Overview

• Ross reported flat comparable sales and a 2% decline in first-quarter net income to $479 million while average store visits fell 2.7% year-over-year.
• More than half of Ross’s merchandise is sourced from China, making it vulnerable to a 10% U.S. import tariff and to reciprocal duties reinstated in July.
• CEO Jim Conroy said the company will balance targeted pricing adjustments against margin compression to preserve its off-price value proposition.
• COO Michael Hartshorn expects customers to see price changes in stores by June or July as Ross negotiates better supplier costs.
• A Numerator survey finds 83% of Americans are already altering shopping habits in anticipation of higher import costs.