Ross Stores (ROST) Q2 2026 Earnings
Includes approximately $253 million ($0.60 per share) benefit from IEEPA tariff refunds recognized in Q2
How Did ROST Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: +0.27%.
Did ROST Beat Earnings? Q2 2026 Results
Yes. Ross Stores reported Q2 2026 earnings of $2.66 a share on Aug 20, 2026, beating the $1.95 consensus estimate by 36.7%. Revenue was $6.3B against a $6.2B estimate.
Ross Stores delivered a standout second quarter of fiscal 2026, <a href="https://247wallst.com/investing/2026/08/20/live-will-ross-crush-q2-earnings-tonight-after-its-record-q1/">answering the question decisively</a> as GAAP diluted EPS of $2.66 cleared the $1.95 consensus estimate by 36.73%, while revenue of $6.26 billion rose 13.3% year over year and topped forecasts by 1.63%. The headline earnings figure includes approximately $253 million, or roughly $0.60 per share, in IEEPA tariff refunds recognized in the quarter, a one-time benefit that amplified an already strong result; operating margin expanded 205 basis points even against that backdrop, well ahead of the company's own internal plan. Comparable store sales surged 10%, driven primarily by customer traffic, as CEO Jim Conroy credited compelling merchandise and improved in-store experience for drawing both new and returning shoppers. Ross opened 47 new locations during the period and raised its full-year store opening target to 115. Management also lifted full-year fiscal 2026 GAAP EPS guidance to $8.61 to $8.77, inclusive of the tariff benefit, while projecting Q3 EPS of $1.75 to $1.83 and Q4 EPS of $2.17 to $2.26.
- Comparable store sales up 10% in Q2, primarily driven by customer traffic
- Increase in new customers and higher engagement from existing customers
- Compelling merchandise offerings and engaging marketing initiatives
- Continued enhancements to the in-store experience
- Approximately $253 million in IEEPA tariff refunds boosting operating profits
- Operating margin expanded 205 basis points excluding tariff refunds, above the plan for 130-150 bps improvement
“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 fueled 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. These trends reinforce our belief that the actions we are taking are not only driving the current business performance but that we can continue to build on our early successes.”
Ross Stores CEO, on the earnings call
What Is Ross Stores's Outlook?
Ross Stores raised its outlook for the second half and full fiscal year 2026. Q3 comparable store sales are expected to increase 6% to 7%, with EPS projected at $1.75 to $1.83. Q4 comparable store sales are expected to increase 4% to 5%, with EPS projected at $2.17 to $2.26. Full-year fiscal 2026 EPS guidance was raised to $8.61 to $8.77, inclusive of the approximately $0.60 per share benefit from IEEPA tariff refunds. The company increased its 2026 new store opening plan to 115 locations (approximately 90 Ross Dress for Less and 25 dd's DISCOUNTS).
ROST YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $6.3B | $5.5B | +13.3% |
| Gross Profit | $2.1B | $1.5B | +38.8% |
| Operating Income | $1.1B | $638.3M | +72.9% |
| Net Income | $851.3M | $508.0M | +67.6% |
When Does Ross Stores Report Next?
Figures from SEC filings and company reports. Not investment advice.