By Janet H. Cho

Ross Stores, the discount apparel and home accessories retailer, reported first-quarter sales and earnings that sailed over Wall Street's expectations.

Shares were up 6.8% in after-hours trading, to above $232, after closing down 0.3% in regular trading.

The retailer said sales for the first quarter ended May 2 rose 21% to $6 billion, and that same-store sales grew by "a very robust 17%."

Earnings per share of $2.02 rose 37%, well above its guidance of $1.60 to $1.67.

Wall Street was expecting sales of $5.64 billion and adjusted earnings of $1.73 a share, according to FactSet. Analysts expected Ross to report a same-store sales increase of 9.4% at 2,287 locations.

First-quarter operating margin of 13.4% was well above Ross' estimates of 11.8% to 12.1%, also reflecting strong sales.

"Momentum was solid throughout the quarter, with broad-based strength across the business," CEO Jim Conroy said. "Customer traffic was the primary driver of the strong sales trend as compelling merchandise assortments, higher customer acquisition and engagement from our ongoing marketing initiatives, and an improved in--store experience are resonating with shoppers."

He said sales also benefited from higher consumer spending related to tax refunds.

Based in Dublin, Calif., Ross sells branded and designer apparel, accessories, footwear, and home fashions through the Dress for Less and dd's DISCOUNTS brands.

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May 21, 2026 16:28 ET (20:28 GMT)

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