5 Trillion Won Vanished in a Day: Is the U.S. Off-Price Leader Cooling Down?

Ross Stores Inc. (Nasdaq: ROST) closed at $215.13 on the 25th, down 5.89% on the Nasdaq, wiping out about $3.8 billion (roughly ₩5 trillion) in market value in a single day. Its current market capitalization stands at approximately $69 billion (about ₩97 trillion).

That closing price is seen as a pause for consolidation from recent highs, with around 3.36 million shares traded.

The company is pursuing an aggressive expansion strategy, having opened 17 new stores across the U.S. in March and announcing plans to open about 110 more locations in 2026.

In its first-quarter results released in May, Ross Stores reported earnings per share of $2.02 and revenue of $6.0 billion, both ahead of market expectations. Some analysts maintain “buy” ratings and have set target prices near $240, highlighting further growth potential.

Headquartered in Dublin, California, Ross Stores is the largest off-price retailer in the U.S., selling apparel and home goods at discount prices through its Ross Dress for Less and dd’s DISCOUNTS brands. The company is a constituent of both the Nasdaq 100 and the S&P 500.

Following former CEO and board chair Barbara Rentler, the company is in the process of appointing new board leadership. Market observers are watching closely to see how this transition will impact its store expansion and shareholder-return strategies.