0000745732-24-000009 | 10-K | XBRL Viewer

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Litigation, Claims, and Assessments	12 Months Ended
Litigation, Claims, and Assessments	Feb. 03, 2024
Commitments and Contingencies Disclosure [Abstract]
Litigation, Claims, and Assessments	Litigation, Claims, and Assessments Like many retailers, the Company has been named in class/representative action lawsuits, primarily in California, alleging violations by the Company of wage and hour laws. Class/representative action litigation remains pending as of February 3, 2024. The Company is also party to various other legal and regulatory proceedings arising in the normal course of business. Actions filed against the Company may include commercial, product and product safety, consumer, intellectual property, environmental, and labor and employment-related claims, including lawsuits in which private plaintiffs or governmental agencies allege that the Company violated federal, state, and/or local laws. Actions against the Company are in various procedural stages. Many of these proceedings raise factual and legal issues and are subject to uncertainties. In the opinion of management, the resolution of currently pending class/representative action litigation and other currently pending legal and regulatory proceedings will not have a material adverse effect on the Company’s financial condition, results of operations, or cash flows.

Summary of Significant Accounting Policies (Schedule of Disaggregation of Revenue) (Details)	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Disaggregation of Revenue [Line Items]
Total	100.00%	100.00%	100.00%
Home Accents and Bed and Bath
Disaggregation of Revenue [Line Items]
Total	26.00%	26.00%	26.00%
Ladies
Disaggregation of Revenue [Line Items]
Total	23.00%	24.00%	25.00%
Men’s
Disaggregation of Revenue [Line Items]
Total	15.00%	15.00%	14.00%
Accessories, Lingerie, Fine Jewelry, and Cosmetics
Disaggregation of Revenue [Line Items]
Total	15.00%	14.00%	14.00%
Shoes
Disaggregation of Revenue [Line Items]
Total	13.00%	12.00%	12.00%
Children’s
Disaggregation of Revenue [Line Items]
Total	8.00%	9.00%	9.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Audit Information	12 Months Ended
Audit Information	Feb. 03, 2024
Audit Information [Abstract]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	San Francisco, California
Auditor Firm ID	34

Consolidated Balance Sheets (Parenthetical) - $ / shares	Feb. 03, 2024	Jan. 28, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	335,172,000	342,753,000
Common stock, shares outstanding (in shares)	335,172,000	342,753,000

Taxes on Earnings (Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Current
Federal	$ 532,913	$ 338,479	$ 442,152
State	85,169	57,552	78,024
Current income taxes	618,082	396,031	520,176
Deferred
Federal	(16,265)	74,062	21,103
State	(4,556)	5,355	(5,328)
Deferred income taxes	(20,821)	79,417	15,775
Total	$ 597,261	$ 475,448	$ 535,951

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Feb. 03, 2024
Accounting Policies [Abstract]
Business	Ross Stores, Inc. and its subsidiaries (the “Company”) is an off-price retailer of first-quality, in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family. At the end of fiscal 2023, the Company operated 1,764 Ross Dress for Less® (“Ross”) locations in 43 states, the District of Columbia, and Guam, and 345 dd’s DISCOUNTS® stores in 22 states. The Ross and dd’s DISCOUNTS stores are supported by the Company’s headquarters, buying offices, and its network of distribution centers and warehouses.
Basis of presentation and fiscal year	The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned. Intercompany transactions and accounts have been eliminated.
Fiscal year	The Company follows the National Retail Federation fiscal calendar and utilizes a 52-53 week fiscal year whereby the fiscal year ends on the Saturday nearest to January 31. The fiscal year ended February 3, 2024, is referred to as fiscal 2023 which was a 53-week year. The fiscal years ended January 28, 2023 and January 29, 2022, are referred to as fiscal 2022 and fiscal 2021, respectively, each of which were 52-week years.
Use of accounting estimates	The preparation of consolidated financial statements in conformity with Generally Accepted Accounting Principles in the United States of America (“GAAP”) requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from the Company’s estimates. The Company’s significant accounting estimates include valuation reserves for inventory, packaway and other inventory carrying costs, useful lives of fixed assets, insurance reserves, reserves for uncertain tax positions, and legal claims.
Segment reporting	The Company has one reportable segment. The Company identifies its operating segments according to how the business activities are managed and evaluated. As of February 3, 2024, the Company identified two operating segments; Ross and dd’s DISCOUNTS. Each operating segment’s operations include only activities related to off-price retailing in stores throughout the United States. The Company determined that the two operating segments share similar economic and other qualitative characteristics and are therefore aggregated into one reportable segment.
Cash and cash equivalents	Cash equivalents consist of highly liquid, fixed income instruments purchased with an original maturity of three months or less. The institutions where these instruments are held could potentially subject the Company to concentrations of credit risk. The Company manages its risk associated with these instruments by primarily holding its cash and cash equivalents across a highly diversified set of banks and other financial institutions.
Restricted cash and cash equivalents	Restricted cash and cash equivalents serve as collateral for certain insurance obligations. These restricted funds are invested in bank deposits, money market mutual funds, and U.S. Government and agency securities, and cannot be withdrawn from the Company’s account without the prior written consent of the secured parties. The classification between current and long-term is based on the timing of expected payments of the obligations.The Company uses standby letters of credit in addition to a funded trust to collateralize these insurance obligations. The standby letters of credit are collateralized by restricted cash.
Estimated fair value of financial instruments	The carrying value of cash and cash equivalents, short- and long-term investments, restricted cash and cash equivalents, accounts receivable, other long-term assets, accounts payable, and other long-term liabilities approximates their estimated fair value. Refer to Note B: Fair Value Measurements and Note D: Debt for additional information. Cash and cash equivalents were $4.9 billion and $4.6 billion at February 3, 2024 and January 28, 2023, respectively, and include bank deposits and money market funds for which the fair value was determined using quoted prices for identical assets in active markets, which are considered to be Level 1 inputs under the fair value measurements and disclosures guidance.
Merchandise inventory	Merchandise inventory is stated at the lower of cost (determined using a weighted-average basis) or net realizable value. The Company purchases inventory that can either be shipped to stores or processed as packaway merchandise with the intent that it will be warehoused and released to stores at a later date. The timing of the release of packaway inventory to the stores is principally driven by the product mix, seasonality of the merchandise, and its relation to the Company’s store merchandise assortment plans. As such, the aging of packaway varies by merchandise category and seasonality of purchase, but typically packaway remains in storage less than six months. Merchandise inventory includes acquisition, transportation, processing, and storage costs related to packaway inventory. The cost of the Company’s merchandise inventory is reduced by valuation reserves for shortage based on historical shortage experience from the Company’s physical merchandise inventory counts and cycle counts.
Cost of goods sold and Revenue recognition	In addition to product costs, the Company includes in cost of goods sold its buying, distribution, and freight expenses, as well as occupancy costs and depreciation and amortization related to the Company’s retail stores, buying, and distribution facilities. Buying expenses include costs to procure merchandise inventories. Distribution expenses include the cost of operating the Company’s distribution centers, warehouses, and cross-dock facilities.The Company recognizes revenue at the point of sale, net of sales taxes collected and an allowance for estimated future returns. The Company recognizes allowances for estimated sales returns on a gross basis as a reduction to sales. The asset recorded for the expected recovery of merchandise inventory was $12.1 million, $11.8 million, and $10.5 million and the liability recorded for the refund due to the customer was $23.7 million, $23.1 million, and $20.3 million as of February 3, 2024, January 28, 2023, and January 29, 2022, respectively. Sales taxes collected that are outstanding and the allowance for estimated future returns are included in Accrued expenses and other and the asset for expected recovery of merchandise is included in Prepaid expenses and other in the Consolidated Balance Sheets.Sales of stored value cards are deferred until they are redeemed for the purchase of Company merchandise. The Company’s stored value cards do not have expiration dates. Based upon historical redemption rates, a small percentage of stored value cards will never be redeemed, which represents breakage. Breakage is estimated and recognized as revenue based upon the historical pattern of customer redemptions.
Property and equipment	Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful life of the asset, typically ranging from three years to 12 years for equipment, 20 years to 40 years for land improvements and buildings, and three years to seven years for computer software costs incurred in developing or obtaining software for internal use. The cost of leasehold improvements is amortized over the useful life of the asset or the applicable lease term, whichever is less. Depreciation and amortization expense on property and equipment was $419.4 million, $394.7 million, and $360.7 million for fiscal 2023, 2022, and 2021, respectively. The Company capitalizes interest during the construction period of facilities and during the development and implementation phase of software projects.
Impairment of long-lived assets	Property and other long-term assets that are subject to depreciation and amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable based on estimated undiscounted future cash flows. For stores that are closed, the Company records an impairment charge, if appropriate, or accelerates depreciation over the revised useful life of the asset. Intangible assets that are not subject to amortization, including goodwill, are tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset may be impaired.
Accounts payable	Accounts payable represents amounts owed to third parties at the end of the period. Accounts payable includes book cash overdrafts (checks issued under zero balance accounts not yet presented for payment) in excess of cash balances in such accounts of approximately $61.4 million and $110.6 million at February 3, 2024 and January 28, 2023, respectively. The Company includes the change in book cash overdrafts in operating cash flows.
Supply chain finance program	The Company facilitates a voluntary supply chain finance program (the “program”) to provide certain suppliers with the opportunity to sell their receivables due from the Company to participating financial institutions at the sole discretion of both the suppliers and the financial institutions. A third-party bank administers the program. The Company’s responsibility is limited to making payment on the terms originally negotiated with each supplier, regardless of whether a supplier sells its receivable to a financial institution. The Company is not a party to the agreements between the participating financial institutions and the suppliers in connection with the program and receives no financial incentives from the suppliers or the financial institutions. No guarantees are provided by the Company under the program and the Company’s rights and obligations to its suppliers are not affected by the program. The range of payment terms negotiated with a supplier is consistent, irrespective of whether a supplier participates in the program.All outstanding payments owed under the program are recorded within Accounts payable in the Consolidated Balance Sheets. The Company accounts for all payments made under the program as a reduction to operating cash flows in Accounts payable within the Consolidated Statements of Cash Flows.
Insurance obligations	The Company uses a combination of insurance and self-insurance for a number of risk management activities, including workers’ compensation, general liability, and employee-related health care benefits. The self-insurance and deductible liability is determined actuarially, based on claims filed and an estimate of claims incurred but not yet reported.
Lease accounting	As the Company’s leases generally do not provide an implicit discount rate, the Company uses the estimated collateralized incremental borrowing rate based on information available at the lease commencement date in determining the present value of lease payments for use in the calculation of the operating lease liabilities and right-of-use assets. This rate is determined using a portfolio approach based on the risk-adjusted rate of interest and requires estimates and assumptions including credit rating, credit spread, and adjustments for the impact of collateral. The Company believes that this is the rate it would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar lease term. Operating lease liabilities and corresponding right-of-use assets include options to extend lease terms that are reasonably certain of being exercised. The Company does not record a lease liability and corresponding right-of-use asset for leases with terms of 12 months or less and accounts for lease and non-lease components as a single lease component. The Company’s lease portfolio is comprised of operating leases with the lease cost recorded on a straight-line basis over the lease term. Refer to Note E: Leases for additional information.
Store pre-opening	Store pre-opening costs are expensed in the period incurred.
Advertising	Advertising costs are expensed in the period incurred and are included in Selling, general and administrative expenses.
Stock-based compensation	The Company recognizes compensation expense based upon the grant date fair value of all stock-based awards, typically over the vesting period.
Taxes on earnings	The Company accounts for income taxes in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, Accounting for Income Taxes, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than changes in the tax law or tax rates. ASC 740 clarifies the criteria that an individual tax position must satisfy for some or all of the benefits of that position to be recognized in a company’s consolidated financial statements. ASC 740 prescribes a recognition threshold of more-likely-than-not and a measurement standard for all tax positions taken or expected to be taken on a tax return in order for those tax positions to be recognized in the consolidated financial statements.
Treasury stock	The Company records treasury stock at cost. Treasury stock includes shares purchased from employees for tax withholding purposes related to vesting of equity plan awards.
Earnings per share ("EPS")	The Company computes and reports both basic EPS and diluted EPS. Basic EPS is computed by dividing net earnings by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed by dividing net earnings by the sum of the weighted-average number of common shares and dilutive common stock equivalents outstanding during the period. Diluted EPS reflects the total potential dilution that could occur from outstanding equity plan awards and unvested shares of both performance and non-performance based awards of restricted stock and restricted stock units.
Recently adopted accounting standards and Recently issued accounting standards	In September 2022, the FASB issued Accounting Standards Update (“ASU”) 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, to enhance transparency about an entity’s use of supplier finance programs. The ASU requires enhanced and additional disclosures about the key terms of supplier finance programs including a description of where in the financial statements any related amounts are presented. The Company adopted ASU 2022-04 in the first quarter of fiscal 2023 on a retrospective basis, excluding the rollforward requirements which will be adopted in fiscal 2024 on a prospective basis. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. Recently issued accounting standards. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU is intended to enhance the transparency and decision usefulness of income tax disclosures. It requires the Company to disclose disaggregated jurisdictional and categorical information for the tax rate reconciliation and the amount of income taxes paid as well as additional income tax related amounts. The new guidance is effective for annual reporting periods beginning after December 15, 2024, with retrospective application permitted. The Company is currently evaluating the impact of this guidance on its disclosures in the consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The standard is effective for annual reporting periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The Company is currently evaluating the impact of this guidance on its disclosures in the consolidated financial statements.
Fair value measurement	Accounting standards pertaining to fair value measurements establish a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The inputs used to measure fair value include: Level 1, observable inputs such as quoted prices in active markets; Level 2, inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, unobservable inputs in which little or no market data exists. This fair value hierarchy requires the Company to develop its own assumptions and maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Corporate, U.S. government and agency, and mortgage-backed securities are classified within Level 1 or Level 2 because these securities are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Cash Flows From Operating Activities
Net earnings	$ 1,874,520	$ 1,512,041	$ 1,722,589
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	419,432	394,655	360,664
Stock-based compensation	145,490	121,936	134,217
Deferred income taxes	(20,821)	79,417	15,775
Change in assets and liabilities:
Merchandise inventory	(168,725)	238,778	(753,291)
Other current assets	(2,261)	(39,487)	1,420
Accounts payable	(65,327)	(365,262)	135,311
Other current liabilities	296,980	(304,454)	198,595
Income taxes	22,931	33,876	(44,579)
Operating lease assets and liabilities, net	8,330	9,261	7,647
Other long-term, net	3,941	8,612	(39,499)
Net cash provided by operating activities	2,514,490	1,689,373	1,738,849
Cash Flows From Investing Activities
Additions to property and equipment	(762,812)	(654,070)	(557,840)
Net cash used in investing activities	(762,812)	(654,070)	(557,840)
Cash Flows From Financing Activities
Issuance of common stock related to stock plans	24,900	24,702	25,069
Treasury stock purchased	(48,568)	(48,855)	(57,345)
Repurchase of common stock	(949,996)	(949,996)	(649,997)
Dividends paid	(454,814)	(431,295)	(405,123)
Payments of long-term debt	0	0	(65,000)
Net cash used in financing activities	(1,428,478)	(1,405,444)	(1,152,396)
Net increase (decrease) in cash, cash equivalents, and restricted cash and cash equivalents	323,200	(370,141)	28,613
Cash and cash equivalents, and restricted cash and cash equivalents:
Beginning of year	4,612,241	4,982,382	4,953,769
End of year	4,935,441	4,612,241	4,982,382
Supplemental Cash Flow Disclosures
Interest paid	80,316	80,316	84,331
Income taxes paid	$ 595,152	$ 362,156	$ 564,755

Taxes on Earnings (Components of Deferred Income Taxes) (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Deferred Tax Assets
Accrued liabilities	$ 35,010	$ 31,303
Deferred compensation	39,366	40,201
Stock-based compensation	52,431	46,139
State taxes and credits	18,494	15,755
Employee benefits	33,764	24,715
Operating lease liabilities	826,566	820,219
Other	9,053	7,976
Deferred Tax Assets	1,014,684	986,308
Deferred Tax Liabilities
Depreciation and amortization	(369,529)	(372,497)
Merchandise inventory	(25,410)	(24,493)
Supplies	(14,137)	(13,239)
Operating lease assets	(785,608)	(781,277)
Other	(16,238)	(11,861)
Deferred Tax Liabilities	(1,210,922)	(1,203,367)
Net Deferred Tax Liabilities	$ (196,238)	$ (217,059)

Stockholders' Equity (Common Stock Repurchase Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Equity [Abstract]
Common stock repurchased (in shares)	8.2	10.3	5.7
Average repurchase price (in dollars per share)	$ 115.24	$ 92.15	$ 114.29
Common stock repurchased	$ 950,000	$ 949,996	$ 649,997

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

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- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

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Stock-Based Compensation (Recognized Stock-based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 145,490	$ 121,936	$ 134,217
Restricted stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	92,511	85,092	72,210
Performance awards
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	48,584	32,484	57,582
Employee stock purchase plan (“ESPP”)
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 4,395	$ 4,360	$ 4,425

Summary of Significant Accounting Policies (Narrative) (Details) $ in Thousands	12 Months Ended
	Feb. 03, 2024 USD ($) store state number_of_store segment shares	Jan. 28, 2023 USD ($) shares	Jan. 29, 2022 USD ($) shares
Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments \| segment	1
Number of operating segments \| segment	2
Collateral trust	$ 60,800	$ 57,800	$ 56,700
Cash and cash equivalents	$ 4,872,446	4,551,876	4,922,365
Packaway inventory, storage period, less than	6 months
Depreciation and amortization expense on property and equipment	$ 419,432	394,655	360,664
Capitalized interest	12,106	5,678	14,476
Book cash overdrafts	61,400	110,600
Supplier finance program, obligation, current	146,900	119,200
Expected recovery of merchandise inventory	12,100	11,800	10,500
Refund due to customers	23,700	23,100	20,300
Advertising costs	$ 67,700	$ 66,500	$ 65,100
Anti-dilutive weighted average shares excluded from EPS calculation (in shares) \| shares	200	11,100	3,500
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts payable
Standby Letters of Credit
Summary Of Significant Accounting Policies [Line Items]
Letters of credit, outstanding	$ 2,200	$ 2,600	$ 3,300
Property, Plant and Equipment
Summary Of Significant Accounting Policies [Line Items]
Property and equipment purchased but not yet paid	$ 78,200	$ 71,000	$ 47,300
Minimum \| Equipment
Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated useful life, straight-line method	3 years
Minimum \| Land, Buildings and Improvements
Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated useful life, straight-line method	20 years
Minimum \| Software and Software Development Costs
Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated useful life, straight-line method	3 years
Maximum \| Equipment
Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated useful life, straight-line method	12 years
Maximum \| Land, Buildings and Improvements
Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated useful life, straight-line method	40 years
Maximum \| Software and Software Development Costs
Summary Of Significant Accounting Policies [Line Items]
Property and equipment estimated useful life, straight-line method	7 years
Ross Dress for Less
Summary Of Significant Accounting Policies [Line Items]
Number of stores \| store	1,764
Number of states company operates in \| state	43
dd's Discounts
Summary Of Significant Accounting Policies [Line Items]
Number of stores \| number_of_store	345
Number of states company operates in \| state	22

Leases (Narrative) (Details)	12 Months Ended
Leases (Narrative) (Details)	Feb. 03, 2024 option
Operating Leased Assets [Line Items]
Renewal option term of leases	5 years
Minimum
Operating Leased Assets [Line Items]
Non-cancelable lease term	3 years
Number of options to renew store lease for five year period	3
Maximum
Operating Leased Assets [Line Items]
Non-cancelable lease term	10 years
Number of options to renew store lease for five year period	4

Leases (Tables)

12 Months Ended

Feb. 03, 2024

Leases [Abstract]

Schedule of Net Operating Lease Costs

The following table presents net operating lease cost included in the Consolidated Statement of Earnings for fiscal 2023, 2022, and 2021:


($000)	2023		2022		2021
Operating lease cost1	$	760,268	$	721,340	$	687,187
Variable lease costs2	219,526		206,262		194,112
Net lease cost3	$	979,794	$	927,602	$	881,299

1 Net of sublease income which was immaterial.
2 Includes property and rent taxes, insurance, common area maintenance, percentage rent, and negotiated rent abatements.
3 Excludes short-term lease costs which were immaterial.

The weighted-average remaining lease term and the weighted-average discount rate for operating leases as of February 3, 2024 and January 28, 2023 are as follows:


	2023		2022
Weighted-average remaining lease term (years):
Including the long-term ground lease related to the New York buying office	9.8		10.0
Excluding the long-term ground lease related to the New York buying office	5.4		5.5

Weighted-average discount rate:
Including the long-term ground lease related to the New York buying office	3.9	%	3.5	%
Excluding the long-term ground lease related to the New York buying office	3.6	%	3.1	%

The following table presents cash paid for amounts included in the measurement of operating lease liabilities and operating lease assets obtained in exchange for operating lease liabilities (includes new leases and remeasurements or modifications of existing leases) for fiscal 2023, 2022, and 2021:


($000)	2023		2022		2021
Cash paid for amounts included in the measurement of operating lease liabilities	$	746,254	$	701,478	$	745,110
Operating lease assets obtained in exchange for operating lease liabilities	$	682,580	$	705,220	$	545,401

Schedule of Maturities of Operating Lease Liabilities

The maturity of operating lease liabilities, including the ground lease related to the New York buying office as of February 3, 2024, are as follows:


($000)	Operating Leases1
2024	$	730,583
2025	722,550
2026	608,814
2027	497,641
2028	371,173
Thereafter	1,557,432
Total lease payments	$	4,488,193
Less: interest	1,201,219
Present value of lease liabilities	$	3,286,974
Less: current operating lease liabilities	683,625
Non-current operating lease liabilities	$	2,603,349

1 Operating leases exclude $233.0 million of minimum lease payments for leases signed that have not yet commenced.

Summary of Significant Accounting Policies

12 Months Ended

Feb. 03, 2024

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Business. Ross Stores, Inc. and its subsidiaries (the “Company”) is an off-price retailer of first-quality, in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family. At the end of fiscal 2023, the Company operated 1,764 Ross Dress for Less® (“Ross”) locations in 43 states, the District of Columbia, and Guam, and 345 dd’s DISCOUNTS® stores in 22 states. The Ross and dd’s DISCOUNTS stores are supported by the Company’s headquarters, buying offices, and its network of distribution centers and warehouses.

Basis of presentation and fiscal year. The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned. Intercompany transactions and accounts have been eliminated. The Company follows the National Retail Federation fiscal calendar and utilizes a 52-53 week fiscal year whereby the fiscal year ends on the Saturday nearest to January 31. The fiscal year ended February 3, 2024, is referred to as fiscal 2023 which was a 53-week year. The fiscal years ended January 28, 2023 and January 29, 2022, are referred to as fiscal 2022 and fiscal 2021, respectively, each of which were 52-week years.

Use of accounting estimates. The preparation of consolidated financial statements in conformity with Generally Accepted Accounting Principles in the United States of America (“GAAP”) requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from the Company’s estimates. The Company’s significant accounting estimates include valuation reserves for inventory, packaway and other inventory carrying costs, useful lives of fixed assets, insurance reserves, reserves for uncertain tax positions, and legal claims.

Segment reporting. The Company has one reportable segment. The Company identifies its operating segments according to how the business activities are managed and evaluated. As of February 3, 2024, the Company identified two operating segments; Ross and dd’s DISCOUNTS. Each operating segment’s operations include only activities related to off-price retailing in stores throughout the United States. The Company determined that the two operating segments share similar economic and other qualitative characteristics and are therefore aggregated into one reportable segment.

Cash and cash equivalents. Cash equivalents consist of highly liquid, fixed income instruments purchased with an original maturity of three months or less. The institutions where these instruments are held could potentially subject the Company to concentrations of credit risk. The Company manages its risk associated with these instruments by primarily holding its cash and cash equivalents across a highly diversified set of banks and other financial institutions.

Restricted cash and cash equivalents. Restricted cash and cash equivalents serve as collateral for certain insurance obligations. These restricted funds are invested in bank deposits, money market mutual funds, and U.S. Government and agency securities, and cannot be withdrawn from the Company’s account without the prior written consent of the secured parties. The classification between current and long-term is based on the timing of expected payments of the obligations.

The Company uses standby letters of credit in addition to a funded trust to collateralize these insurance obligations. The standby letters of credit are collateralized by restricted cash. As of February 3, 2024, January 28, 2023, and January 29, 2022 we had $2.2 million, $2.6 million, and $3.3 million, respectively, in standby letters of credit outstanding and $60.8 million, $57.8 million, and $56.7 million, respectively, in a collateral trust.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents in the Consolidated Balance Sheets that reconcile to the amounts shown on the Consolidated Statements of Cash Flows:


($000)	2023		2022		2021
Cash and cash equivalents	$	4,872,446	$	4,551,876	$	4,922,365
Restricted cash and cash equivalents included in:
Prepaid expenses and other	14,489		12,677		11,403
Other long-term assets	48,506		47,688		48,614
Total restricted cash and cash equivalents	62,995		60,365		60,017
Total cash and cash equivalents, and restricted cash and cash equivalents	$	4,935,441	$	4,612,241	$	4,982,382

Estimated fair value of financial instruments. The carrying value of cash and cash equivalents, short- and long-term investments, restricted cash and cash equivalents, accounts receivable, other long-term assets, accounts payable, and other long-term liabilities approximates their estimated fair value. Refer to Note B: Fair Value Measurements and Note D: Debt for additional information.

Cash and cash equivalents were $4.9 billion and $4.6 billion at February 3, 2024 and January 28, 2023, respectively, and include bank deposits and money market funds for which the fair value was determined using quoted prices for identical assets in active markets, which are considered to be Level 1 inputs under the fair value measurements and disclosures guidance.

Merchandise inventory. Merchandise inventory is stated at the lower of cost (determined using a weighted-average basis) or net realizable value. The Company purchases inventory that can either be shipped to stores or processed as packaway merchandise with the intent that it will be warehoused and released to stores at a later date. The timing of the release of packaway inventory to the stores is principally driven by the product mix, seasonality of the merchandise, and its relation to the Company’s store merchandise assortment plans. As such, the aging of packaway varies by merchandise category and seasonality of purchase, but typically packaway remains in storage less than six months. Merchandise inventory includes acquisition, transportation, processing, and storage costs related to packaway inventory. The cost of the Company’s merchandise inventory is reduced by valuation reserves for shortage based on historical shortage experience from the Company’s physical merchandise inventory counts and cycle counts.

Cost of goods sold. In addition to product costs, the Company includes in cost of goods sold its buying, distribution, and freight expenses, as well as occupancy costs and depreciation and amortization related to the Company’s retail stores, buying, and distribution facilities. Buying expenses include costs to procure merchandise inventories. Distribution expenses include the cost of operating the Company’s distribution centers, warehouses, and cross-dock facilities.

Property and equipment. Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation is calculated using the straight-line method over the estimated useful life of the asset, typically ranging from three years to 12 years for equipment, 20 years to 40 years for land improvements and buildings, and three years to seven years for computer software costs incurred in developing or obtaining software for internal use. The cost of leasehold improvements is amortized over the useful life of the asset or the applicable lease term, whichever is less. Depreciation and amortization expense on property and equipment was $419.4 million, $394.7 million, and $360.7 million for fiscal 2023, 2022, and 2021, respectively. The Company capitalizes interest during the construction period of facilities and during the development and implementation phase of software projects. Interest capitalized was $12.1 million, $5.7 million, and $14.5 million in fiscal 2023, 2022, and 2021, respectively. As of February 3, 2024, January 28, 2023, and January 29, 2022, the Company had $78.2 million, $71.0 million, and $47.3 million, respectively, of property and equipment purchased but not yet paid. These purchases are included in Property and Equipment and in Accounts payable and Accrued expenses and other in the accompanying Consolidated Balance Sheets.

Other long-term assets. Other long-term assets as of February 3, 2024 and January 28, 2023 consisted of the following:


($000)	2023		2022
Deferred compensation (Note G)	$	165,582	$	155,496
Restricted cash and cash equivalents	48,506		47,688


Other	29,141		28,899
Total	$	243,229	$	232,083

Impairment of long-lived assets. Property and other long-term assets that are subject to depreciation and amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable based on estimated undiscounted future cash flows. For stores that are closed, the Company records an impairment charge, if appropriate, or accelerates depreciation over the revised useful life of the asset. Intangible assets that are not subject to amortization, including goodwill, are tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset may be impaired. No material impairment charges were recorded during fiscal 2023, 2022, and 2021.

Accounts payable. Accounts payable represents amounts owed to third parties at the end of the period. Accounts payable includes book cash overdrafts (checks issued under zero balance accounts not yet presented for payment) in excess of cash balances in such accounts of approximately $61.4 million and $110.6 million at February 3, 2024 and January 28, 2023, respectively. The Company includes the change in book cash overdrafts in operating cash flows.

Supply chain finance program. The Company facilitates a voluntary supply chain finance program (the “program”) to provide certain suppliers with the opportunity to sell their receivables due from the Company to participating financial institutions at the sole discretion of both the suppliers and the financial institutions. A third-party bank administers the program. The Company’s responsibility is limited to making payment on the terms originally negotiated with each supplier, regardless of whether a supplier sells its receivable to a financial institution. The Company is not a party to the agreements between the participating financial institutions and the suppliers in connection with the program and receives no financial incentives from the suppliers or the financial institutions. No guarantees are provided by the Company under the program and the Company’s rights and obligations to its suppliers are not affected by the program. The range of payment terms negotiated with a supplier is consistent, irrespective of whether a supplier participates in the program.

All outstanding payments owed under the program are recorded within Accounts payable in the Consolidated Balance Sheets. The Company accounts for all payments made under the program as a reduction to operating cash flows in Accounts payable within the Consolidated Statements of Cash Flows. The amounts owed to participating financial institutions under the program and included in Accounts payable were $146.9 million and $119.2 million as of February 3, 2024 and January 28, 2023, respectively.

Insurance obligations. The Company uses a combination of insurance and self-insurance for a number of risk management activities, including workers’ compensation, general liability, and employee-related health care benefits. The self-insurance and deductible liability is determined actuarially, based on claims filed and an estimate of claims incurred but not yet reported. Self-insurance and deductible reserves as of February 3, 2024 and January 28, 2023 consisted of the following:


($000)	2023		2022
Workers’ compensation	$	80,791	$	80,275
General liability	47,663		48,754
Medical plans	8,145		9,650
Total	$	136,599	$	138,679

Workers’ compensation and self-insured medical plan liabilities are included in Accrued payroll and benefits and accruals for general liability are included in Accrued expenses and other in the accompanying Consolidated Balance Sheets.

Other long-term liabilities. Other long-term liabilities as of February 3, 2024 and January 28, 2023 consisted of the following:


($000)	2023		2022
Income taxes (Note F)	$	56,045	$	57,409
Deferred compensation (Note G)	165,582		155,496
Other	10,756		11,199
Total	$	232,383	$	224,104

Lease accounting. As the Company’s leases generally do not provide an implicit discount rate, the Company uses the estimated collateralized incremental borrowing rate based on information available at the lease commencement date in determining the present value of lease payments for use in the calculation of the operating lease liabilities and right-of-use assets. This rate is determined using a portfolio approach based on the risk-adjusted rate of interest and requires estimates and assumptions including credit rating, credit spread, and adjustments for the impact of collateral. The Company believes that this is the rate it would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar lease term. Operating lease liabilities and corresponding right-of-use assets include options to extend lease terms that are reasonably certain of being exercised. The Company does not record a lease liability and corresponding right-of-use asset for leases with terms of 12 months or less and accounts for lease and non-lease components as a single lease component. The Company’s lease portfolio is comprised of operating leases with the lease cost recorded on a straight-line basis over the lease term. Refer to Note E: Leases for additional information.

Revenue recognition. The Company recognizes revenue at the point of sale, net of sales taxes collected and an allowance for estimated future returns. The Company recognizes allowances for estimated sales returns on a gross basis as a reduction to sales. The asset recorded for the expected recovery of merchandise inventory was $12.1 million, $11.8 million, and $10.5 million and the liability recorded for the refund due to the customer was $23.7 million, $23.1 million, and $20.3 million as of February 3, 2024, January 28, 2023, and January 29, 2022, respectively. Sales taxes collected that are outstanding and the allowance for estimated future returns are included in Accrued expenses and other and the asset for expected recovery of merchandise is included in Prepaid expenses and other in the Consolidated Balance Sheets.

Sales of stored value cards are deferred until they are redeemed for the purchase of Company merchandise. The Company’s stored value cards do not have expiration dates. Based upon historical redemption rates, a small percentage of stored value cards will never be redeemed, which represents breakage. Breakage is estimated and recognized as revenue based upon the historical pattern of customer redemptions. Breakage was not material to the consolidated financial statements in fiscal 2023, 2022, and 2021.

The following sales mix table disaggregates revenue by merchandise category for fiscal 2023, 2022, and 2021:


	2023		1	2022		2021
Home Accents and Bed and Bath	26	%		26	%	26	%
Ladies	23	%		24	%	25	%
Men’s	15	%		15	%	14	%
Accessories, Lingerie, Fine Jewelry, and Cosmetics	15	%		14	%	14	%
Shoes	13	%		12	%	12	%
Children’s	8	%		9	%	9	%
Total	100	%		100	%	100	%

Store pre-opening. Store pre-opening costs are expensed in the period incurred.

Advertising. Advertising costs are expensed in the period incurred and are included in Selling, general and administrative expenses. Advertising costs for fiscal 2023, 2022, and 2021 were $67.7 million, $66.5 million, and $65.1 million, respectively.

Stock-based compensation. The Company recognizes compensation expense based upon the grant date fair value of all stock-based awards, typically over the vesting period. Refer to Note C: Stock-Based Compensation, for more information on the Company’s stock-based compensation plans.

Taxes on earnings. The Company accounts for income taxes in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740, Accounting for Income Taxes, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than changes in the tax law or tax rates. ASC 740 clarifies the criteria that an individual tax position must satisfy for some or all of the benefits of that position to be recognized in a company’s consolidated financial statements. ASC 740 prescribes a recognition threshold of more-likely-than-not and a measurement standard for all tax positions taken or expected to be taken on a tax return in order for those tax positions to be recognized in the consolidated financial statements. Refer to Note F: Taxes on Earnings for additional information.

Treasury stock. The Company records treasury stock at cost. Treasury stock includes shares purchased from employees for tax withholding purposes related to vesting of equity plan awards.

Earnings per share (“EPS”). The Company computes and reports both basic EPS and diluted EPS. Basic EPS is computed by dividing net earnings by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed by dividing net earnings by the sum of the weighted-average number of common shares and dilutive common stock equivalents outstanding during the period. Diluted EPS reflects the total potential dilution that could occur from outstanding equity plan awards and unvested shares of both performance and non-performance based awards of restricted stock and restricted stock units.

In fiscal 2023, 2022, and 2021 there were 200, 11,100, and 3,500 weighted-average shares, respectively, that were excluded from the calculation of diluted EPS because their effect would have been anti-dilutive for those years.

The following is a reconciliation of the number of shares (denominator) used in the basic and diluted EPS computations:


Shares in (000s)	Basic EPS		Effect of dilutive common stock equivalents		Diluted EPS
2023
Shares	335,187		2,246		337,433
Amount	$	5.59	$	(0.03)	$	5.56
2022
Shares	343,452		1,770		345,222
Amount	$	4.40	$	(0.02)	$	4.38
2021
Shares	351,496		2,238		353,734
Amount	$	4.90	$	(0.03)	$	4.87

Recently adopted accounting standards. In September 2022, the FASB issued Accounting Standards Update (“ASU”) 2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, to enhance transparency about an entity’s use of supplier finance programs. The ASU requires enhanced and additional disclosures about the key terms of supplier finance programs including a description of where in the financial statements any related amounts are presented. The Company adopted ASU 2022-04 in the first quarter of fiscal 2023 on a retrospective basis, excluding the rollforward requirements which will be adopted in fiscal 2024 on a prospective basis. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

Recently issued accounting standards. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU is intended to enhance the transparency and decision usefulness of income tax disclosures. It requires the Company to disclose disaggregated jurisdictional and categorical information for the tax rate reconciliation and the amount of income taxes paid as well as additional income tax related amounts. The new guidance is effective for annual reporting periods beginning after December 15, 2024, with retrospective application permitted. The Company is currently evaluating the impact of this guidance on its disclosures in the consolidated financial statements.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The standard is effective for annual reporting periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024. The Company is currently evaluating the impact of this guidance on its disclosures in the consolidated financial statements.

Debt (Narrative) (Details)	12 Months Ended
Debt (Narrative) (Details)	Feb. 03, 2024 USD ($) note renewal_option	Jan. 28, 2023 USD ($) note
Senior Notes
Debt Instrument [Line Items]
Unamortized discount and debt issuance costs	$ 14,300,000	$ 18,500,000
Number of series notes \| note	7	7
Senior Notes \| Level 1
Debt Instrument [Line Items]
Unsecured senior notes estimated fair value	$ 2,300,000,000	$ 2,300,000,000
Senior Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity for revolving credit facility	$ 1,300,000,000
Number of renewal options (up to) \| renewal_option	2
Renewal option, term	1 year
Option to increase credit facility, additional amount (up to)	$ 700,000,000
Amount outstanding under the revolving credit facility	0
Senior Unsecured Revolving Credit Facility \| Standby Letters of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity for revolving credit facility	300,000,000
Amount outstanding under the revolving credit facility	$ 0

Stockholders' Equity (Common Stock, Narrative) (Details) - USD ($)	1 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2022	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022	May 31, 2021
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, approved amount		$ 1,900,000,000				$ 1,500,000,000
Stock repurchased program period		2 years
Common stock repurchased			$ 950,000,000	$ 949,996,000	$ 649,997,000
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, approved amount	$ 2,100,000,000
Stock repurchased program period	2 years

- Definition

+ References + Details

Leases (Lease Term and Discount Rate) (Details)	12 Months Ended
Leases (Lease Term and Discount Rate) (Details)	Feb. 03, 2024	Jan. 28, 2023
Weighted-average remaining lease term (years):
Including the long-term ground lease related to the New York buying office	9 years 9 months 18 days	10 years
Excluding the long-term ground lease related to the New York buying office	5 years 4 months 24 days	5 years 6 months
Weighted-average discount rate:
Including the long-term ground lease related to the New York buying office	3.90%	3.50%
Excluding the long-term ground lease related to the New York buying office	0.036	0.031

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Retirement Benefits [Abstract]
Employer match as a percentage of employee's salary (percent) (up to)	4.00%
Company contributions	$ 26,900	$ 24,800	$ 23,600
Long-term plan investments	165,582	155,496
Liability to participants	165,582	155,496
Estimated liability for post-employment medical benefits	$ 13,100	$ 13,300

Debt (Tables)

12 Months Ended

Feb. 03, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt

Unsecured senior debt (the “Senior Notes”), net of unamortized discounts and debt issuance costs, as of February 3, 2024 and January 28, 2023 consisted of the following:


($000)	2023		2022
3.375% Senior Notes due 2024	$	249,713	$	249,257
4.600% Senior Notes due 2025	698,441		697,161
0.875% Senior Notes due 2026	497,268		496,038
4.700% Senior Notes due 2027	240,335		239,899
4.800% Senior Notes due 2030	132,776		132,602
1.875% Senior Notes due 2031	495,820		495,254
5.450% Senior Notes due 2050	146,377		146,299
Total long-term debt1	$	2,460,730	$	2,456,510

Less: current portion	$	249,713	$	—
Total due beyond one year	$	2,211,017	$	2,456,510

Schedule of Annual Principal Payments of Long-term Debt

The following table shows scheduled annual principal payments on long-term debt:


($000)
2024	$	250,000
2025	$	700,000
2026	$	500,000
2027	$	241,786

Thereafter	$	783,205

Revolving credit facilities. The Company’s $1.3 billion senior unsecured revolving credit facility (“Credit Facility”) expires in February 2027 and may be extended at the Company’s request for up to two additional one-year periods subject to customary conditions. The Credit Facility contains a $300 million sublimit for issuance of standby letters of credit. It also contains an option allowing the Company to increase the size of its Credit Facility by up to an additional $700 million, with the agreement of the committing lenders. Interest on borrowings under this Credit Facility is a term rate based on the Secured Overnight Financing Rate (“Term SOFR”) (or an alternate benchmark rate, if Term SOFR is no longer available) plus an applicable margin and is payable quarterly and upon maturity.

The Credit Facility is subject to a quarterly Consolidated Adjusted Debt to Consolidated EBITDAR financial leverage ratio covenant. As of February 3, 2024, the Company was in compliance with the financial covenant, had no borrowings or standby letters of credit outstanding under the Credit Facility, and the $1.3 billion Credit Facility remained in place and available.

Schedule of Components of Interest Expense and Income

The table below shows the components of interest expense and income for fiscal 2023, 2022, and 2021:


($000)	2023		2022		2021
Interest expense on long-term debt	$	84,596	$	84,558	$	88,286

Other interest expense	1,599		1,668		1,351
Capitalized interest	(12,106)		(5,678)		(14,476)
Interest income	(238,207)		(77,706)		(833)
Interest (income) expense, net	$	(164,118)	$	2,842	$	74,328

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Additional paid-in capital	Treasury stock	Retained earnings
Beginning balance (in shares) at Jan. 30, 2021		356,503
Beginning balance, value at Jan. 30, 2021	$ 3,290,640	$ 3,565	$ 1,579,824	$ (478,550)	$ 2,185,801
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	1,722,589				1,722,589
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		905
Common stock issued under stock plans, net of shares used for tax withholding	(32,276)	$ 9	25,060	(57,345)
Stock-based compensation	$ 134,217		134,217
Common stock repurchased (in shares)	5,700	5,688
Common stock repurchased	$ 649,997	$ 57	21,571		628,369
Dividends declared	(405,123)				(405,123)
Ending balance (in shares) at Jan. 29, 2022		351,720
Ending balance, value at Jan. 29, 2022	4,060,050	$ 3,517	1,717,530	(535,895)	2,874,898
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	1,512,041				1,512,041
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		1,343
Common stock issued under stock plans, net of shares used for tax withholding	(24,153)	$ 14	24,688	(48,855)
Stock-based compensation	$ 121,936		121,936
Common stock repurchased (in shares)	10,300	10,310
Common stock repurchased	$ 949,996	$ 103	43,905		905,988
Dividends declared	$ (431,295)				(431,295)
Ending balance (in shares) at Jan. 28, 2023	342,753	342,753
Ending balance, value at Jan. 28, 2023	$ 4,288,583	$ 3,428	1,820,249	(584,750)	3,049,656
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	1,874,520				1,874,520
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		662
Common stock issued under stock plans, net of shares used for tax withholding	(23,668)	$ 7	24,893	(48,568)
Stock-based compensation	$ 145,490		145,490
Common stock repurchased (in shares)	8,200	8,243
Common stock repurchased	$ 950,000
Common stock repurchased, inclusive of excise tax	(958,785)	$ (83)	(38,007)		(920,695)
Dividends declared	$ (454,814)				(454,814)
Ending balance (in shares) at Feb. 03, 2024	335,172	335,172
Ending balance, value at Feb. 03, 2024	$ 4,871,326	$ 3,352	$ 1,952,625	$ (633,318)	$ 3,548,667

Leases (Maturities of Operating Lease Liabilities) (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Leases [Abstract]
2024	$ 730,583
2025	722,550
2026	608,814
2027	497,641
2028	371,173
Thereafter	1,557,432
Total lease payments	4,488,193
Less: interest	1,201,219
Present value of lease liabilities	3,286,974
Less: current operating lease liabilities	683,625	$ 655,976
Non-current operating lease liabilities	2,603,349	$ 2,593,961
Minimum lease payments for leases signed that have not yet commenced	$ 233,000

Stockholders' Equity (2017 Equity Incentive Plan) (Details) - shares	May 17, 2017	Feb. 03, 2024
2017 Equity Incentive Plan
Class of Stock [Line Items]
Initial share reserve (in shares)	12,000,000
Shares available for new restricted stock awards (in shares)		7,800,000
2008 and 2017 Equity Plan
Class of Stock [Line Items]
Share increase for equity plan (in shares)	5,500,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Stockholders' Equity (Preferred Stock) (Details)	Feb. 03, 2024 $ / shares shares
Stockholders' Equity Note [Abstract]
Preferred stock, shares authorized (in shares)	4,000,000.0
Preferred stock, par value (in dollars per share) \| $ / shares	$ 0.01
Preferred stock, shares issued (in shares)	0
Preferred stock, shares outstanding (in shares)	0

Fair Value Measurements

12 Months Ended

Feb. 03, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

Accounting standards pertaining to fair value measurements establish a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value. The inputs used to measure fair value include: Level 1, observable inputs such as quoted prices in active markets; Level 2, inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, unobservable inputs in which little or no market data exists. This fair value hierarchy requires the Company to develop its own assumptions and maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Corporate, U.S. government and agency, and mortgage-backed securities are classified within Level 1 or Level 2 because these securities are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

The fair value of the Company’s financial instruments as of February 3, 2024 and January 28, 2023 are as follows:


($000)	2023		2022
Cash and cash equivalents (Level 1)	$	4,872,446	$	4,551,876




Restricted cash and cash equivalents (Level 1)	$	62,995	$	60,365

The underlying assets in the Company’s nonqualified deferred compensation program as of February 3, 2024 and January 28, 2023 (included in Other long-term assets and Other long-term liabilities) primarily consist of participant-directed money market, stock, and bond funds. The fair value measurement for funds with quoted market prices in active markets (Level 1) are as follows:


($000)	2023		2022
Nonqualified deferred compensation program (Level 1)	$	165,582	$	155,496

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Fair Value Measurements (Balance Sheet Items) (Details) - Nonqualified deferred compensation program (Level 1) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents (Level 1)	$ 4,872,446	$ 4,551,876
Restricted cash and cash equivalents (Level 1)	$ 62,995	$ 60,365

Summary of Significant Accounting Policies (Schedule of Other Long-Term Liabilities) (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Accounting Policies [Abstract]
Income taxes (Note F)	$ 56,045	$ 57,409
Deferred compensation (Note G)	165,582	155,496
Other	10,756	11,199
Total	$ 232,383	$ 224,104

Leases (Exchange for New Operating Lease Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 746,254	$ 701,478	$ 745,110
Operating lease assets obtained in exchange for operating lease liabilities	$ 682,580	$ 705,220	$ 545,401

Summary of Significant Accounting Policies (Schedule of Basic and Diluted EPS) (Details) - $ / shares shares in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Accounting Policies [Abstract]
Basic EPS (in shares)	335,187	343,452	351,496
Basic EPS (in dollars per share)	$ 5.59	$ 4.40	$ 4.90
Effect of dilutive common stock equivalents (in shares)	2,246	1,770	2,238
Effect of dilutive common stock equivalents (in dollars per share)	$ (0.03)	$ (0.02)	$ (0.03)
Diluted EPS (in shares)	337,433	345,222	353,734
Diluted EPS (in dollars per share)	$ 5.56	$ 4.38	$ 4.87

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Stockholders' Equity

12 Months Ended

Feb. 03, 2024

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common stock. In May 2021, the Company’s Board of Directors authorized a program to repurchase up to $1.5 billion of the Company’s common stock through fiscal 2022.

In March 2022, the Company’s Board of Directors approved a two-year program to repurchase up to $1.9 billion of the Company’s common stock through fiscal 2023. This program replaced the previous $1.5 billion stock repurchase program, effective at the end of fiscal 2021 (at which time the Company had repurchased $650 million under the previous $1.5 billion program).

In March 2024, the Company’s Board of Directors approved a new two-year program to repurchase up to $2.1 billion of the Company’s common stock through fiscal 2025.

The following table summarizes the Company’s stock repurchase activity in fiscal 2023, 2022, and 2021:


Fiscal Year	Shares repurchased (in millions)	Average repurchase price		Amount repurchased (in millions)
2023	8.2	$	115.24	$	950	1
2022	10.3	$	92.15	$	950
2021	5.7	$	114.29	$	650
1 Amount excludes excise tax due under the Inflation Reduction Act of 2022.

Preferred stock. The Company has 4.0 million shares of preferred stock authorized, with a par value of $.01 per share. No preferred stock is issued or outstanding.

Dividends. On March 5, 2024, the Company’s Board of Directors declared a quarterly cash dividend of $0.3675 per common share, payable on March 29, 2024. The Company’s Board of Directors declared a cash dividend of $0.3350 per common share in February, May, August, and November 2023. The Company’s Board of Directors declared a cash dividend of $0.3100 per common share in March, May, August, and November 2022. The Company’s Board of Directors declared a cash dividend of $0.2850 per common share in March, May, August, and November 2021. During fiscal 2023, 2022, and 2021, the Company paid dividends of $454.8 million, $431.3 million, and $405.1 million, respectively.

2017 Equity Incentive Plan. On May 17, 2017, the Company’s stockholders approved the Ross Stores, Inc. 2017 Equity Incentive Plan (the “2017 Plan”) which replaced the Company’s 2008 Equity Incentive Plan (“Predecessor Plan”). The 2017 Plan, which was authorized to issue a maximum of 12.0 million shares, was immediately effective upon approval and no further awards were granted under the Predecessor Plan, which was terminated.

The 2017 Plan has an initial share reserve of 12.0 million shares of the Company’s common stock which can be increased by a maximum of 5.5 million shares from certain expired, withheld, or forfeited shares from the 2017 Plan or the Predecessor Plan. The 2017 Plan provides for various types of incentive awards, which may potentially include the grant of stock options, stock appreciation rights, restricted stock purchase rights, restricted stock bonuses, restricted stock units, performance shares, performance units, and deferred compensation awards. As of February 3, 2024, there were 7.8 million shares available for grant under the 2017 Plan.

A summary of restricted stock and performance share award activity for fiscal 2023 is presented below:


	Number of shares (000)	Weighted-average grant date fair value

Unvested at January 28, 2023	3,943	$	99.69
Awarded	1,690	109.59
Released	(1,139)	95.98
Forfeited	(99)	102.40
Unvested at February 3, 2024	4,395	$	104.52

All unvested shares at February 3, 2024 are only subject to service vesting conditions. The market value of shares of restricted stock and performance shares at the date of grant is amortized to expense over the vesting period of generally three to five years. The unamortized compensation expense at February 3, 2024 and January 28, 2023 was $217.1 million and $183.2 million, respectively, which is expected to be recognized over a weighted-average remaining period of 1.7 years and 1.8 years, respectively. Intrinsic value for unvested restricted stock, defined as the closing market value per share on the last business day of fiscal year 2023 (or $143.68), applied to the unvested shares was $631.5 million. A total of 7.8 million, 8.9 million, and 9.3 million shares were available for new restricted stock awards at the end of fiscal 2023, 2022, and 2021, respectively. During fiscal 2023, 2022, and 2021, shares purchased by the Company for tax withholding totaled 0.5 million shares in each year and are considered treasury shares which are available for reissuance. As of February 3, 2024 and January 28, 2023, the Company held 15.8 million and 15.3 million shares of treasury stock, respectively.

The Company has a performance share award program for senior executives. A performance share award represents a right to receive shares of restricted stock on a specified settlement date based on the Company’s attainment of a performance goal during the performance period, which is the Company’s fiscal year. If attained, the restricted stock then vests over a service period, generally three years from the date the performance award was granted.

Employee Stock Purchase Plan. Under the Employee Stock Purchase Plan, eligible employees participating in the quarterly offering period can choose to have up to the lesser of 10% of their annual base earnings or the IRS annual share purchase limit of $25,000 in aggregate market value to purchase the Company’s common stock. The purchase price of the stock is 85% of the closing market price on the date of purchase. Purchases occur on a quarterly basis (on the last trading day of each calendar quarter). The Company recognizes expense for ESPP purchase rights equal to the value of the 15% discount given on the purchase date.

During fiscal 2023, 2022, and 2021, employees purchased approximately 0.3 million shares in each year of the Company’s common stock under the plan at weighted-average per share prices of $98.86, $74.54, and $99.07, respectively. Through February 3, 2024, approximately 41.3 million shares had been issued under this plan and 3.6 million shares remained available for future issuance.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
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-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

Stockholders' Equity (Restricted Stock Activity) (Details) - Restricted stock shares in Thousands	12 Months Ended
	Feb. 03, 2024 $ / shares shares
Number of shares (000)
Unvested at beginning of period (in shares) \| shares	3,943
Awarded (in shares) \| shares	1,690
Released (in shares) \| shares	(1,139)
Forfeited (in shares) \| shares	(99)
Unvested at end of period (in shares) \| shares	4,395
Weighted-average grant date fair value
Unvested at beginning of period (in dollars per share) \| $ / shares	$ 99.69
Awarded (in dollars per share) \| $ / shares	109.59
Released (in dollars per share) \| $ / shares	95.98
Forfeited (in dollars per share) \| $ / shares	102.40
Unvested at end of period (in dollars per share) \| $ / shares	$ 104.52

Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Current Assets
Cash and cash equivalents	$ 4,872,446	$ 4,551,876
Accounts receivable	130,766	145,694
Merchandise inventory	2,192,220	2,023,495
Prepaid expenses and other	202,706	183,654
Total current assets	7,398,138	6,904,719
Property and Equipment
Land and buildings	1,486,557	1,495,006
Fixtures and equipment	4,220,221	3,961,733
Leasehold improvements	1,577,102	1,433,647
Construction-in-progress	628,730	319,319
Property and equipment, gross	7,912,610	7,209,705
Less accumulated depreciation and amortization	4,380,709	4,028,178
Property and equipment, net	3,531,901	3,181,527
Operating lease assets	3,126,841	3,098,134
Other long-term assets	243,229	232,083
Total assets	14,300,109	13,416,463
Current Liabilities
Accounts payable	1,955,850	2,009,924
Accrued expenses and other	671,867	638,561
Current operating lease liabilities	683,625	655,976
Accrued payroll and benefits	548,371	279,710
Income taxes payable	76,370	52,075
Current portion of long-term debt	249,713	0
Total current liabilities	4,185,796	3,636,246
Long-term debt	2,211,017	2,456,510
Non-current operating lease liabilities	2,603,349	2,593,961
Other long-term liabilities	232,383	224,104
Deferred income taxes	196,238	217,059
Commitments and contingencies
Stockholders’ Equity
Common stock, par value $0.01 per share	3,352	3,428
Additional paid-in capital	1,952,625	1,820,249
Treasury stock	(633,318)	(584,750)
Retained earnings	3,548,667	3,049,656
Total stockholders’ equity	4,871,326	4,288,583
Total liabilities and stockholders’ equity	$ 14,300,109	$ 13,416,463

Stockholders' Equity (Performance Shares and Restricted Stock, Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury stock, number of shares held (in shares)	15.8	15.3
2017 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for new restricted stock awards (in shares)	7.8
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized compensation expense	$ 217.1	$ 183.2
Weighted average remaining period of unrecognized compensation expense	1 year 8 months 12 days	1 year 9 months 18 days
Intrinsic value per share, end of period (in dollars per share)	$ 143.68
Intrinsic value, end of period	$ 631.5
Treasury stock shares acquired (in shares)	0.5	0.5	0.5
Restricted stock \| 2017 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for new restricted stock awards (in shares)	7.8	8.9	9.3
Restricted stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	3 years
Restricted stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	5 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period	3 years

Debt (Interest Expense/Income, Net) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Debt Disclosure [Abstract]
Interest expense on long-term debt	$ 84,596	$ 84,558	$ 88,286
Other interest expense	1,599	1,668	1,351
Capitalized interest	(12,106)	(5,678)	(14,476)
Interest income	(238,207)	(77,706)	(833)
Interest (income) expense, net	$ (164,118)	$ 2,842	$ 74,328

Summary of Significant Accounting Policies (Summary of Insurance Obligations) (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Accounting Policies [Abstract]
Workers’ compensation	$ 80,791	$ 80,275
General liability	47,663	48,754
Medical plans	8,145	9,650
Total	$ 136,599	$ 138,679

Summary of Significant Accounting Policies (Schedule of Restricted Cash Reconciliation) (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022	Jan. 30, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 4,872,446	$ 4,551,876	$ 4,922,365
Restricted cash and cash equivalents included in:
Prepaid expenses and other	14,489	12,677	11,403
Other long-term assets	48,506	47,688	48,614
Total restricted cash and cash equivalents	62,995	60,365	60,017
Total cash and cash equivalents, and restricted cash and cash equivalents	$ 4,935,441	$ 4,612,241	$ 4,982,382	$ 4,953,769

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	1 Months Ended												12 Months Ended
	Nov. 30, 2023	Aug. 31, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Mar. 31, 2022	Nov. 30, 2021	Aug. 31, 2021	May 31, 2021	Mar. 31, 2021	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 0.3350	$ 0.3350	$ 0.3350	$ 0.3350	$ 0.3100	$ 0.3100	$ 0.3100	$ 0.3100	$ 0.2850	$ 0.2850	$ 0.2850	$ 0.2850	$ 1.340	$ 1.240	$ 1.140

Stockholders' Equity (Employee Stock Purchase Plan) (Details) - USD ($) $ / shares in Units, shares in Millions	12 Months Ended			36 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022	Jan. 28, 2023
Stockholders' Equity Note [Abstract]
Plan participant's annual percentage ceiling for ESPP (in percentage)	10.00%
Plan participant's annual dollar amount ceiling for ESPP	$ 25,000
Purchase price for shares under ESPP (in percentage)	85.00%
Discount rate under the ESPP (in percentage)	15.00%
Shares purchased by employees (in shares)	0.3	0.3	0.3
Shares purchased by employees, average price per share (in dollars per share)	$ 98.86	$ 74.54	$ 99.07	$ 74.54
Shares issued under plan (in shares)				41.3
Shares remaining for future issuance (in shares)	3.6

Summary of Significant Accounting Policies (Schedule of Other Long-Term Assets) (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Accounting Policies [Abstract]
Deferred compensation (Note G)	$ 165,582	$ 155,496
Restricted cash and cash equivalents	48,506	47,688
Other	29,141	28,899
Total	$ 243,229	$ 232,083

Fair Value Measurements (Tables)

12 Months Ended

Feb. 03, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Instruments

The fair value of the Company’s financial instruments as of February 3, 2024 and January 28, 2023 are as follows:


($000)	2023		2022
Cash and cash equivalents (Level 1)	$	4,872,446	$	4,551,876




Restricted cash and cash equivalents (Level 1)	$	62,995	$	60,365

Schedule of Fair Value of Assets and Liabilities

The fair value measurement for funds with quoted market prices in active markets (Level 1) are as follows:


($000)	2023		2022
Nonqualified deferred compensation program (Level 1)	$	165,582	$	155,496

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 03, 2024

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents


($000)	2023		2022		2021
Cash and cash equivalents	$	4,872,446	$	4,551,876	$	4,922,365
Restricted cash and cash equivalents included in:
Prepaid expenses and other	14,489		12,677		11,403
Other long-term assets	48,506		47,688		48,614
Total restricted cash and cash equivalents	62,995		60,365		60,017
Total cash and cash equivalents, and restricted cash and cash equivalents	$	4,935,441	$	4,612,241	$	4,982,382

Restrictions on Cash and Cash Equivalents


($000)	2023		2022		2021
Cash and cash equivalents	$	4,872,446	$	4,551,876	$	4,922,365
Restricted cash and cash equivalents included in:
Prepaid expenses and other	14,489		12,677		11,403
Other long-term assets	48,506		47,688		48,614
Total restricted cash and cash equivalents	62,995		60,365		60,017
Total cash and cash equivalents, and restricted cash and cash equivalents	$	4,935,441	$	4,612,241	$	4,982,382

Schedule of Other Long-Term Assets

Other long-term assets as of February 3, 2024 and January 28, 2023 consisted of the following:


($000)	2023		2022
Deferred compensation (Note G)	$	165,582	$	155,496
Restricted cash and cash equivalents	48,506		47,688


Other	29,141		28,899
Total	$	243,229	$	232,083

Summary of Insurance Obligations

Self-insurance and deductible reserves as of February 3, 2024 and January 28, 2023 consisted of the following:


($000)	2023		2022
Workers’ compensation	$	80,791	$	80,275
General liability	47,663		48,754
Medical plans	8,145		9,650
Total	$	136,599	$	138,679

Schedule of Other Long-Term Liabilities

Other long-term liabilities as of February 3, 2024 and January 28, 2023 consisted of the following:


($000)	2023		2022
Income taxes (Note F)	$	56,045	$	57,409
Deferred compensation (Note G)	165,582		155,496
Other	10,756		11,199
Total	$	232,383	$	224,104

Schedule of Disaggregation of Revenue

The following sales mix table disaggregates revenue by merchandise category for fiscal 2023, 2022, and 2021:


	2023		1	2022		2021
Home Accents and Bed and Bath	26	%		26	%	26	%
Ladies	23	%		24	%	25	%
Men’s	15	%		15	%	14	%
Accessories, Lingerie, Fine Jewelry, and Cosmetics	15	%		14	%	14	%
Shoes	13	%		12	%	12	%
Children’s	8	%		9	%	9	%
Total	100	%		100	%	100	%

Schedule of Basic and Diluted EPS

The following is a reconciliation of the number of shares (denominator) used in the basic and diluted EPS computations:


Shares in (000s)	Basic EPS		Effect of dilutive common stock equivalents		Diluted EPS
2023
Shares	335,187		2,246		337,433
Amount	$	5.59	$	(0.03)	$	5.56
2022
Shares	343,452		1,770		345,222
Amount	$	4.40	$	(0.02)	$	4.38
2021
Shares	351,496		2,238		353,734
Amount	$	4.90	$	(0.03)	$	4.87

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Feb. 03, 2024	Mar. 11, 2024	Jul. 29, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Feb. 03, 2024
Current Fiscal Year End Date	--02-03
Document Transition Report	false
Entity File Number	0-14678
Entity Registrant Name	Ross Stores, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-1390387
Entity Address, Address Line One	5130 Hacienda Drive
Entity Address, City or Town	Dublin
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94568-7579
City Area Code	(925)
Local Phone Number	965-4400
Title of 12(b) Security	Common stock, par value $.01
Trading Symbol	ROST
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 38,089,466,770
Entity Common Stock, Shares Outstanding (in shares)		335,174,141
Documents Incorporated by Reference	Portions of the Proxy Statement for the Registrant’s 2024 Annual Meeting of Stockholders, which will be filed on or before June 3, 2024, are incorporated herein by reference into Part III.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0000745732

Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Debt Instrument [Line Items]
Total long-term debt1	$ 2,460,730	$ 2,456,510
Current portion of long-term debt	249,713	0
Long-term debt	$ 2,211,017	2,456,510
Senior Notes \| 3.375% Senior Notes due 2024
Debt Instrument [Line Items]
Stated interest rate (percent)	3.375%
Total long-term debt1	$ 249,713	249,257
Senior Notes \| 4.600% Senior Notes due 2025
Debt Instrument [Line Items]
Stated interest rate (percent)	4.60%
Total long-term debt1	$ 698,441	697,161
Senior Notes \| 0.875% Senior Notes due 2026
Debt Instrument [Line Items]
Stated interest rate (percent)	0.875%
Total long-term debt1	$ 497,268	496,038
Senior Notes \| 4.700% Senior Notes due 2027
Debt Instrument [Line Items]
Stated interest rate (percent)	4.70%
Total long-term debt1	$ 240,335	239,899
Senior Notes \| 4.800% Senior Notes due 2030
Debt Instrument [Line Items]
Stated interest rate (percent)	4.80%
Total long-term debt1	$ 132,776	132,602
Senior Notes \| 1.875% Senior Notes due 2031
Debt Instrument [Line Items]
Stated interest rate (percent)	1.875%
Total long-term debt1	$ 495,820	495,254
Senior Notes \| 5.450% Senior Notes due 2050
Debt Instrument [Line Items]
Stated interest rate (percent)	5.45%
Total long-term debt1	$ 146,377	$ 146,299

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Income Statement [Abstract]
Sales	$ 20,376,941	$ 18,695,829	$ 18,916,244
Costs and Expenses
Cost of goods sold	14,801,601	13,946,230	13,708,907
Selling, general and administrative	3,267,677	2,759,268	2,874,469
Interest (income) expense, net	(164,118)	2,842	74,328
Total costs and expenses	17,905,160	16,708,340	16,657,704
Earnings before taxes	2,471,781	1,987,489	2,258,540
Provision for taxes on earnings	597,261	475,448	535,951
Net earnings	$ 1,874,520	$ 1,512,041	$ 1,722,589
Earnings per share
Basic (in dollars per share)	$ 5.59	$ 4.40	$ 4.90
Diluted (in dollars per share)	$ 5.56	$ 4.38	$ 4.87
Weighted-average shares outstanding (000)
Basic (in shares)	335,187	343,452	351,496
Diluted (in shares)	337,433	345,222	353,734

Leases (Lease Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Lease Costs) (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Leases [Abstract]
Operating lease cost	$ 760,268	$ 721,340	$ 687,187
Variable lease costs	219,526	206,262	194,112
Net lease cost	$ 979,794	$ 927,602	$ 881,299

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 1,874,520	$ 1,512,041	$ 1,722,589
Other comprehensive income	0	0	0
Comprehensive income	$ 1,874,520	$ 1,512,041	$ 1,722,589

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
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+ Details

Taxes on Earnings (Narrative) (Details) - USD ($) $ in Millions	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Income Tax Contingency [Line Items]
Reserves for unrecognized tax benefits	$ 58.6	$ 60.6	$ 68.1
Interest related to the reserve for unrecognized tax benefits	6.2	7.1	$ 7.6
Impact of recognizing taxes and interest related to unrecognized tax benefits	46.6
Unrecognized tax benefits reduction resulting from lapse of applicable statute of limitations (up to)	10.8
State
Income Tax Contingency [Line Items]
Tax credit carryforward	$ 10.1	$ 10.0

Stock-Based Compensation

12 Months Ended

Feb. 03, 2024

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation

For fiscal 2023, 2022, and 2021, the Company recognized stock-based compensation expense as follows:



($000)	2023		2022		2021
Restricted stock	$	92,511	$	85,092	$	72,210
Performance awards	48,584		32,484		57,582
Employee stock purchase plan (“ESPP”)	4,395		4,360		4,425
Total	$	145,490	$	121,936	$	134,217

Capitalized stock-based compensation cost was not material in any year presented.

At February 3, 2024, the Company had one active stock-based compensation plan (further described in Note H: Stockholders’ Equity). The Company recognizes expense for ESPP purchase rights equal to the value of the 15% discount given on the purchase date.

Total stock-based compensation recognized in the Company’s Consolidated Statements of Earnings for fiscal 2023, 2022, and 2021 is as follows:


Statements of Earnings Classification ($000)	2023		2022		2021
Cost of goods sold	$	76,301	$	67,141	$	66,500
Selling, general and administrative	69,189		54,795		67,717
Total	$	145,490	$	121,936	$	134,217

The tax benefits related to stock-based compensation expense for fiscal 2023, 2022, and 2021 were $29.6 million, $24.8 million, and $25.6 million, respectively.

Taxes on Earnings (Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits - beginning of year	$ 53,544	$ 60,547	$ 60,240
Gross increases:
Tax positions in current period	13,206	10,132	10,381
Tax positions in prior period	2,295	672	1,494
Gross decreases:
Tax positions in prior periods	(4,366)	(6,808)	(1,795)
Lapse of statutes of limitations	(11,148)	(9,989)	(9,757)
Settlements	(1,152)	(1,010)	(16)
Unrecognized tax benefits - end of year	$ 52,379	$ 53,544	$ 60,547

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Feb. 03, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company has a defined contribution plan that is available to certain employees. Under the plan, employee and Company contributions and accumulated plan earnings qualify for favorable tax treatment under Section 401(k) of the Internal Revenue Code. This plan permits employees to make contributions up to the maximum limits allowable under the Internal Revenue Code. The Company matches up to 4% of the employee’s salary up to the plan limits. Company matching contributions to the 401(k) plan were $26.9 million, $24.8 million, and $23.6 million in fiscal 2023, 2022, and 2021, respectively. The Company also makes available to management a Nonqualified Deferred Compensation Plan which allows management to make payroll contributions on a pre-tax basis in addition to the 401(k) plan. Other long-term assets include $165.6 million and $155.5 million at February 3, 2024 and January 28, 2023, respectively, of long-term plan investments, at market value, set aside or designated for the Nonqualified Deferred Compensation Plan. Refer to Note B: Fair Value Measurements for additional information. Plan investments are designated by the participants, and investment returns are not guaranteed by the Company. The Company has a corresponding liability to participants of $165.6 million and $155.5 million at February 3, 2024 and January 28, 2023, respectively, included in Other long-term liabilities in the Consolidated Balance Sheets. In addition, the Company has certain individuals who receive or will receive post-employment medical benefits. The estimated liability for these benefits of $13.1 million and $13.3 million is included in Accrued expenses and other in the accompanying Consolidated Balance Sheets as of February 3, 2024 and January 28, 2023, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

Stockholders' Equity (Dividends) (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended												12 Months Ended
	Mar. 29, 2024	Nov. 30, 2023	Aug. 31, 2023	May 31, 2023	Feb. 28, 2023	Nov. 30, 2022	Aug. 31, 2022	May 31, 2022	Mar. 31, 2022	Nov. 30, 2021	Aug. 31, 2021	May 31, 2021	Mar. 31, 2021	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Class of Stock [Line Items]
Dividends declared per share (in dollars per share)		$ 0.3350	$ 0.3350	$ 0.3350	$ 0.3350	$ 0.3100	$ 0.3100	$ 0.3100	$ 0.3100	$ 0.2850	$ 0.2850	$ 0.2850	$ 0.2850	$ 1.340	$ 1.240	$ 1.140
Dividends paid														$ 454,814	$ 431,295	$ 405,123
Subsequent Event
Class of Stock [Line Items]
Dividends declared per share (in dollars per share)	$ 0.3675

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Stockholders' Equity (Tables)

12 Months Ended

Feb. 03, 2024

Stockholders' Equity Note [Abstract]

Summary of Stock Repurchase Activity

The following table summarizes the Company’s stock repurchase activity in fiscal 2023, 2022, and 2021:


Fiscal Year	Shares repurchased (in millions)	Average repurchase price		Amount repurchased (in millions)
2023	8.2	$	115.24	$	950	1
2022	10.3	$	92.15	$	950
2021	5.7	$	114.29	$	650
1 Amount excludes excise tax due under the Inflation Reduction Act of 2022.

Summary of Unvested Restricted Stock Activity

A summary of restricted stock and performance share award activity for fiscal 2023 is presented below:


	Number of shares (000)	Weighted-average grant date fair value

Unvested at January 28, 2023	3,943	$	99.69
Awarded	1,690	109.59
Released	(1,139)	95.98
Forfeited	(99)	102.40
Unvested at February 3, 2024	4,395	$	104.52

Stock-Based Compensation (Narrative) (Details) $ in Millions	12 Months Ended
	Feb. 03, 2024 USD ($) plan	Jan. 28, 2023 USD ($)	Jan. 29, 2022 USD ($)
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Number of active stock-based compensation plans \| plan	1
Discount rate under the ESPP (in percentage)	15.00%
Tax benefit related to stock-based compensation \| $	$ 29.6	$ 24.8	$ 25.6

Debt

12 Months Ended

Feb. 03, 2024

Debt Disclosure [Abstract]

Debt

Long-term debt. Unsecured senior debt (the “Senior Notes”), net of unamortized discounts and debt issuance costs, as of February 3, 2024 and January 28, 2023 consisted of the following:


($000)	2023		2022
3.375% Senior Notes due 2024	$	249,713	$	249,257
4.600% Senior Notes due 2025	698,441		697,161
0.875% Senior Notes due 2026	497,268		496,038
4.700% Senior Notes due 2027	240,335		239,899
4.800% Senior Notes due 2030	132,776		132,602
1.875% Senior Notes due 2031	495,820		495,254
5.450% Senior Notes due 2050	146,377		146,299
Total long-term debt1	$	2,460,730	$	2,456,510

Less: current portion	$	249,713	$	—
Total due beyond one year	$	2,211,017	$	2,456,510

1Net of unamortized discount and debt issuance costs of $14.3 million and $18.5 million as of February 3, 2024 and January 28, 2023, respectively.

Interest on all Senior Notes is payable semi-annually and the Senior Notes are subject to prepayment penalties for early payment of principal.

As of February 3, 2024 and January 28, 2023, the aggregate fair value of the seven outstanding series of Senior Notes was approximately $2.3 billion. The fair value is estimated by obtaining comparable market quotes which are considered to be Level 1 inputs under the fair value measurements and disclosures guidance.

The following table shows scheduled annual principal payments on long-term debt:


($000)
2024	$	250,000
2025	$	700,000
2026	$	500,000
2027	$	241,786

Thereafter	$	783,205

The table below shows the components of interest expense and income for fiscal 2023, 2022, and 2021:


($000)	2023		2022		2021
Interest expense on long-term debt	$	84,596	$	84,558	$	88,286

Other interest expense	1,599		1,668		1,351
Capitalized interest	(12,106)		(5,678)		(14,476)
Interest income	(238,207)		(77,706)		(833)
Interest (income) expense, net	$	(164,118)	$	2,842	$	74,328

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Leases

12 Months Ended

Feb. 03, 2024

Leases [Abstract]

Leases

The Company currently leases its store locations with original, non-cancelable terms that in general range from three years to ten years. Store leases typically contain provisions for three to four renewal options of five years each. The exercise of lease renewal options is at the sole discretion of the Company. Most store leases also provide for minimum annual rentals and for payment of variable lease costs. In addition, some store leases also have provisions for additional rent based on a percentage of sales (“percentage rent”) and others include rental payments adjusted periodically for inflation. The Company’s lease agreements do not contain any material residual guarantees or material restrictive covenants. The Company does not have any financing leases.

The Company leases certain distribution/warehouse facilities with expiration dates ranging from 2025 to 2031 and the majority contain renewal provisions. The Company also leases office space for its Los Angeles and Boston buying offices. The lease terms for these facilities expire in 2027 and 2026, respectively. The Los Angeles and Boston buying office facilities contain renewal provisions. In addition, the Company has a ground lease related to its New York buying office.

The following table presents net operating lease cost included in the Consolidated Statement of Earnings for fiscal 2023, 2022, and 2021:


($000)	2023		2022		2021
Operating lease cost1	$	760,268	$	721,340	$	687,187
Variable lease costs2	219,526		206,262		194,112
Net lease cost3	$	979,794	$	927,602	$	881,299

1 Net of sublease income which was immaterial.
2 Includes property and rent taxes, insurance, common area maintenance, percentage rent, and negotiated rent abatements.
3 Excludes short-term lease costs which were immaterial.

The maturity of operating lease liabilities, including the ground lease related to the New York buying office as of February 3, 2024, are as follows:


($000)	Operating Leases1
2024	$	730,583
2025	722,550
2026	608,814
2027	497,641
2028	371,173
Thereafter	1,557,432
Total lease payments	$	4,488,193
Less: interest	1,201,219
Present value of lease liabilities	$	3,286,974
Less: current operating lease liabilities	683,625
Non-current operating lease liabilities	$	2,603,349

1 Operating leases exclude $233.0 million of minimum lease payments for leases signed that have not yet commenced.

The weighted-average remaining lease term and the weighted-average discount rate for operating leases as of February 3, 2024 and January 28, 2023 are as follows:


	2023		2022
Weighted-average remaining lease term (years):
Including the long-term ground lease related to the New York buying office	9.8		10.0
Excluding the long-term ground lease related to the New York buying office	5.4		5.5

Weighted-average discount rate:
Including the long-term ground lease related to the New York buying office	3.9	%	3.5	%
Excluding the long-term ground lease related to the New York buying office	3.6	%	3.1	%


($000)	2023		2022		2021
Cash paid for amounts included in the measurement of operating lease liabilities	$	746,254	$	701,478	$	745,110
Operating lease assets obtained in exchange for operating lease liabilities	$	682,580	$	705,220	$	545,401

Stock-Based Compensation (Tables)

12 Months Ended

Feb. 03, 2024

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Recognized Stock-Based Compensation

For fiscal 2023, 2022, and 2021, the Company recognized stock-based compensation expense as follows:



($000)	2023		2022		2021
Restricted stock	$	92,511	$	85,092	$	72,210
Performance awards	48,584		32,484		57,582
Employee stock purchase plan (“ESPP”)	4,395		4,360		4,425
Total	$	145,490	$	121,936	$	134,217

Schedule of Stock-Based Compensation Recognized in the Consolidated Statements of Earnings

Total stock-based compensation recognized in the Company’s Consolidated Statements of Earnings for fiscal 2023, 2022, and 2021 is as follows:


Statements of Earnings Classification ($000)	2023		2022		2021
Cost of goods sold	$	76,301	$	67,141	$	66,500
Selling, general and administrative	69,189		54,795		67,717
Total	$	145,490	$	121,936	$	134,217

Taxes on Earnings (Provision for Taxes Effective Rate) (Details)	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Income Tax Disclosure [Abstract]
Federal income taxes at the statutory rate	21.00%	21.00%	21.00%
State income taxes (net of federal benefit) and other, net	3.20%	2.90%	2.70%
Total	24.20%	23.90%	23.70%

Taxes on Earnings (Tables)

12 Months Ended

Feb. 03, 2024

Income Tax Disclosure [Abstract]

Schedule for Income Tax Provision

The provision for income taxes consisted of the following:


($000)	2023		2022		2021
Current
Federal	$	532,913	$	338,479	$	442,152
State	85,169		57,552		78,024
	618,082		396,031		520,176
Deferred
Federal	(16,265)		74,062		21,103
State	(4,556)		5,355		(5,328)
	(20,821)		79,417		15,775
Total	$	597,261	$	475,448	$	535,951

Schedule of Provision for Taxes Effective Rate

The provision for taxes for financial reporting purposes is different from the tax provision computed by applying the statutory federal income tax rate. The differences are reconciled below:


	2023		2022		2021
Federal income taxes at the statutory rate	21.0	%	21.0	%	21.0	%
State income taxes (net of federal benefit) and other, net1	3.2	%	2.9	%	2.7	%



Total	24.2	%	23.9	%	23.7	%


1Certain items in the prior years have been reclassified to conform to the current year’s presentation.

Schedule of Components of Deferred Income Taxes

The components of deferred taxes at February 3, 2024 and January 28, 2023 are as follows:


($000)	2023		2022
Deferred Tax Assets
Accrued liabilities	$	35,010	$	31,303
Deferred compensation	39,366		40,201
Stock-based compensation	52,431		46,139
State taxes and credits	18,494		15,755
Employee benefits	33,764		24,715
Operating lease liabilities	826,566		820,219
Other	9,053		7,976


Deferred Tax Assets	1,014,684		986,308

Deferred Tax Liabilities
Depreciation and amortization	(369,529)		(372,497)
Merchandise inventory	(25,410)		(24,493)
Supplies	(14,137)		(13,239)
Operating lease assets	(785,608)		(781,277)
Other	(16,238)		(11,861)
Deferred Tax Liabilities	(1,210,922)		(1,203,367)
Net Deferred Tax Liabilities	$	(196,238)	$	(217,059)

Schedule of Changes in Amounts of Unrecognized Tax Benefits

The changes in amounts of unrecognized tax benefits (gross of federal tax benefits and excluding interest and penalties) at fiscal 2023, 2022, and 2021 are as follows:


($000)	2023		2022		2021
Unrecognized tax benefits - beginning of year	$	53,544	$	60,547	$	60,240
Gross increases:
Tax positions in current period	13,206		10,132		10,381
Tax positions in prior period	2,295		672		1,494
Gross decreases:
Tax positions in prior periods	(4,366)		(6,808)		(1,795)
Lapse of statutes of limitations	(11,148)		(9,989)		(9,757)
Settlements	(1,152)		(1,010)		(16)
Unrecognized tax benefits - end of year	$	52,379	$	53,544	$	60,547

Debt (Schedule of Maturities of Long-term Debt) (Details) $ in Thousands	Feb. 03, 2024 USD ($)
Debt Disclosure [Abstract]
2024	$ 250,000
2025	700,000
2026	500,000
2027	241,786
Thereafter	$ 783,205

Fair Value Measurements (Underlying Assets in Deferred Compensation Program) (Details) - USD ($) $ in Thousands	Feb. 03, 2024	Jan. 28, 2023
Defined Benefit Plan Disclosure [Line Items]
Total	$ 165,582	$ 155,496
Nonqualified deferred compensation program (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Total	$ 165,582	$ 155,496

Stock-Based Compensation (Total Stock-Based Compensation Recognized in the Consolidated Statements of Earnings) (Details) - USD ($) $ in Thousands	12 Months Ended
	Feb. 03, 2024	Jan. 28, 2023	Jan. 29, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 145,490	$ 121,936	$ 134,217
Cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	76,301	67,141	66,500
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 69,189	$ 54,795	$ 67,717

Taxes on Earnings

12 Months Ended

Feb. 03, 2024

Income Tax Disclosure [Abstract]

Taxes on Earnings

The provision for income taxes consisted of the following:


($000)	2023		2022		2021
Current
Federal	$	532,913	$	338,479	$	442,152
State	85,169		57,552		78,024
	618,082		396,031		520,176
Deferred
Federal	(16,265)		74,062		21,103
State	(4,556)		5,355		(5,328)
	(20,821)		79,417		15,775
Total	$	597,261	$	475,448	$	535,951

The provision for taxes for financial reporting purposes is different from the tax provision computed by applying the statutory federal income tax rate. The differences are reconciled below:


	2023		2022		2021
Federal income taxes at the statutory rate	21.0	%	21.0	%	21.0	%
State income taxes (net of federal benefit) and other, net1	3.2	%	2.9	%	2.7	%



Total	24.2	%	23.9	%	23.7	%


1Certain items in the prior years have been reclassified to conform to the current year’s presentation.

The components of deferred taxes at February 3, 2024 and January 28, 2023 are as follows:


($000)	2023		2022
Deferred Tax Assets
Accrued liabilities	$	35,010	$	31,303
Deferred compensation	39,366		40,201
Stock-based compensation	52,431		46,139
State taxes and credits	18,494		15,755
Employee benefits	33,764		24,715
Operating lease liabilities	826,566		820,219
Other	9,053		7,976


Deferred Tax Assets	1,014,684		986,308

Deferred Tax Liabilities
Depreciation and amortization	(369,529)		(372,497)
Merchandise inventory	(25,410)		(24,493)
Supplies	(14,137)		(13,239)
Operating lease assets	(785,608)		(781,277)
Other	(16,238)		(11,861)
Deferred Tax Liabilities	(1,210,922)		(1,203,367)
Net Deferred Tax Liabilities	$	(196,238)	$	(217,059)

At the end of fiscal 2023 and 2022, the Company’s state tax credit carryforwards for income tax purposes were approximately $10.1 million and $10.0 million, respectively. The state tax credit carryforwards will begin to expire in fiscal 2032.

The changes in amounts of unrecognized tax benefits (gross of federal tax benefits and excluding interest and penalties) at fiscal 2023, 2022, and 2021 are as follows:


($000)	2023		2022		2021
Unrecognized tax benefits - beginning of year	$	53,544	$	60,547	$	60,240
Gross increases:
Tax positions in current period	13,206		10,132		10,381
Tax positions in prior period	2,295		672		1,494
Gross decreases:
Tax positions in prior periods	(4,366)		(6,808)		(1,795)
Lapse of statutes of limitations	(11,148)		(9,989)		(9,757)
Settlements	(1,152)		(1,010)		(16)
Unrecognized tax benefits - end of year	$	52,379	$	53,544	$	60,547

At the end of fiscal 2023, 2022, and 2021, the reserves for unrecognized tax benefits were $58.6 million, $60.6 million, and $68.1 million inclusive of $6.2 million, $7.1 million, and $7.6 million of related reserves for interest and penalties, respectively. The Company accounts for interest and penalties related to unrecognized tax benefits as a part of its provision for taxes on earnings. If recognized, $46.6 million would impact the Company’s effective tax rate. The difference between the total amount of unrecognized tax benefits and the amounts that would impact the effective tax rate relates to amounts attributable to deferred tax assets and liabilities. These amounts are net of federal and state income taxes.

It is reasonably possible that certain federal and state tax matters may be concluded or statutes of limitations may lapse during the next twelve months. Accordingly, the total amount of unrecognized tax benefits may decrease by up to $10.8 million.

The Company is open to audit by the Internal Revenue Service under the statute of limitations for fiscal years 2020 through 2023. The Company’s state income tax returns are generally open to audit under the various statutes of limitations for fiscal years 2019 through 2023. Certain state tax returns are currently under audit by various tax authorities. The Company does not expect the results of these audits to have a material impact on the consolidated financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details