Ross Stores Inc (ROST) released its first quarter results on Friday, May 21, 2021. The company reported net earnings of $1.34 per share for the first quarter ending April 30, 2021. Earnings for this past quarter were up 254 percent compared to the same period a year ago.
The company was incorporated in 1957 and is headquartered in Dublin, California. Ross Stores, Inc., together with its subsidiaries, operates off-price retail apparel and home fashion stores under the Ross Dress for Less and dd's DISCOUNTS brands. Its stores primarily offer apparel, accessories, footwear, and home fashions.
Ross Stores' revenue increased 8 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 31.12% for the first quarter compared to the same period in the previous year, and operating margins increased to 14.23% over the same period. Net earnings for past trailing twelve months were $867.7 million, down 7% from the prior year.
Moving on to the balance sheet, Ross Stores' cash levels jumped 101% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 1.59% this past year. The current ratio for Ross Stores now stands at 1.72. The company decreased shares outstanding by 0.08%.
Shares of ROST are currently trading around $123.25. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 50.46 and price to book ratio of 11.99.