dividend payments, and long-term debt repayments. These combined actions resulted in a net decrease in cash, cash equivalents, and restricted cash of **$520,783,000**.  **[0000745732-24-000059_q324exhibit991.htm:5]** 

What factors contributed to the decline in cash in Q3 2025?

The increase in total assets in Q3 2025 was primarily driven by a **significant rise in merchandise inventory** (an increase of **$666,886 thousand**), a **notable increase in property and equipment, net** (up by **$125,778 thousand**), and an **increase in operating lease assets** (up by **$222,586 thousand**). These increases occurred alongside a slight decrease in cash and cash equivalents, impacting the overall asset mix.  **[0000745732-24-000062_rost-20241102.htm:3]** 

Ross Stores Inc (ROST)

Financials