Ross Stores appoints William Sheehan as next chief financial officer

Ross Stores, Inc. (NASDAQ:ROST), a prominent player in the Specialty Retail industry with a market capitalization of $49.4 billion and annual revenue of $21.5 billion, announced the appointment of William Sheehan as Executive Vice President and Chief Financial Officer, effective October 1, 2025. According to InvestingPro analysis, the company maintains strong financial health with a "GOOD" overall rating. The company stated in a press release that Sheehan will succeed Adam Orvos, who is scheduled to retire as CFO and from his employment with the company on September 30, 2025. The transition comes at a time when Ross Stores demonstrates solid financial metrics, with liquid assets exceeding short-term obligations and operating with a moderate level of debt. InvestingPro subscribers can access 12 additional key insights about the company’s financial position and growth prospects through the comprehensive Pro Research Report.

Sheehan, 56, currently serves as Deputy CFO and Group Senior Vice President, Finance. He joined Ross Stores in February 2006 as Vice President, Corporate Controller, and has held several senior financial roles, including Group Vice President, Finance and Treasurer, and Senior Vice President, Finance. Prior to his tenure at Ross Stores, Sheehan held leadership positions at Lord & Taylor.

According to the company’s statement, Sheehan’s new executive employment agreement will take effect October 1, 2025, with an initial term through March 31, 2029, subject to renewal by mutual agreement. The agreement provides for a base salary of $775,000 per year and an annual incentive cash bonus targeted at 75% of his salary. In connection with his promotion, Sheehan will receive a restricted stock award valued at $1,200,000, based on the closing price of the company’s common stock on the effective date, vesting 100% on September 14, 2029.

The agreement also includes provisions for severance benefits, reimbursement of certain estate planning costs, participation in benefit plans, paid vacation, and standard executive terms such as non-solicitation and non-disparagement clauses. It further includes a provision for potential recoupment of performance-based compensation if financial results are restated and arbitration of disputes.

This information is based on a statement from the company’s SEC filing. Ross Stores’ common stock is listed on the Nasdaq Global Select Market under the ticker ROST.

In other recent news, Ross Stores Inc . reported its second-quarter earnings for 2025, exceeding expectations with earnings per share of $1.56 compared to the anticipated $1.53. However, revenue slightly missed forecasts, coming in at $5.53 billion against the expected $5.54 billion. Wells Fargo raised its price target for Ross Stores to $165 from $150, maintaining an Overweight rating and noting improved sales momentum and reduced tariff pressures in the second quarter. TD Cowen also increased its price target to $162, while keeping a Buy rating, following the reinstatement of Ross Stores’ fiscal year 2025 guidance. UBS raised its price target to $147, maintaining a Neutral rating, and expressed confidence in Ross Stores’ potential to outperform department store peers over the next few years. Bernstein reiterated its Market Perform rating with a $147 price target, describing its outlook as "optimistically cautious" after Ross Stores’ in-line second-quarter results and fiscal guidance. These developments reflect a range of analyst perspectives on Ross Stores’ performance and future prospects.

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