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DUBLIN, Calif. - Ross Stores, Inc. (NASDAQ:ROST), a specialty retail company with a market capitalization of $45.9 billion and a robust financial health score rated as "GOOD" by InvestingPro, announced the upcoming retirement of its Executive Vice President and Chief Financial Officer, Adam Orvos, effective September 30, 2025. William Sheehan, currently the Group Senior Vice President, Finance, will step into the role of Deputy Chief Financial Officer immediately and is slated to succeed Orvos on October 1, 2025.
Sheehan, 56, boasts over three decades of financial expertise within the retail sector, having joined Ross in February 2006 after a 15-year tenure at Lord & Taylor. His progressive roles within Ross’s finance division have prepared him to manage a broad scope of financial operations, including accounting, treasury, financial planning, and risk management, among others.
Group President and Chief Operating Officer Michael Hartshorn expressed confidence in Sheehan’s capabilities, citing his long-standing professional relationship with both Hartshorn and Orvos as a foundation for a seamless transition.
CEO Jim Conroy acknowledged Orvos’s contributions to Ross’s robust financial health and extended gratitude on behalf of the company and its board. Conroy also congratulated Sheehan on his promotion, anticipating his continued impact on the company’s financial strategy.
Ross Stores, a notable player in the off-price retail space, operates the largest off-price apparel and home fashion chain in the United States, Ross Dress for Less®, with 1,831 stores across 43 states, D.C., and Guam. The company also runs 355 dd’s DISCOUNTS® stores in 22 states, offering a range of discounted family apparel and home fashions. With trailing twelve-month revenues reaching $21.2 billion and an impressive return on equity of 43%, the company maintains a strong market position. InvestingPro analysis reveals 10 additional key insights about Ross Stores’ performance and financial stability, including its 31-year track record of consistent dividend payments and moderate debt levels. For detailed analysis and more metrics, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
The information in this article is based on a press release statement.
In other recent news, Ross Stores, Inc. reported third-quarter earnings per share (EPS) of $1.48, exceeding both analyst expectations and consensus estimates. The company achieved total sales of $5.1 billion, although this was slightly below the anticipated $5.175 billion. Ross Stores’ operating margin improved by 70 basis points to 11.9%, driven by reduced costs related to incentives, freight, and distribution. Analysts from BofA Securities have maintained a Buy rating with a price target of $180, citing the company’s ability to outperform in a challenging retail environment. Meanwhile, CFRA has kept a Hold rating with a price target of $154, recognizing the company’s strategic position in the off-price sector. Evercore ISI also raised its price target to $180, highlighting robust margin performance and potential easing of merchandise margin pressures into 2025. The upcoming earnings call will be the first for new CEO Jim Conroy, with expectations for conservative guidance for fiscal 2025. Ross Stores projects a 2-3% increase in fourth-quarter comparable store sales, despite a forecasted total sales decline of 1-3%.
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