This memo documents, in summary, the findings of my analysis. Please see the details attached in the Excel Spreadsheets. I was hired to perform the following:

1. Rate of Change Analysis
2. Common Size Analysis
3. Ratio Analysis

The rate of change analysis revealed - - --

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
Jan. 28, 2023	Jan. 29, 2022	Dollar Change	% change
Income Statement [Abstract]
Sales	$ 18,695,829	$ 18,916,244	$ 220,415	1.17%
Costs and Expenses
Cost of goods sold	13,946,230	13,708,907	$ (237,323)	-1.73%
Selling, general and administrative	2,759,268	2,874,469	$ 115,201	4.01%
Interest expense, net	2,842	74,328	$ 71,486	96.18%
Total costs and expenses	16,708,340	16,657,704	$ (50,636)	-0.30%
Earnings before taxes	1,987,489	2,258,540	$ 271,051	12.00%
Provision for taxes on earnings	475,448	535,951	$ 60,503	11.29%
Net earnings	$ 1,512,041	$ 1,722,589	$ 210,548	12.22%
Earnings per share
Basic (in dollars per share)	$ 4.40	$ 4.90	$ 0.50	10.20%
Diluted (in dollars per share)	$ 4.38	$ 4.87	$ 0.49	10.06%
Weighted-average shares outstanding (000)
Basic (in shares)	343,452	351,496	$ 8,044	2.29%
Diluted (in shares)	345,222	353,734	$ 8,512	2.41%

The common size Analysis revealed - - -

The ratio analysis revealed - -

Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 28, 2023	Jan. 29, 2022
Current Assets				Dollar Change
Cash and cash equivalents	$ 4,551,876	$ 4,922,365		$ (370,489)	-7.5%
Accounts receivable	145,694	119,247		$ 26,447	22.2%
Merchandise inventory	2,023,495	2,262,273		$ (238,778)	-10.6%
Prepaid expenses and other	183,654	169,291		$ 14,363	8.5%
Total current assets	6,904,719	7,473,176		$ (568,457)	-7.6%
Property and Equipment
Land and buildings	1,495,006	1,240,246		$ 254,760	20.5%
Fixtures and equipment	3,961,733	3,425,762		$ 535,971	15.6%
Leasehold improvements	1,433,647	1,332,687		$ 100,960	7.6%
Construction-in-progress	319,319	574,333		$ (255,014)	-44.4%
Property and equipment, gross	7,209,705	6,573,028		$ 636,677	9.7%
Less accumulated depreciation and amortization	4,028,178	3,674,501		$ 353,677	9.6%
Property and equipment, net	3,181,527	2,898,527		$ 283,000	9.8%
Operating lease assets	3,098,134	3,027,272		$ 70,862	2.3%
Other long-term assets	232,083	241,281		$ (9,198)	-3.8%

Current Ratios
					2023			2022
Current Assets				6,904,719	=	1.90	7,473,176	=
Current Liabilities				3,636,246	4,214,929
Total Asset Turnover
			2023		2022
Total Revenues		$ 18,695,829	1.38	7,473,176	0.55
Average Total Assets		13,528,359.50		13,528,359.50
Assets 2023	13,416,463
Assets 2022	13,640,256
	27,056,719
	divided by
	2
Average Total Assets	13,528,359.50
Working Capital
					2023			2022
Current Assets - Current Liabilities
				Current Assets	6,904,719			7,473,176
				Less: Current Liabilities	3,636,246			4,214,929
				Working Capital	3,268,473			3,258,247
			Ross has plenty of current assets to cover current liabilities for both years.
Inventory Turnover
					2023			2022
Cost of Goods Sold					13,946,230
Average Inventory					2,142,884
Inventory Turnover					6.51
Inventory 2023	2,023,495
Inventory 2022	2,262,273
	4,285,768	divided by	2	2,142,884
Inventory Turnover in Days	=	365 days		365	=	56.08
			Inventory Turnover	6.51
Inventory Turnover in Days =	56.08
Ross marks down their products to promote a faster turner over rate. Customers get an already marked down item for an even lower price which helps keep the merchandise fresh and in season.