The long-term goal is to come up with 2,400 Ross Dress and 600 dd’s Discounts stores. With its recent store launches, the company is well and truly on its way to achieve its interim goal.
Ross Stores, Inc. is a California-based firm that operates dd’s Discount and Ross Dress for Less stores. It’s a Fortune 500, S&P 500, and Nasdaq 100 firm with headquarters in Dublin, California. It’s fiscal revenues were $15 billion for 2018. Currently, the company runs Ross Dress for Less, which is the United States’ biggest home fashion and apparel chain with presence in more than 1,500 locations spread across 39 states, Guam, and District of Columbia.
Ross offers in-season, high-quality, designer and name brand apparel, footwear, accessories, and home fashion goods for the whole family for savings that fall anywhere in the 20 to 60 percent range. This discount range is basically off the regular prices of specialty and department outlets. The firm also runs 249 dd’s Discounts store in various locations in 18 states. They offer a relatively moderately-priced collection of in-season, first-quality, name brand apparel, footwear, accessories, home fashions, etc.
Though departmental stores have been struggling in the recent past, the off-price market has witnessed consistent growth. And Barbara Rentler, Ross CEO, believes the company is positioned favourably to tap in as an off-price retail company, despite the competitive retail landscape, uncertain political and macro-economic environment, and the company’s own difficult earnings and sales comparisons.
With close to 1,745 stores in 38 states, the company wants to add 100 more stores to its roster in 2019. In the months February and March, the retail store added 28 stores spanning 12 different states. In June and July, 28 new stores were opened across 10 states. These fresh locations are a component of the previously announced plans of the company. Having opened two new stores, Ross entered Ohio, taking its tally of state presence to 39.
According to Jim Fassio, Ross Stores’ chief development officer and president, the latest launches are reflective of the company’s ongoing strategy to target growth in both the newer and established markets. The freshly added 28 stores include five outlets in the company’s fresher Midwest markets of Indiana, Illinois, Missouri, and Kentucky.