ROSS STORES ANNOUNCES THE PASSING OF FORMER CHAIRMAN AND CEO NORMAN A. FERBER

DUBLIN, Calif., Jan. 26, 2026 /PRNewswire/ -- Ross Stores, Inc. (NASDAQ:ROST) announced today that Norman Ferber, former Chairman and Chief Executive Officer, passed away on January 23, 2026 following a brief illness. He was 77 years old.

Mr. Ferber joined Ross Stores at its inception and was instrumental in shaping the Company's strategy, operating discipline, and culture as it grew from a small six-store chain into a leading off‑price retailer. Over decades of service, he assumed increasing leadership responsibilities, serving as President, Chief Operating Officer, Chief Executive Officer, and Chairman of the Board. Following his tenure as CEO, Mr. Ferber remained deeply engaged with the Company, providing valued counsel to senior management and continuing to contribute his experience and perspective through ongoing board and advisory roles for almost 30 years.

Michael Balmuth, Executive Chairman, commented, "I spent more than three decades working closely with Norman. He was not only an exceptional merchant and business leader, but also a trusted colleague and mentor whose insight, judgment, and integrity deeply influenced me throughout my career. As a visionary leader, he helped shape Ross Stores' long‑term strategy and growth, and his perspective was invaluable to both the Company and to me personally. I benefited greatly from his wisdom and friendship, and he will be deeply missed. On behalf of our Board of Directors, management team, and Ross Associates, we extend our deepest condolences to his wife Rosine, their children, grandchildren, and extended family and friends."

Jim Conroy, Chief Executive Officer, added, "Although I had the privilege of working with Norman for only a short time, his extraordinary passion for Ross and our Associates has left an enduring legacy. I will forever be grateful for his counsel and inspired by his relentless dedication and energy. Norman left a lasting impression on our organization, and his presence will be greatly missed."

To honor Norman's deep care for Ross Associates, the Company has made a contribution to the Ross Cares Fund, helping members of the Ross community navigate difficult times. Norman's commitment to the Company also extended into the community it serves. He was especially passionate about Ross' long-standing partnership with Boys & Girls Clubs of America and devoted significant time to the Moldaw-Zaffaroni Clubhouse in East Palo Alto as a volunteer and donor. In recognition of this dedication, the Ross Stores Foundation has made a donation in his memory. The Club has also named its main Art and Academic Room in Norman's honor, where programs such as Power Hour continue the academic support he personally championed. This dedication is especially meaningful, as the Clubhouse bears the name of Ross Founder and Chairman Emeritus, Stuart Moldaw, underscoring the enduring connection between Norman's legacy, Ross Stores, and the communities Ross supports.

About Ross Stores, Inc.

Ross Stores, Inc. is an S&P 500, Fortune 500, and Nasdaq 100 (ROST) company headquartered in Dublin, California, with fiscal 2024 revenues of $21.1 billion. Currently, the Company operates Ross Dress for Less^® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,909 locations in 44 states, the District of Columbia, Guam, and Puerto Rico. Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day. The Company also operates 364 dd's DISCOUNTS^® stores in 22 states that feature a more moderately-priced assortment of first-quality, in-season, name brand apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 70% off moderate department and discount store regular prices every day. Additional information is available at www.rossstores.com.

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SOURCE Ross Stores, Inc.