If you had walked into a Ross "Dress for Less" back in the early 90s, you probably wouldn't have thought, "Hey, this place is going to make me a millionaire." It was cluttered. It was chaotic. Honestly, it still is. But if you’d put a few grand into ROST stock back then, your bank account would look very different today.
Most people look at the ROST stock price history and see a steady line going up. They think it's just another retail success story. It's not. Ross Stores has spent the last forty years defying every single rule of modern business. They don't do e-commerce. They barely advertise. They don't even have fancy lighting. Yet, as of January 2026, the stock has been hitting all-time highs, recently touching $193.23.
How does a "treasure hunt" store beat the internet? It’s a wild ride through decades of market crashes, stock splits, and a very specific kind of retail psychology.
The Early Days: From Pennies to Powerhouse
Let's go back to 1985. The stock was basically trading for 25 cents when adjusted for all the splits. 25 cents! If you were watching the ticker back then, you weren't seeing a titan; you were seeing a scrappy discount chain trying to find its footing in a world dominated by massive department stores.
The real magic started in the late 90s. While tech companies were burning cash on "the future of the web," Ross was busy buying up leftover shirts and shoes for pennies on the dollar. The stock price started creeping up from under $1 to over $2 by the end of 1999. It doesn't sound like much, but that's a 100% gain while the rest of the market was losing its mind over Pets.com.
Why the Splits Matter (A Lot)
If you look at the raw price history, you’ll notice these weird "drops" where the price seems to cut in half overnight. Those weren't crashes. They were stock splits. Ross has done this five times, and it's a huge reason why the share price today is so high despite starting in the basement.
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- March 1997: 2-for-1
- September 1999: 2-for-1
- December 2003: 2-for-1
- December 2011: 2-for-1
- June 2015: 2-for-1
Basically, if you owned one share in 1996, you'd have 32 shares today without spending another dime. This is the "secret sauce" of ROST stock price history. It kept the stock accessible for regular people to buy while the actual value of the company was exploding.
The Great Recession: When Ross Became a "Defensive" Hero
2008 was a nightmare for almost everyone. The S&P 500 was cratering. People were losing their homes. You’d think a clothing store would be the first thing to go, right? Wrong.
Ross actually grew. In 2008, the average stock price was around $6.77. By 2010, it was up to $11.66. While people were cutting back on luxury, they were still shopping at Ross because they had to. This period proved that Ross wasn't just a retail stock; it was a "recession-proof" hedge. When the economy gets ugly, Ross gets busy.
The $20 Billion Milestone and the Pandemic Pivot
By the time 2020 rolled around, Ross was a juggernaut. But then the world stopped. For the first time ever, the company saw a revenue decline—dropping from $16 billion in 2019 to $12.5 billion in 2020. The stock took a hit, dipping into the $80s and $90s.
Critics said this was the end. "They don't have a website!" they yelled. "People can't shop during lockdowns!"
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But here’s the thing: Ross waited. They didn't panic-build a massive shipping infrastructure that would eat their margins. They knew their customers missed the "hunt." By 2022, revenue surged to $18.9 billion. They didn't just recover; they lapped the field.
Recent Performance: 2024 to 2026
If you've been following the numbers lately, it's been a sprint. In early 2024, the stock was hanging around $134. Fast forward to late 2025 and early 2026, and we're looking at prices consistently over $180.
In the fiscal year ending February 2025, Ross pulled in $21.1 billion in revenue. That’s a lot of $12 T-shirts. They even managed to raise their dividend to $1.62 per share annually.
The 10-Year Snapshot: A Steady Climb
| Year | Average Stock Price (Approx) |
|---|---|
| 2016 | $54.19 |
| 2018 | $79.65 |
| 2020 | $92.57 |
| 2022 | $89.17 |
| 2024 | $141.71 |
| 2025 | $146.46 |
| 2026 (Jan) | $192.26 |
The jump from 2024 to 2026 is what really catches the eye. A lot of that is driven by the company's aggressive store rollout. They’re aiming for 2,900 stores eventually. They’re currently sitting at over 1,950. That’s a lot of runway left.
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What Most People Get Wrong About ROST
The biggest misconception is that Ross is a "cheap" stock because it sells cheap stuff. Honestly, from a valuation standpoint, it's often kinda pricey. The P/E ratio (Price-to-Earnings) usually hovers around 25 to 30. That means investors are willing to pay a premium because they trust the management.
Another thing? The "No E-commerce" thing isn't a weakness. It's their greatest strength. By not shipping individual items, they avoid the massive costs of returns and logistics that kill companies like Kohl's or even Target at times. They let the customer do the work of "picking" the items, which keeps their operating margins between 10% and 13%—way higher than most department stores.
Actionable Insights for Investors
If you're looking at the ROST stock price history and wondering if you've missed the boat, keep these three things in mind:
- Watch the "Comparable Store Sales": This is the most important number Ross reports. If it’s flat or growing (like the 3.4% average we've seen lately), the engine is healthy.
- Mind the Tariffs: Management mentioned in 2025 that tariffs could hit earnings by $0.11 to $0.16 per share. Since they source a lot of goods, trade wars are their biggest external threat.
- The Buyback Factor: Ross is a machine when it comes to buying back its own shares. They authorized a $2.1 billion buyback in 2024. When a company buys its own stock, it makes your shares more valuable by default.
The story of Ross Stores isn't about flashy tech or viral marketing. It's about a company that found a boring, messy, and highly profitable way to sell clothes and stuck to it for forty years. Whether the economy is booming or everyone's broke, people still want a deal. And as long as they do, ROST seems to find a way to climb higher.
To stay ahead, keep a close eye on their quarterly earnings calls, specifically looking for updates on their Midwest expansion. That’s where the next leg of growth is likely to come from. Check the dividend ex-dates if you're looking for that $0.41 quarterly payout—usually, they land in early March, June, September, and December.