Exhibit 99.2
ROSS STORES, INC.
CONDENSED CONSOLIDATED STATEMENT OF EARNINGS **
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| Quarter 1 |
| Quarter 2 |
| Quarter 3 |
| Quarter 4 |
| Total Year |
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($000, except stores and per share data, unaudited) |
| 2005 |
| 2004 |
| 2005 |
| 2004 |
| 2005 |
| 2004 |
| 2005 |
| 2004 |
| 2005 |
| 2004 |
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Sales |
| $ | 1,123,937 |
| $ | 991,892 |
| $ | 1,171,862 |
| $ | 1,008,600 |
| $ | 1,236,892 |
| $ | 1,027,744 |
| $ | 1,411,488 |
| $ | 1,211,754 |
| $ | 4,944,179 |
| $ | 4,239,990 |
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Costs and Expenses |
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Cost of goods sold |
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| 864,999 |
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| 756,326 |
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| 919,166 |
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| 776,012 |
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| 979,887 |
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| 802,815 |
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| 1,088,539 |
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| 951,451 |
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| 3,852,591 |
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| 3,286,604 |
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Selling, general and administrative |
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| 177,053 |
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| 156,336 |
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| 183,652 |
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| 161,355 |
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| 197,740 |
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| 164,792 |
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| 207,699 |
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| 175,185 |
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| 766,144 |
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| 657,668 |
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Impairment/(gain on disposal) of long-lived assets |
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| — |
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| — |
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| — |
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| 18,000 |
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| — |
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| (2,182 | ) |
| — |
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| — |
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| — |
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| 15,818 |
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Interest expense (income), net |
|
| (298 | ) |
| 170 |
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| (580 | ) |
| 336 |
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| (461 | ) |
| 391 |
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| (1,559 | ) |
| 18 |
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| (2,898 | ) |
| 915 |
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Total costs and expenses |
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| 1,041,754 |
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| 912,832 |
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| 1,102,238 |
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| 955,703 |
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| 1,177,166 |
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| 965,816 |
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| 1,294,679 |
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| 1,126,654 |
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| 4,615,837 |
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| 3,961,005 |
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Earnings before taxes |
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| 82,183 |
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| 79,060 |
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| 69,624 |
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| 52,897 |
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| 59,726 |
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| 61,928 |
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| 116,809 |
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| 85,100 |
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| 328,342 |
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| 278,985 |
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Provision for taxes on earnings |
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| 32,133 |
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| 30,913 |
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| 27,345 |
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| 20,683 |
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| 23,401 |
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| 24,213 |
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| 45,831 |
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| 33,274 |
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| 128,710 |
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| 109,083 |
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Net earnings |
| $ | 50,050 |
| $ | 48,147 |
| $ | 42,279 |
| $ | 32,214 |
| $ | 36,325 |
| $ | 37,715 |
| $ | 70,978 |
| $ | 51,826 |
| $ | 199,632 |
| $ | 169,902 |
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Earnings per share |
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Basic |
| $ | 0.34 |
| $ | 0.32 |
| $ | 0.29 |
| $ | 0.22 |
| $ | 0.25 |
| $ | 0.26 |
| $ | 0.50 |
| $ | 0.36 |
| $ | 1.38 |
| $ | 1.15 |
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Diluted |
| $ | 0.34 |
| $ | 0.31 |
| $ | 0.29 |
| $ | 0.21 |
| $ | 0.25 |
| $ | 0.25 |
| $ | 0.49 |
| $ | 0.35 |
| $ | 1.36 |
| $ | 1.13 |
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Weighted average shares outstanding (000) |
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Basic |
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| 146,007 |
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| 149,890 |
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| 145,102 |
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| 148,106 |
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| 143,753 |
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| 146,199 |
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| 142,439 |
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| 145,662 |
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| 144,325 |
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| 147,468 |
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Diluted |
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| 148,464 |
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| 153,371 |
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| 147,321 |
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| 150,903 |
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| 145,659 |
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| 148,604 |
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| 144,665 |
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| 148,563 |
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| 146,532 |
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| 150,380 |
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Stores open at end of period |
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| 673 |
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| 599 |
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| 695 |
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| 616 |
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| 735 |
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| 651 |
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| 734 |
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| 649 |
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| 734 |
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| 649 |
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** These previously-reported quarterly operating statements reflect the reclassification of certain compensation-related expenses as described in the Company’s 2006 First Quarter Earnings Release issued on May 17, 2006. These reclassifications had no effect of total costs and expenses or net earnings before taxes as they were previously reported. |