Accounting Powerpoint Presentation and Sec 10-K Report
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RossStoresSEC10KPresentation.pptxRoss Stores; NASDAQ:ROST
SEC 10K Report
ACCT
Introduction
Ross Stores Inc. was founded in San Bruno, California by Morris Ross in 1950.
In 1953 he sold the company to William Isackson who joined a group of investors to create the off priced retail clothing and home accessories chain that exist today.
Ross Stores Inc. operates 2 brands of off priced retail brands:
Ross and dd’s DISCOUNTS
Headquarters is located in Dublin, CA
Ross stores is ranked 209 on the Fortune 500
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Company Objective
Their mission is to provide high quality
products at competitive discounted prices using specific strategies:
Providing an adequate amount of recognizable brands, labels and apparel at remarkable discounts
Market to customers based on area needs
Providing a accessible locations for consumers in target areas
Source: http://investors.rossstores.com/mobile.view?c=64847&v=202&d=3&id=aHR0cDovL2FwaS50ZW5rd2l6YXJkLmNvbS9maWxpbmcueG1sP2lwYWdlPTEyMTY2MDk5JkRTRVE9MCZTRVE9MCZTUURFU0M9U0VDVElPTl9FTlRJUkUmc3Vic2lkPTU3
Locations
Ross stores are located in 37 states, District of Columbia and Guam and operated 1,622 stores
It is also classified as one of the largest discounted retail apparel and home fashions chains in the U.S.
Full and Part time employees amount to 82,700
Financial Statements
Ross Stores Inc. adheres to the National Retail Federation fiscal calendar where fiscal year ends on the Saturday nearest to January 31st
Financial statements comply with the Generally Accepted Accounting Principals (“GAAP”)
Merchandise inventory reflects the lower cost using a weighted average basis
Cost of goods sold includes buying, distribution, freight expenses and occupying cost(pg.38)
Plant, Property and Equipment are reported at cost minus accumulated depreciation and amortization. Depreciation is calculated using straight line method
Consolidated Statement of Earnings
For Year Ended February 3, 2018
Sales
$14,134,732 billion
Total Cost and Expenses
$12,094,012 billion
Net Earnings
$1,362,753 billion
Consolidated Statement of Comprehensive Income
For Year Ended February 3, 2018
Net Earnings
$1,362,753 billion
Comprehensive Income
$1,362,689 billion
Balance Sheets
February 3, 2018
Total Assets
$5,722,051 billion
Total Liabilities
$2,672,743 billion
Total Stockholders’ equity
$3,049,308 billion
Closing
Ross stores financial reports show the companies determination to achieve its mission and goals in providing valued name brand apparel to targeted customers for a highly discounted price. This is reflected in the record setting annual sales reaching $14.1 billion for fiscal year 2017.
