Ross Stores — May 22, 2025 release

For the first quarter, sales and earnings performed at the high end of our expectations while operating margin of 12.2% was flat year-over-year.” Update on Shareholder Payouts During the first quarter of fiscal 2025, a total of 2.0 million shares of common stock were repurchased for an aggregate price of $263 million under the Company’s two-year $2.1 billion authorization approved by its Board of Directors in March 2024. The Company remains on track to buy back a total of $1.05 billion in common stock during fiscal 2025 and complete the program as planned. ROSS STORES, INC. 5130 Hacienda Drive, Dublin, CA 94568 (925) 965-4400          Fiscal 2025 Guidance Looking ahead, Mr. Conroy commented, “Heightened macroeconomic and geopolitical uncertainty persists, most notably prolonged inflation and evolving trade policies. While we directly import only a small portion of our merchandise, more than half of the goods we sell originate from China. As such, we expect pressure on our profitability if tariffs remain at elevated levels. Given the varying nature of tariff announcements, we are only providing an outlook for the second quarter at this time and are withdrawing our previously provided annual sales and earnings guidance.” Mr. Conroy continued, “For the 13 weeks ending August 2, 2025, comparable store sales are now projected to be flat to up 3% on top of a 4% gain in the second quarter of last year. Earnings per share for the second quarter are now projected to be in the range of $1.40 to $1.55, versus earnings per share of $1.59 for the prior year period ended August 3, 2024. This earnings guidance range includes an approximate $0.11 to $0.16 per share cost impact from announced t