Ross Stores (ROST) 10-Q8 Dec 212021 Q3 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Oct. 30, 2021	Nov. 12, 2021
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 30, 2021
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,
Trading Symbol	ROST
Security Exchange Name	NASDAQ
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		353,329,735
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000745732
Current Fiscal Year End Date	--01-29

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2021USD ($)number_of_store$ / sharesshares	Oct. 31, 2020USD ($)number_of_store$ / sharesshares	Oct. 30, 2021USD ($)number_of_store$ / sharesshares	Oct. 31, 2020USD ($)number_of_store$ / sharesshares
Income Statement [Abstract]
Sales	$ 4,574,541	$ 3,754,509	$ 13,895,595	$ 8,281,894
Costs and Expenses
Cost of goods sold	3,326,004	2,711,419	9,935,271	6,681,530
Selling, general and administrative	725,761	877,857	2,118,602	1,812,657
Interest expense, net	18,744	28,740	56,500	64,261
Total costs and expenses	4,070,509	3,618,016	12,110,373	8,558,448
Earnings (loss) before taxes	504,032	136,493	1,785,222	(276,554)
Provision (benefit) for taxes on earnings (loss)	119,002	5,296	429,455	(123,956)
Net earnings (loss)	$ 385,030	$ 131,197	$ 1,355,767	$ (152,598)
Earnings (loss) per share
Basic (in dollars per share) \| $ / shares	$ 1.10	$ 0.37	$ 3.85	$ (0.43)
Diluted (in dollars per share) \| $ / shares	$ 1.09	$ 0.37	$ 3.82	$ (0.43)
Weighted-average shares outstanding (000)
Basic (in shares) \| shares	351,071	352,481	352,308	352,320
Diluted (in shares) \| shares	353,081	354,457	354,477	352,320
Store count at end of period (in number of stores) \| number_of_store	1,924	1,869	1,924	1,869

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 385,030	$ 131,197	$ 1,355,767	$ (152,598)
Other comprehensive income (loss)	0	0	0	0
Comprehensive income (loss)	$ 385,030	$ 131,197	$ 1,355,767	$ (152,598)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Current Assets
Cash and cash equivalents	$ 5,259,595	$ 4,819,293	$ 4,416,124
Accounts receivable	158,765	115,067	122,654
Merchandise inventory	2,231,242	1,508,982	1,630,390
Prepaid expenses and other	195,309	249,149	347,399
Total current assets	7,844,911	6,692,491	6,516,567
Property and Equipment
Land and buildings	1,194,125	1,187,045	1,185,442
Fixtures and equipment	3,357,986	3,243,206	3,201,940
Leasehold improvements	1,317,979	1,278,134	1,243,755
Construction-in-progress	506,903	376,076	372,950
Property and equipment, gross	6,376,993	6,084,461	6,004,087
Less accumulated depreciation and amortization	3,592,707	3,373,965	3,297,203
Property and equipment, net	2,784,286	2,710,496	2,706,884
Operating lease assets	3,032,175	3,084,819	3,132,056
Other long-term assets	254,362	230,061	215,159
Total assets	13,915,734	12,717,867	12,570,666
Current Liabilities
Accounts payable	2,652,881	2,256,928	2,426,390
Accrued expenses and other	625,426	592,122	655,408
Current operating lease liabilities	620,675	598,120	590,122
Accrued payroll and benefits	512,336	400,273	269,709
Income taxes payable	0	54,680	0
Current portion of long-term debt	64,991	64,910	0
Total current liabilities	4,476,309	3,967,033	3,941,629
Long-term debt	2,451,283	2,448,175	2,512,037
Non-current operating lease liabilities	2,551,162	2,621,594	2,672,139
Other long-term liabilities	296,819	268,558	290,795
Deferred income taxes	156,944	121,867	135,029
Commitments and contingencies
Stockholders’ Equity
Common stock, par value $.01 per share Authorized 1,000,000,000 shares Issued and outstanding 353,694,000, 356,503,000 and 356,449,000 shares, respectively	3,537	3,565	3,564
Additional paid-in capital	1,681,802	1,579,824	1,546,078
Treasury stock	(535,642)	(478,550)	(478,419)
Retained earnings	2,833,520	2,185,801	1,947,814
Total stockholders’ equity	3,983,217	3,290,640	3,019,037
Total liabilities and stockholders’ equity	$ 13,915,734	$ 12,717,867	$ 12,570,666

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	353,694,000	356,503,000	356,449,000
Common stock, shares outstanding (in shares)	353,694,000	356,503,000	356,449,000

Condensed Consolidated Statem_3

Condensed 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 Feb. 01, 2020		356,775
Beginning balance at Feb. 01, 2020	$ 3,359,249	$ 3,568	$ 1,458,307	$ (433,328)	$ 2,330,702
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(305,842)				(305,842)
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		318
Common stock issued under stock plans, net of shares used for tax withholding	(26,873)	$ 3	5,441	(32,317)
Stock-based compensation	24,739		24,739
Common stock repurchased (in shares)		(1,171)
Common stock repurchased	(132,467)	$ (12)	(3,576)		(128,879)
Dividends declared ($0.285 per share)	(101,414)				(101,414)
Ending balance (in shares) at May. 02, 2020		355,922
Ending balance at May. 02, 2020	2,817,392	$ 3,559	1,484,911	(465,645)	1,794,567
Beginning balance (in shares) at Feb. 01, 2020		356,775
Beginning balance at Feb. 01, 2020	3,359,249	$ 3,568	1,458,307	(433,328)	2,330,702
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(152,598)
Ending balance (in shares) at Oct. 31, 2020		356,449
Ending balance at Oct. 31, 2020	3,019,037	$ 3,564	1,546,078	(478,419)	1,947,814
Beginning balance (in shares) at May. 02, 2020		355,922
Beginning balance at May. 02, 2020	2,817,392	$ 3,559	1,484,911	(465,645)	1,794,567
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	22,047				22,047
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		84
Common stock issued under stock plans, net of shares used for tax withholding	5,602	$ 1	5,630	(29)
Stock-based compensation	22,158		22,158
Ending balance (in shares) at Aug. 01, 2020		356,006
Ending balance at Aug. 01, 2020	2,867,199	$ 3,560	1,512,699	(465,674)	1,816,614
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	131,197				131,197
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		443
Common stock issued under stock plans, net of shares used for tax withholding	(6,729)	$ 4	6,009	(12,745)	3
Stock-based compensation	27,370		27,370
Ending balance (in shares) at Oct. 31, 2020		356,449
Ending balance at Oct. 31, 2020	3,019,037	$ 3,564	1,546,078	(478,419)	1,947,814
Beginning balance (in shares) at Jan. 30, 2021		356,503
Beginning balance 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 (loss)	476,479				476,479
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		614
Common stock issued under stock plans, net of shares used for tax withholding	(41,315)	$ 6	6,057	(47,378)
Stock-based compensation	28,674		28,674
Dividends declared ($0.285 per share)	(101,657)				(101,657)
Ending balance (in shares) at May. 01, 2021		357,117
Ending balance at May. 01, 2021	3,652,821	$ 3,571	1,614,555	(525,928)	2,560,623
Beginning balance (in shares) at Jan. 30, 2021		356,503
Beginning balance 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 (loss)	1,355,767
Ending balance (in shares) at Oct. 30, 2021		353,694
Ending balance at Oct. 30, 2021	3,983,217	$ 3,537	1,681,802	(535,642)	2,833,520
Beginning balance (in shares) at May. 01, 2021		357,117
Beginning balance at May. 01, 2021	3,652,821	$ 3,571	1,614,555	(525,928)	2,560,623
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	494,258				494,258
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		30
Common stock issued under stock plans, net of shares used for tax withholding	4,834		6,471	(1,637)
Stock-based compensation	29,584		29,584
Common stock repurchased (in shares)		(1,449)
Common stock repurchased	(175,784)	$ (14)	(5,492)		(170,278)
Dividends declared ($0.285 per share)	(101,727)				(101,727)
Ending balance (in shares) at Jul. 31, 2021		355,698
Ending balance at Jul. 31, 2021	3,903,986	$ 3,557	1,645,118	(527,565)	2,782,876
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	385,030				385,030
Common stock issued under stock plans, net of shares used for tax withholding (in shares)		97
Common stock issued under stock plans, net of shares used for tax withholding	(1,985)	$ 1	6,091	(8,077)
Stock-based compensation	38,517		38,517
Common stock repurchased (in shares)		(2,101)
Common stock repurchased	(241,195)	$ (21)	(7,924)		(233,250)
Dividends declared ($0.285 per share)	(101,136)				(101,136)
Ending balance (in shares) at Oct. 30, 2021		353,694
Ending balance at Oct. 30, 2021	$ 3,983,217	$ 3,537	$ 1,681,802	$ (535,642)	$ 2,833,520

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	Mar. 02, 2021	Aug. 31, 2021	May 31, 2021	Mar. 31, 2020	Oct. 30, 2021	Jul. 31, 2021	May 01, 2021	May 02, 2020
Statement of Stockholders' Equity [Abstract]
Dividends declared (in dollars per share)	$ 0.285	$ 0.285	$ 0.285	$ 0.285	$ 0.285	$ 0.285	$ 0.285	$ 0.285

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020
Cash Flows From Operating Activities
Net earnings (loss)	$ 1,355,767	$ (152,598)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization	262,139	268,193
Loss on early extinguishment of debt	0	239,769
Stock-based compensation	96,775	74,267
Deferred income taxes	35,077	(14,650)
Change in assets and liabilities:
Merchandise inventory	(722,260)	201,949
Other current assets	(50,139)	(31,732)
Accounts payable	422,277	1,126,574
Other current liabilities	160,984	118,679
Income taxes	(60,442)	(119,513)
Operating lease assets and liabilities, net	4,767	8,979
Other long-term, net	(1,292)	63,206
Net cash provided by operating activities	1,503,653	1,783,123
Cash Flows From Investing Activities
Additions to property and equipment	(377,916)	(339,545)
Net cash used in investing activities	(377,916)	(339,545)
Cash Flows From Financing Activities
Issuance of common stock related to stock plans	18,626	17,088
Treasury stock purchased	(57,092)	(45,091)
Repurchase of common stock	(416,979)	(132,467)
Dividends paid	(304,520)	(101,411)
Net proceeds from issuance of short-term debt	0	805,601
Payments of short-term debt	0	(804,972)
Net proceeds from issuance of long-term debt	0	2,965,115
Payments of long-term debt	0	(775,009)
Payments of debt extinguishment and debt issuance costs	0	(232,000)
Net cash (used in) provided by financing activities	(759,965)	1,696,854
Net increase in cash, cash equivalents, and restricted cash and cash equivalents	365,772	3,140,432
Cash, cash equivalents, and restricted cash and cash equivalents:
Beginning of period	4,953,769	1,411,410
End of period	5,319,541	4,551,842
Supplemental Cash Flow Disclosures
Interest paid	82,209	70,347
Income taxes paid	$ 454,821	$ 10,207

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Oct. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of presentation. The accompanying unaudited interim condensed consolidated financial statements have been prepared from the records of Ross Stores, Inc. and subsidiaries (the “Company”) without audit and, in the opinion of management, include all adjustments (consisting of only normal, recurring adjustments) necessary to present fairly the Company’s financial position as of October 30, 2021 and October 31, 2020, the results of operations, comprehensive income (loss), and stockholders’ equity for the three and nine month periods ended October 30, 2021 and October 31, 2020, and cash flows for the nine month periods ended October 30, 2021 and October 31, 2020. The Condensed Consolidated Balance Sheet as of January 30, 2021, presented herein, has been derived from the Company’s audited consolidated financial statements for the fiscal year then ended. Certain information and disclosures normally included in the notes to annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted for purposes of these interim condensed consolidated financial statements. The interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements, including notes thereto, contained in the Company’s Annual Report on Form 10-K for the year ended January 30, 2021. The results of operations, comprehensive income (loss), and stockholders’ equity for the three and nine month periods ended October 30, 2021 and October 31, 2020 , and cash flows for the nine month periods ended October 30, 2021 and October 31, 2020 pr esented herein are not necessarily indicative of the results to be expected for the full fiscal year. Use of accounting estimates. The preparation of financial statements in conformity with 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 condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. 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, employee retention credits under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), and legal claims. The ongoing uncertainties and continued impacts from the COVID-19 pandemic increase the challenge of making estimates; actual results could differ materially from the Company’s estimates. Revenue recognition. The following sales mix table disaggregates revenue by merchandise category for the three and nine month periods ended October 30, 2021 and October 31, 2020: Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 1 Ladies 26 % 23 % 26 % 24 % Home Accents and Bed and Bath 25 % 26 % 25 % 26 % Men’s 15 % 15 % 14 % 14 % Accessories, Lingerie, Fine Jewelry, and Cosmetics 13 % 15 % 14 % 14 % Shoes 11 % 12 % 12 % 13 % Children’s 10 % 9 % 9 % 9 % Total 100 % 100 % 100 % 100 % 1 Sales mix for the nine month period ended October 31, 2020 represents sales for the period the stores were open. Cash, restricted cash, and restricted investments. Restricted cash, cash equivalents, and investments serve as collateral for certain insurance and trade payable obligations of the Company. These restricted funds are invested in bank deposits, money market mutual funds, U.S. Government and agency securities, and corporate 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 following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents in the Condensed Consolidated Balance Sheets that reconcile to the amounts shown on the Condensed Consolidated Statements of Cash Flows: ($000) October 30, 2021 January 30, 2021 October 31, 2020 Cash and cash equivalents $ 5,259,595 $ 4,819,293 $ 4,416,124 Restricted cash and cash equivalents included in: Prepaid expenses and other 10,790 85,711 85,322 Other long-term assets 49,156 48,765 50,396 Total restricted cash and cash equivalents 59,946 134,476 135,718 Total cash and cash equivalents, and restricted cash and cash equivalents $ 5,319,541 $ 4,953,769 $ 4,551,842 Property and equipment. As of October 30, 2021 and October 31, 2020, the Company had $14.4 million and $22.4 million, respectively, of property and equipment purchased but not yet paid. These purchases are included in Property and equipment, Accounts payable, and Accrued expenses and other in the accompanying Condensed Consolidated Balance Sheets. Operating leases. In response to the COVID-19 pandemic, the Financial Accounting Standards Board (“FASB”) provided relief under Accounting Standards Update (“ASU”) 2016-02, Leases (Accounting Standards Codification “ASC” 842). Under this relief, companies can make a policy election on how to treat lease concessions resulting directly from the COVID-19 pandemic, provided that the modified contracts result in total cash flows that are substantially the same or less than the cash flows in the original contract. The Company made the policy election to account for lease concessions that result from the COVID-19 pandemic as if they were made under enforceable rights in the original contract. Additionally, the Company made the policy election to account for these concessions outside of the lease modification framework described under ASC 842. The Company recorded accruals for deferred rental payments and recognized rent abatements or concessions as variable lease costs in the periods incurred. Accruals for rent payment deferrals are included in Accrued expenses and other in the accompanying Condensed Consolidated Balance Sheets. Supplemental cash flow disclosures related to leases. Operating lease assets obtained in exchange for new operating lease liabilities (includes new leases and remeasurements or modifications of existing leases) were as follows: Three Months Ended Nine Months Ended ($000) October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Operating lease assets obtained in exchange for new operating lease liabilities $ 208,767 $ 225,345 $ 395,428 $ 509,696 Cash dividends. The Company’s Board of Directors declared a quarterly cash dividend of $0.285 per common share in March 2020. In May 2020, the Company suspended its quarterly dividends due to the economic uncertainty stemming from the COVID-19 pandemic. On March 2, 2021, the Company’s Board of Directors declared a quarterly cash dividend of $0.285 per common share, payable on March 31, 2021, resuming quarterly dividends. The Company’s Board of Directors also declared cash dividends of $0.285 per common share in May 2021 and August 2021. In November 2021, the Company’s Board of Directors declared a cash dividend of $0.285 per common share, payable on December 31, 2021. Litigation, claims, and assessments. Like many retailers, the Company has been named in class/representative action lawsuits, primarily in California, alleging violation of wage and hour/employment laws and consumer protection laws. Class/representative action litigation remains pending as of October 30, 2021. 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 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. Recently adopted accounting standards. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (ASC 740). ASU 2019-12 eliminates certain exceptions in ASC 740 related to the methodology for calculating income taxes in an interim period. It also clarifies and simplifies other aspects of the accounting for income taxes. The amendments in ASU 2019-12 are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted, including adoption in any interim period. The Company adopted ASU 2019-12 on a prospective basis in the first quarter of fiscal 2020. The most significant impact to the Company is the removal of a limit on the tax benefit recognized on pre-tax losses in interim periods. The adoption of this standard did not have a material impact on the Company’s fiscal 2020 results.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Oct. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying value of cash and cash equivalents, short- and long-term investments, restricted cash and cash equivalents, restricted investments, accounts receivable, other long-term assets, accounts payable, and other long-term liabilities approximates their estimated fair value. 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, 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 are as follows: ($000) October 30, 2021 January 30, 2021 October 31, 2020 Cash and cash equivalents (Level 1) $ 5,259,595 $ 4,819,293 $ 4,416,124 Restricted cash and cash equivalents (Level 1) $ 59,946 $ 134,476 $ 135,718 The underlying assets in the Company’s non-qualified deferred compensation program as of October 30, 2021, January 30, 2021, and October 31, 2020 (included in Other long-term assets and in Other long-term liabilities) primarily consist of participant-directed money market, stable value, stock, and bond funds. The fair value measurement for funds with quoted market prices in active markets (Level 1) and for funds without quoted market prices in active markets (Level 2) are as follows: ($000) October 30, 2021 January 30, 2021 October 31, 2020 Level 1 $ 178,966 $ 159,116 $ 134,991 Level 2 — — 10,391 Total $ 178,966 $ 159,116 $ 145,382

Management Incentive Plan and S

Management Incentive Plan and Stock-Based Compensation	9 Months Ended
Management Incentive Plan and Stock-Based Compensation	Oct. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Management Incentive Plan and Stock-Based Compensation	Management Incentive Plan and Stock-Based Compensation The Company has incentive compensation programs which provide cash incentive bonuses and performance share awards to key management and employees based on Company and individual performance. For fiscal 2021, the Compensation Committee of the Board of Directors established the performance measures for determining incentive compensation amounts as based on a combination of profitability-based performance goals and the attainment of specific management priorities related to business challenges from the COVID-19 pandemic, as measured and approved by the Compensation Committee. As of October 30, 2021 , the Company has established an accrual for this incentive compensation based on its forecasted attainment of the profitability-based performance goals and the Compensation Committee’s assessment of progress towards achievement of the specific business priorities. For the fiscal 2020 management incentive bonus plan and performance share awards, the Compensation Committee approved modifications in August 2020 to the performance measurement goals, to be based on the attainment of specific management priorities related to business challenges from the COVID-19 pandemic, as measured and approved by the Compensation Committee, as an alternative to the previously established profitability-based performance goals for 2020. Stock-based compensation. For the three and nine month periods ended October 30, 2021 and October 31, 2020, the Company recognized stock-based compensation expense as follows: Three Months Ended Nine Months Ended ($000) October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Restricted stock $ 18,841 $ 17,330 $ 53,487 $ 51,450 Performance awards 18,601 8,979 40,000 19,801 Employee stock purchase plan 1,075 1,061 3,288 3,016 Total $ 38,517 $ 27,370 $ 96,775 $ 74,267 Total stock-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Operations for the three and nine month periods ended October 30, 2021 and October 31, 2020, is as follows: Three Months Ended Nine Months Ended Statements of Operations Classification ($000) October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Cost of goods sold $ 18,594 $ 13,767 $ 48,354 $ 38,282 Selling, general and administrative 19,923 13,603 48,421 35,985 Total $ 38,517 $ 27,370 $ 96,775 $ 74,267 The tax benefits related to stock-based compensation expense for the three and nine month periods ended October 30, 2021 we re $8.4 million and $19.4 million, respectively. The tax benefits related to stock-based compensation expense for the three and nine month periods ended October 31, 2020 we re $5.1 million and $15.3 million, respectively. Restricted stock awards. The Company grants shares of restricted stock or restricted stock units to directors, officers, and key employees. The market value of shares of restricted stock and restricted stock units at the date of grant is amortized to expense over the vesting period of generally three During the three and nine month periods ended October 30, 2021 and October 31, 2020, shares purchased by the Company for tax withholding totaled 70,488 and 471,081 , and 142,350 and 492,171, respectively, and are considered treasury shares which are available for reissuance. Performance share awards. 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 performance goals during the performance period, which is the Company’s fiscal year. If attained, the restricted stock then vests over a service period, generally two As of October 30, 2021, shares related to unvested restricted stock, restricted stock units, and performance share awards totaled 4.0 million shares. A summary of restricted stock, restricted stock units, and performance share award activity for the nine month period ended October 30, 2021, is presented below: (000, except per share data) Number of Weighted-average Unvested at January 30, 2021 4,230 $ 85.15 Awarded 1,110 121.06 Released (1,222) 75.57 Forfeited (121) 94.90 Unvested at October 30, 2021 3,997 $ 97.79 The unamortized compensation expense at October 30, 2021, was $193.8 million, which is expected to be recognized over a weighted-average remaining period of 2.1 years. The unamortized compensation expense at October 31, 2020, was $178.2 million, which was expected to be recognized over a weighted-average remaining period of 2.1 years. Employee stock purchase plan. Under the Employee Stock Purchase Plan (“ESPP”), 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.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
Earnings (Loss) Per Share	Oct. 30, 2021
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share The Company computes and reports both basic earnings (loss) per share (“EPS”) and diluted EPS. Basic EPS is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed by dividing net earnings (loss) by the sum of the weighted-average number of common shares and dilutive common stock equivalents outstanding during the period, except in cases where the effect of the common stock equivalents would be anti-dilutive. 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. For periods of net loss, basic and diluted EPS are the same as the effect of the assumed vesting of restricted stock, restricted stock units, and performance share awards are anti-dilutive. For the three and nine month periods ended October 30, 2021, approximately 13,200 and 3,000 weighted-average shares were excluded from the calculation of diluted EPS because their effect would have been anti-dilutive for the periods presented. For the three month period ended October 31, 2020, approximately 80,600 weighted-average shares were excluded from the calculation of diluted EPS because their effect would have been anti-dilutive for the period presented. For the nine month period ended October 31, 2020, basic and diluted EPS were the same due to the Company’s net loss. The following is a reconciliation of the number of shares (denominator) used in the basic and diluted EPS computations: Three Months Ended Nine Months Ended Shares in (000s) Basic EPS Effect of Diluted Basic EPS Effect of Diluted October 30, 2021 Shares 351,071 2,010 353,081 352,308 2,169 354,477 Amount $ 1.10 $ (0.01) $ 1.09 $ 3.85 $ (0.03) $ 3.82 October 31, 2020 Shares 352,481 1,976 354,457 352,320 — 352,320 Amount $ 0.37 $ — $ 0.37 $ (0.43) $ — $ (0.43)

Debt

Debt	9 Months Ended
Debt	Oct. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Long-term debt. Unsecured senior debt, net of unamortized discounts and debt issuance costs, consisted of the following: ($000) October 30, 2021 January 30, 2021 October 31, 2020 6.530% Series B Senior Notes due 2021 $ 64,991 $ 64,910 $ 64,883 3.375% Senior Notes due 2024 248,697 248,365 248,256 4.600% Senior Notes due 2025 695,571 694,624 694,310 0.875% Senior Notes due 2026 494,508 493,595 493,297 4.700% Senior Notes due 2027 239,364 239,049 238,944 4.800% Senior Notes due 2030 132,388 132,262 132,220 1.875% Senior Notes due 2031 494,551 494,132 493,998 5.450% Senior Notes due 2050 146,204 146,148 146,129 Total long-term debt $ 2,516,274 $ 2,513,085 $ 2,512,037 Less: current portion 64,991 64,910 — Total due beyond one year $ 2,451,283 $ 2,448,175 $ 2,512,037 Revolving credit facilities. The Company's $800 million unsecured revolving credit facility expires in July 2024, and contains a $300 million sublimit for issuance of standby letters of credit. The facility also contains an option allowing the Company to increase the size of its credit facility by up to an additional $300 million, with the agreement of the lenders. Interest on borrowings under this facility is based on LIBOR (or an alternate benchmark rate, if LIBOR is no longer available) plus an applicable margin and is payable quarterly and upon maturity. The revolving credit facility may be extended, at the Company’s option, for up to two additional one year periods, subject to customary conditions. In March 2020, the Company borrowed $800 million available under its revolving credit facility. Interest on the loan was based on LIBOR plus 0.875% (or 1.76%). In May 2020, the Company amended its $800 million unsecured revolving credit facility (the “Amended Credit Facility”) to temporarily suspend, for the second and third quarters of fiscal 2020, the Consolidated Adjusted Debt to EBITDAR ratio financial covenant, and to apply a transitional modification to that ratio effective in the fourth quarter of fiscal 2020. In October 2020, the Company repaid in full the $800 million it borrowed under the unsecured revolving credit facility. As of October 30, 2021, the Company had no borrowings or standby letters of credit outstanding under this facility, the $800 million credit facility remains in place and available, and the Company was in compliance with the amended covenant. In May 2020, the Company also entered into an additional $500 million 364-day senior revolving credit facility which was scheduled to expire in April 2021. In October 2020, the Company terminated this senior revolving credit facility. The Company had no borrowings under that credit facility at any time. Senior notes. As of October 30, 2021, the Company had outstanding Series B unsecured Senior Notes in the aggregate principal amount of $65 million held by various institutional investors. The Series B notes are due in December 2021, and bear interest at a rate of 6.530%. Borrowings under these Senior Notes are subject to certain financial covenants that were amended in June 2020. As of October 30, 2021 , the Company was in compliance with these covenants. As of October 30, 2021, the Company also had outstanding unsecured 3.375% Senior Notes due September 2024 (the “2024 Notes”) with an aggregate principal amount of $250 million. Interest on the 2024 Notes is payable semi-annually. In April 2020, the Company issued an aggregate of $2.0 billion in unsecured senior notes in four tenors as follows: 4.600% Senior Notes due April 2025 (the “2025 Notes”) with an aggregate principal amount of $700 million, 4.700% Senior Notes due April 2027 (the “2027 Notes”) with an aggregate principal amount of $400 million, 4.800% Senior Notes due April 2030 (the “2030 Notes”) with an aggregate principal amount of $400 million, and 5.450% Senior Notes due April 2050 (the “2050 Notes”) with an aggregate principal amount of $500 million. Cash proceeds, net of discounts and other issuance costs, were approximately $1.973 billion. Interest on the 2025, 2027, 2030, and 2050 Notes is payable semi-annually beginning October 2020. In October 2020, the Company accepted for repurchase approximately $775 million in aggregate principal amount of the senior notes issued in April 2020, pursuant to cash tender offers as follows: $351 million of the 2050 Notes, $266 million of the 2030 Notes, and $158 million of the 2027 Notes. The Company paid approximately $1.003 billion in aggregate consideration (including transaction costs, and accrued and unpaid interest) and recorded an approximately $240 million loss on the early extinguishment for the accepted senior notes. In October 2020, the Company issued an aggregate of $1.0 billion in unsecured senior notes in two tenors as follows: 0.875% Senior Notes due April 2026 (the “2026 Notes”) with an aggregate principal amount of $500 million and 1.875% Senior Notes due April 2031 (the “2031 Notes”) with an aggregate principal amount of $500 million. Cash proceeds, net of discounts and other issuance costs, were approximately $987.2 million. Interest on the 2026 and 2031 Notes is payable semi-annually beginning April 2021. The Company used the net proceeds from the offering of the 2026 and 2031 Notes to fund the purchase of the accepted senior notes from its tender offers. As of October 30, 2021, January 30, 2021, and October 31, 2020, total unamortized discount and debt issuance costs were $23.7 million, $26.9 million, and $28.0 million, respectively, and were classified as a reduction of Long-term debt. All of the Senior Notes are subject to prepayment penalties for early payment of principal. As of October 30, 2021, January 30, 2021, and October 31, 2020 the aggregate fair value of the eight outstanding series of Senior Notes was approximately $2.6 billion, $2.8 billion, and $2.8 billion, respectively. 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 table below shows the components of interest expense and income for the three and nine month periods ended October 30, 2021 and October 31, 2020: Three Months Ended Nine Months Ended ($000) October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Interest expense on long-term debt $ 22,227 $ 27,826 66,626 $ 66,338 Interest expense on short-term debt — 2,565 — 7,861 Other interest expense 391 2,535 1,012 3,844 Capitalized interest (3,682) (3,856) (10,511) (9,359) Interest income (192) (330) (627) (4,423) Interest expense, net $ 18,744 $ 28,740 $ 56,500 $ 64,261

Taxes on Earnings (Loss)

Taxes on Earnings (Loss)	9 Months Ended
Taxes on Earnings (Loss)	Oct. 30, 2021
Income Tax Disclosure [Abstract]
Taxes on Earnings (Loss)	Taxes on Earnings (Loss) On March 27, 2020, the CARES Act was signed into law. The CARES Act made several significant changes to business tax provisions, including modifications for net operating losses, employee retention credits, and deferral of employer payroll tax payments. The modifications for net operating losses eliminate the taxable income limitation for certain net operating losses and allow the carry back of net operating losses arising in 2018, 2019, and 2020 to the five prior tax years, respectively. Subsequently, the Consolidated Appropriations Act of 2021 (“CAA”) and the American Rescue Plan Act (“ARPA”) were signed into law on December 27, 2020 and March 11, 2021, respectively. The CAA and ARPA made several c hanges to business tax provisions, including increasing and extending the employee retention credits through December 31, 2021, extending certain employment-related tax credits through December 31, 2025, and limiting certain executive compensation deductions, effective fiscal 2027. The Company’s effective tax rates for the three month periods ended October 30, 2021 and October 31, 2020, were approximately 24% and 4%, respectively. The increase in the effective tax rate of 20% for the three month period ended October 30, 2021 compared to the three month period ended October 31, 2020 was primarily due to fluctuations in pre-tax earnings (loss) . The Company’s effective tax rates for the nine month periods ended October 30, 2021 and October 31, 2020, were approximately 24% and 45%, respectively. The decrease in the effective tax rate of 21% for the nine month period ended October 30, 2021 compared to the nine month period ended October 31, 2020 was primarily due to fluctuations in pre-tax earnings (loss). The Company's effective tax rate is impacted by changes in tax law and accounting guidance, location of new stores, level of earnings, tax effects associated with share-based compensation, and uncertain tax positions. As of October 30, 2021, January 30, 2021, and October 31, 2020, the reserves for unrecognized tax benefits were $76.9 million, $67.9 million, and $76.1 million, inclusive of $9.8 million, $7.7 million, and $9.4 million of related 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, $61.4 million would impact the Company’s effective tax rate. It is reasonably possible that certain state tax matters may be concluded or statutes of limitations may lapse during the next 12 months. Accordingly, the total amount of unrecognized tax benefits may decrease by up to $9.5 million. 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 income tax assets and liabilities. These amounts are net of federal and state income taxes.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Oct. 30, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation. The accompanying unaudited interim condensed consolidated financial statements have been prepared from the records of Ross Stores, Inc. and subsidiaries (the “Company”) without audit and, in the opinion of management, include all adjustments (consisting of only normal, recurring adjustments) necessary to present fairly the Company’s financial position as of October 30, 2021 and October 31, 2020, the results of operations, comprehensive income (loss), and stockholders’ equity for the three and nine month periods ended October 30, 2021 and October 31, 2020, and cash flows for the nine month periods ended October 30, 2021 and October 31, 2020. The Condensed Consolidated Balance Sheet as of January 30, 2021, presented herein, has been derived from the Company’s audited consolidated financial statements for the fiscal year then ended. Certain information and disclosures normally included in the notes to annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted for purposes of these interim condensed consolidated financial statements. The interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements, including notes thereto, contained in the Company’s Annual Report on Form 10-K for the year ended January 30, 2021. The results of operations, comprehensive income (loss), and stockholders’ equity for the three and nine month periods ended October 30, 2021 and October 31, 2020 , and cash flows for the nine month periods ended October 30, 2021 and October 31, 2020 pr esented herein are not necessarily indicative of the results to be expected for the full fiscal year.
Use of accounting estimates	Use of accounting estimates. The preparation of financial statements in conformity with 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 condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. 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, employee retention credits under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), and legal claims. The ongoing uncertainties and continued impacts from the COVID-19 pandemic increase the challenge of making estimates; actual results could differ materially from the Company’s estimates.
Cash, restricted cash, and restricted investments	Cash, restricted cash, and restricted investments. Restricted cash, cash equivalents, and investments serve as collateral for certain insurance and trade payable obligations of the Company. These restricted funds are invested in bank deposits, money market mutual funds, U.S. Government and agency securities, and corporate 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.
Property and equipment	Property and equipment. As of October 30, 2021 and October 31, 2020, the Company had $14.4 million and $22.4 million, respectively, of property and equipment purchased but not yet paid. These purchases are included in Property and equipment, Accounts payable, and Accrued expenses and other in the accompanying Condensed Consolidated Balance Sheets.
Operating leases	Operating leases. In response to the COVID-19 pandemic, the Financial Accounting Standards Board (“FASB”) provided relief under Accounting Standards Update (“ASU”) 2016-02, Leases (Accounting Standards Codification “ASC” 842). Under this relief, companies can make a policy election on how to treat lease concessions resulting directly from the COVID-19 pandemic, provided that the modified contracts result in total cash flows that are substantially the same or less than the cash flows in the original contract. The Company made the policy election to account for lease concessions that result from the COVID-19 pandemic as if they were made under enforceable rights in the original contract. Additionally, the Company made the policy election to account for these concessions outside of the lease modification framework described under ASC 842. The Company recorded accruals for deferred rental payments and recognized rent abatements or concessions as variable lease costs in the periods incurred. Accruals for rent payment deferrals are included in Accrued expenses and other in the accompanying Condensed Consolidated Balance Sheets.
Recently adopted accounting standards and Recently issued accounting standards	Recently adopted accounting standards. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes (ASC 740). ASU 2019-12 eliminates certain exceptions in ASC 740 related to the methodology for calculating income taxes in an interim period. It also clarifies and simplifies other aspects of the accounting for income taxes. The amendments in ASU 2019-12 are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption is permitted, including adoption in any interim period. The Company adopted ASU 2019-12 on a prospective basis in the first quarter of fiscal 2020. The most significant impact to the Company is the removal of a limit on the tax benefit recognized on pre-tax losses in interim periods. The adoption of this standard did not have a material impact on the Company’s fiscal 2020 results.
Fair Value Measurements	Fair Value Measurements The carrying value of cash and cash equivalents, short- and long-term investments, restricted cash and cash equivalents, restricted investments, accounts receivable, other long-term assets, accounts payable, and other long-term liabilities approximates their estimated fair value. 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, 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.
Earnings (Loss) Per Share	Earnings (Loss) Per ShareThe Company computes and reports both basic earnings (loss) per share (“EPS”) and diluted EPS. Basic EPS is computed by dividing net earnings (loss) by the weighted-average number of common shares outstanding for the period. Diluted EPS is computed by dividing net earnings (loss) by the sum of the weighted-average number of common shares and dilutive common stock equivalents outstanding during the period, except in cases where the effect of the common stock equivalents would be anti-dilutive. 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. For periods of net loss, basic and diluted EPS are the same as the effect of the assumed vesting of restricted stock, restricted stock units, and performance share awards are anti-dilutive.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Oct. 30, 2021
Accounting Policies [Abstract]
Disaggregation of revenue	The following sales mix table disaggregates revenue by merchandise category for the three and nine month periods ended October 30, 2021 and October 31, 2020: Three Months Ended Nine Months Ended October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 1 Ladies 26 % 23 % 26 % 24 % Home Accents and Bed and Bath 25 % 26 % 25 % 26 % Men’s 15 % 15 % 14 % 14 % Accessories, Lingerie, Fine Jewelry, and Cosmetics 13 % 15 % 14 % 14 % Shoes 11 % 12 % 12 % 13 % Children’s 10 % 9 % 9 % 9 % Total 100 % 100 % 100 % 100 % 1 Sales mix for the nine month period ended October 31, 2020 represents sales for the period the stores were open.
Schedule of cash and cash equivalents reconciliation	The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents in the Condensed Consolidated Balance Sheets that reconcile to the amounts shown on the Condensed Consolidated Statements of Cash Flows: ($000) October 30, 2021 January 30, 2021 October 31, 2020 Cash and cash equivalents $ 5,259,595 $ 4,819,293 $ 4,416,124 Restricted cash and cash equivalents included in: Prepaid expenses and other 10,790 85,711 85,322 Other long-term assets 49,156 48,765 50,396 Total restricted cash and cash equivalents 59,946 134,476 135,718 Total cash and cash equivalents, and restricted cash and cash equivalents $ 5,319,541 $ 4,953,769 $ 4,551,842
Schedule of restricted cash reconciliation	The following table provides a reconciliation of cash, cash equivalents, and restricted cash and cash equivalents in the Condensed Consolidated Balance Sheets that reconcile to the amounts shown on the Condensed Consolidated Statements of Cash Flows: ($000) October 30, 2021 January 30, 2021 October 31, 2020 Cash and cash equivalents $ 5,259,595 $ 4,819,293 $ 4,416,124 Restricted cash and cash equivalents included in: Prepaid expenses and other 10,790 85,711 85,322 Other long-term assets 49,156 48,765 50,396 Total restricted cash and cash equivalents 59,946 134,476 135,718 Total cash and cash equivalents, and restricted cash and cash equivalents $ 5,319,541 $ 4,953,769 $ 4,551,842
Supplemental cash flow disclosures related to leases	Supplemental cash flow disclosures related to leases. Operating lease assets obtained in exchange for new operating lease liabilities (includes new leases and remeasurements or modifications of existing leases) were as follows: Three Months Ended Nine Months Ended ($000) October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Operating lease assets obtained in exchange for new operating lease liabilities $ 208,767 $ 225,345 $ 395,428 $ 509,696

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Oct. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of fair values of financial instruments	The fair value of the Company’s financial instruments are as follows: ($000) October 30, 2021 January 30, 2021 October 31, 2020 Cash and cash equivalents (Level 1) $ 5,259,595 $ 4,819,293 $ 4,416,124 Restricted cash and cash equivalents (Level 1) $ 59,946 $ 134,476 $ 135,718
Schedule of fair value of assets and liabilities	The fair value measurement for funds with quoted market prices in active markets (Level 1) and for funds without quoted market prices in active markets (Level 2) are as follows: ($000) October 30, 2021 January 30, 2021 October 31, 2020 Level 1 $ 178,966 $ 159,116 $ 134,991 Level 2 — — 10,391 Total $ 178,966 $ 159,116 $ 145,382

Management Incentive Plan and_2

Management Incentive Plan and Stock-Based Compensation (Tables)	9 Months Ended
	Oct. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of stock-based compensation expense by award type	For the three and nine month periods ended October 30, 2021 and October 31, 2020, the Company recognized stock-based compensation expense as follows: Three Months Ended Nine Months Ended ($000) October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Restricted stock $ 18,841 $ 17,330 $ 53,487 $ 51,450 Performance awards 18,601 8,979 40,000 19,801 Employee stock purchase plan 1,075 1,061 3,288 3,016 Total $ 38,517 $ 27,370 $ 96,775 $ 74,267
Schedule of stock-based compensation recognized in Consolidated Statements of Operations	Total stock-based compensation expense recognized in the Company’s Condensed Consolidated Statements of Operations for the three and nine month periods ended October 30, 2021 and October 31, 2020, is as follows: Three Months Ended Nine Months Ended Statements of Operations Classification ($000) October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Cost of goods sold $ 18,594 $ 13,767 $ 48,354 $ 38,282 Selling, general and administrative 19,923 13,603 48,421 35,985 Total $ 38,517 $ 27,370 $ 96,775 $ 74,267
Schedule of restricted stock, restricted stock units, and performance share award activity	A summary of restricted stock, restricted stock units, and performance share award activity for the nine month period ended October 30, 2021, is presented below: (000, except per share data) Number of Weighted-average Unvested at January 30, 2021 4,230 $ 85.15 Awarded 1,110 121.06 Released (1,222) 75.57 Forfeited (121) 94.90 Unvested at October 30, 2021 3,997 $ 97.79

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
Earnings (Loss) Per Share (Tables)	Oct. 30, 2021
Earnings Per Share [Abstract]
Reconciliation of the number of shares (denominator) used in the basic and diluted EPS computations	The following is a reconciliation of the number of shares (denominator) used in the basic and diluted EPS computations: Three Months Ended Nine Months Ended Shares in (000s) Basic EPS Effect of Diluted Basic EPS Effect of Diluted October 30, 2021 Shares 351,071 2,010 353,081 352,308 2,169 354,477 Amount $ 1.10 $ (0.01) $ 1.09 $ 3.85 $ (0.03) $ 3.82 October 31, 2020 Shares 352,481 1,976 354,457 352,320 — 352,320 Amount $ 0.37 $ — $ 0.37 $ (0.43) $ — $ (0.43)

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Oct. 30, 2021
Debt Disclosure [Abstract]
Schedule of long-term debt	Unsecured senior debt, net of unamortized discounts and debt issuance costs, consisted of the following: ($000) October 30, 2021 January 30, 2021 October 31, 2020 6.530% Series B Senior Notes due 2021 $ 64,991 $ 64,910 $ 64,883 3.375% Senior Notes due 2024 248,697 248,365 248,256 4.600% Senior Notes due 2025 695,571 694,624 694,310 0.875% Senior Notes due 2026 494,508 493,595 493,297 4.700% Senior Notes due 2027 239,364 239,049 238,944 4.800% Senior Notes due 2030 132,388 132,262 132,220 1.875% Senior Notes due 2031 494,551 494,132 493,998 5.450% Senior Notes due 2050 146,204 146,148 146,129 Total long-term debt $ 2,516,274 $ 2,513,085 $ 2,512,037 Less: current portion 64,991 64,910 — Total due beyond one year $ 2,451,283 $ 2,448,175 $ 2,512,037
Schedule of components of interest expense and income	The table below shows the components of interest expense and income for the three and nine month periods ended October 30, 2021 and October 31, 2020: Three Months Ended Nine Months Ended ($000) October 30, 2021 October 31, 2020 October 30, 2021 October 31, 2020 Interest expense on long-term debt $ 22,227 $ 27,826 66,626 $ 66,338 Interest expense on short-term debt — 2,565 — 7,861 Other interest expense 391 2,535 1,012 3,844 Capitalized interest (3,682) (3,856) (10,511) (9,359) Interest income (192) (330) (627) (4,423) Interest expense, net $ 18,744 $ 28,740 $ 56,500 $ 64,261

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Disaggregation of Revenue) (Details)	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Disaggregation of Revenue [Line Items]
Total	100.00%	100.00%	100.00%	100.00%
Ladies
Disaggregation of Revenue [Line Items]
Total	26.00%	23.00%	26.00%	24.00%
Home Accents and Bed and Bath
Disaggregation of Revenue [Line Items]
Total	25.00%	26.00%	25.00%	26.00%
Men’s
Disaggregation of Revenue [Line Items]
Total	15.00%	15.00%	14.00%	14.00%
Accessories, Lingerie, Fine Jewelry, and Cosmetics
Disaggregation of Revenue [Line Items]
Total	13.00%	15.00%	14.00%	14.00%
Shoes
Disaggregation of Revenue [Line Items]
Total	11.00%	12.00%	12.00%	13.00%
Children’s
Disaggregation of Revenue [Line Items]
Total	10.00%	9.00%	9.00%	9.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Cash, Cash Equivalents, Restricted Cash Reconciliation) (Details) - USD ($) $ in Thousands	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020	Feb. 01, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 5,259,595	$ 4,819,293	$ 4,416,124
Restricted cash and cash equivalents included in:
Prepaid expenses and other	10,790	85,711	85,322
Other long-term assets	49,156	48,765	50,396
Total restricted cash and cash equivalents	59,946	134,476	135,718
Total cash and cash equivalents, and restricted cash and cash equivalents	$ 5,319,541	$ 4,953,769	$ 4,551,842	$ 1,411,410

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 02, 2021	Nov. 30, 2021	Aug. 31, 2021	May 31, 2021	Mar. 31, 2020	Oct. 30, 2021	Jul. 31, 2021	May 01, 2021	May 02, 2020	Oct. 30, 2021	Oct. 31, 2020
Summary of Significant Accounting Policies [Line Items]
Cash dividends declared per share (in dollars per share)	$ 0.285		$ 0.285	$ 0.285	$ 0.285	$ 0.285	$ 0.285	$ 0.285	$ 0.285
Subsequent Event
Summary of Significant Accounting Policies [Line Items]
Cash dividends declared per share (in dollars per share)		$ 0.285
Property, Plant and Equipment
Summary of Significant Accounting Policies [Line Items]
Property and equipment purchased but not yet paid										$ 14.4	$ 22.4

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Leases) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Accounting Policies [Abstract]
Operating lease assets obtained in exchange for new operating lease liabilities	$ 208,767	$ 225,345	$ 395,428	$ 509,696

Fair Value Measurements (Balanc

Fair Value Measurements (Balance Sheet Items) (Details) - Level 1 - USD ($) $ in Thousands	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents (Level 1)	$ 5,259,595	$ 4,819,293	$ 4,416,124
Restricted cash and cash equivalents (Level 1)	$ 59,946	$ 134,476	$ 135,718

Fair Value Measurements (Underl

Fair Value Measurements (Underlying Asset Value) (Details) - USD ($) $ in Thousands	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 178,966	$ 159,116	$ 145,382
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	178,966	159,116	134,991
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 0	$ 0	$ 10,391

Management Incentive Plan and_3

Management Incentive Plan and Stock-Based Compensation (Recognized Stock-Based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 38,517	$ 27,370	$ 96,775	$ 74,267
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	18,841	17,330	53,487	51,450
Performance awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	18,601	8,979	40,000	19,801
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 1,075	$ 1,061	$ 3,288	$ 3,016

Management Incentive Plan and_4

Management Incentive Plan and Stock-Based Compensation (Total Stock-Based Compensation Recognized in the Consolidated Statements of Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 38,517	$ 27,370	$ 96,775	$ 74,267
Cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	18,594	13,767	48,354	38,282
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total	$ 19,923	$ 13,603	$ 48,421	$ 35,985

Management Incentive Plan and_5

Management Incentive Plan and Stock-Based Compensation (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020	Jan. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit related to stock-based compensation	$ 8,400,000	$ 5,100,000	$ 19,400,000	$ 15,300,000
Plan participant's annual percentage ceiling for ESPP (up to, as a percentage)	10.00%		10.00%
Plan participant's annual dollar amount ceiling for ESPP			$ 25,000
Purchase price for shares under the ESPP (as a percentage)			85.00%
Discount rate under the ESPP (as a percentage)			15.00%
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury shares purchased for tax withholding and available for reissuance (in shares)	70,488	142,350	471,081	492,171
Restricted Stock, Restricted Stock Units, and Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted stock and performance shares (in shares)	3,997,000		3,997,000		4,230,000
Unamortized compensation expense	$ 193,800,000	$ 178,200,000	$ 193,800,000	$ 178,200,000
Unamortized compensation expense, remaining weighted-average period of recognition			2 years 1 month 6 days	2 years 1 month 6 days
Minimum \| Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period			3 years
Minimum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period			3 years
Minimum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period			2 years
Maximum \| Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period			5 years
Maximum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock vesting period			5 years
Maximum \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period			3 years

Management Incentive Plan and_6

Management Incentive Plan and Stock-Based Compensation (Unvested Restricted Stock, RSU, and Performance Shares Activity) (Details) - Restricted Stock, Restricted Stock Units, and Performance Shares shares in Thousands	9 Months Ended
	Oct. 30, 2021$ / sharesshares
Number of shares
Beginning balance (in shares) \| shares	4,230
Awarded (in shares) \| shares	1,110
Released (in shares) \| shares	(1,222)
Forfeited (in shares) \| shares	(121)
Ending balance (in shares) \| shares	3,997
Weighted-average grant date fair value
Beginning balance (in dollars per share) \| $ / shares	$ 85.15
Awarded (in dollars per share) \| $ / shares	121.06
Released (in dollars per share) \| $ / shares	75.57
Forfeited (in dollars per share) \| $ / shares	94.90
Ending balance (in dollars per share) \| $ / shares	$ 97.79

Earnings (Loss) Per Share (Narr

Earnings (Loss) Per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
Earnings (Loss) Per Share (Narrative) (Details) - shares	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021
Earnings Per Share [Abstract]
Weighted average shares excluded from calculation of diluted EPS (in shares)	13,200	80,600	3,000

Earnings (Loss) Per Share (Sche

Earnings (Loss) Per Share (Schedule of Basic and Diluted EPS Computations) (Details) - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Earnings Per Share [Abstract]
Basic EPS, Shares (in shares)	351,071	352,481	352,308	352,320
Basic EPS , Amount (in dollars per share)	$ 1.10	$ 0.37	$ 3.85	$ (0.43)
Effect of dilutive common stock equivalents, Shares (in shares)	2,010	1,976	2,169	0
Effect of dilutive common stock equivalents, Amount (in dollars per share)	$ (0.01)	$ 0	$ (0.03)	$ 0
Diluted EPS, Shares (in shares)	353,081	354,457	354,477	352,320
Diluted EPS, Amount (in dollars per share)	$ 1.09	$ 0.37	$ 3.82	$ (0.43)

Debt (Schedule of Short-Term an

Debt (Schedule of Short-Term and Long-Term Debt) (Details) - USD ($) $ in Thousands	Oct. 30, 2021	Jan. 30, 2021	Oct. 31, 2020	Apr. 30, 2020
Debt Instrument [Line Items]
Total long-term debt	$ 2,516,274	$ 2,513,085	$ 2,512,037
Current portion of long-term debt	64,991	64,910	0
Total due beyond one year	2,451,283	2,448,175	2,512,037
6.530% Series B Senior Notes due 2021 \| 6.530% Series B Senior Notes due 2021
Debt Instrument [Line Items]
Total long-term debt	$ 64,991	64,910	64,883
Stated interest rate (percent)	6.53%
Senior Notes \| 3.375% Senior Notes due 2024
Debt Instrument [Line Items]
Total long-term debt	$ 248,697	248,365	248,256
Stated interest rate (percent)	3.375%
Senior Notes \| 4.600% Senior Notes due 2025
Debt Instrument [Line Items]
Total long-term debt	$ 695,571	694,624	694,310
Stated interest rate (percent)	4.60%			4.60%
Senior Notes \| 0.875% Senior Notes due 2026
Debt Instrument [Line Items]
Total long-term debt	$ 494,508	493,595	$ 493,297
Stated interest rate (percent)	0.875%		0.875%
Senior Notes \| 4.700% Senior Notes due 2027
Debt Instrument [Line Items]
Total long-term debt	$ 239,364	239,049	$ 238,944
Stated interest rate (percent)	4.70%			4.70%
Senior Notes \| 4.800% Senior Notes due 2030
Debt Instrument [Line Items]
Total long-term debt	$ 132,388	132,262	132,220
Stated interest rate (percent)	4.80%			4.80%
Senior Notes \| 1.875% Senior Notes due 2031
Debt Instrument [Line Items]
Total long-term debt	$ 494,551	494,132	$ 493,998
Stated interest rate (percent)	1.875%		1.875%
Senior Notes \| 5.450% Senior Notes due 2050
Debt Instrument [Line Items]
Total long-term debt	$ 146,204	$ 146,148	$ 146,129
Stated interest rate (percent)	5.45%			5.45%

Debt (Narrative) (Details)

Debt (Narrative) (Details)	1 Months Ended				9 Months Ended
Debt (Narrative) (Details)	Oct. 31, 2020USD ($)renewal_optionnote	Apr. 30, 2020USD ($)renewal_option	Mar. 31, 2020USD ($)	Jul. 31, 2019USD ($)renewal_option	Oct. 30, 2021USD ($)note	Oct. 31, 2020USD ($)note	Jan. 30, 2021USD ($)note	May 31, 2020USD ($)
Debt Instrument [Line Items]
Loss on early extinguishment of debt					$ 0	$ 239,769,000
$800 million revolving credit facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 800,000,000	800,000,000			$ 800,000,000
Sublimit for issuance of standby letters of credit				300,000,000
Option to increase credit facility, additional amount (up to)				$ 300,000,000
Number of renewal options \| renewal_option				2
Renewal option, term				1 year
Proceeds from borrowings			$ 800,000,000
Basis points margin over LIBOR (percent)			0.875%
Interest rate (percent)			1.76%
Repayment of revolving credit facility	$ 800,000,000
Amount outstanding under the revolving credit facility					0
Standby Letters of Credit
Debt Instrument [Line Items]
Amount outstanding under the revolving credit facility					0
Senior Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 500,000,000
Short-term debt	0					0
6.530% Series B Senior Notes due 2021 \| 6.530% Series B Senior Notes due 2021
Debt Instrument [Line Items]
Debt instrument					$ 65,000,000
Unsecured senior notes interest rate (percent)					6.53%
Senior Notes
Debt Instrument [Line Items]
Debt instrument	$ 1,000,000,000	$ 2,000,000,000				1,000,000,000
Number of tenors \| renewal_option	2	4
Proceeds from debt issuance, net of discounts and other issuance costs	$ 987,200,000	$ 1,973,000,000
Cash tender offer, principal amount, accepted for purchase	775,000,000					775,000,000
Payment for cash tender offer, principal amount	1,003,000,000
Loss on early extinguishment of debt	240,000,000
Total unamortized discount and debt issuance costs	$ 28,000,000				$ 23,700,000	$ 28,000,000	$ 26,900,000
Number of series notes \| note	8				8	8	8
Senior Notes \| Level 1
Debt Instrument [Line Items]
Unsecured senior notes estimated fair value	$ 2,800,000,000				$ 2,600,000,000	$ 2,800,000,000	$ 2,800,000,000
Senior Notes \| 3.375% Senior Notes due 2024
Debt Instrument [Line Items]
Debt instrument					$ 250,000,000
Unsecured senior notes interest rate (percent)					3.375%
Senior Notes \| 4.600% Senior Notes due 2025
Debt Instrument [Line Items]
Debt instrument		$ 700,000,000
Unsecured senior notes interest rate (percent)		4.60%			4.60%
Senior Notes \| 4.700% Senior Notes due 2027
Debt Instrument [Line Items]
Debt instrument		$ 400,000,000
Unsecured senior notes interest rate (percent)		4.70%			4.70%
Cash tender offer, principal amount, accepted for purchase	158,000,000					158,000,000
Senior Notes \| 4.800% Senior Notes due 2030
Debt Instrument [Line Items]
Debt instrument		$ 400,000,000
Unsecured senior notes interest rate (percent)		4.80%			4.80%
Cash tender offer, principal amount, accepted for purchase	266,000,000					266,000,000
Senior Notes \| 5.450% Senior Notes due 2050
Debt Instrument [Line Items]
Debt instrument		$ 500,000,000
Unsecured senior notes interest rate (percent)		5.45%			5.45%
Cash tender offer, principal amount, accepted for purchase	351,000,000					351,000,000
Senior Notes \| 0.875% Senior Notes due 2026
Debt Instrument [Line Items]
Debt instrument	$ 500,000,000					$ 500,000,000
Unsecured senior notes interest rate (percent)	0.875%				0.875%	0.875%
Senior Notes \| 1.875% Senior Notes due 2031
Debt Instrument [Line Items]
Debt instrument	$ 500,000,000					$ 500,000,000
Unsecured senior notes interest rate (percent)	1.875%				1.875%	1.875%

Debt (Interest Expense, Net) (D

Debt (Interest Expense, Net) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020
Debt Disclosure [Abstract]
Interest expense on long-term debt	$ 22,227	$ 27,826	$ 66,626	$ 66,338
Interest expense on short-term debt	0	2,565	0	7,861
Other interest expense	391	2,535	1,012	3,844
Capitalized interest	(3,682)	(3,856)	(10,511)	(9,359)
Interest income	(192)	(330)	(627)	(4,423)
Interest expense, net	$ 18,744	$ 28,740	$ 56,500	$ 64,261

Taxes on Earnings (Loss) (Narra

Taxes on Earnings (Loss) (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Oct. 30, 2021	Oct. 31, 2020	Oct. 30, 2021	Oct. 31, 2020	Jan. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate (percent)	24.00%	4.00%	24.00%	45.00%
Effective income tax rate, increase (decrease) from prior year (percent)	0.20		(0.21)
Unrecognized tax benefits	$ 76.9	$ 76.1	$ 76.9	$ 76.1	$ 67.9
Income tax penalties and interest accrued	9.8	$ 9.4	9.8	$ 9.4	$ 7.7
Impact of recognizing taxes and interest related to unrecognized tax benefits	61.4		61.4
Unrecognized tax benefits reduction resulting from conclusion of certain state tax matters or lapse of applicable statute of limitations (up to)	$ 9.5		$ 9.5