Ross Stores (ROST) Expands Its Reach With 51 New Locations
Ross Stores, Inc. ROST has expanded its store base with the opening of 43 Ross Dress for Less stores and eight dd's DISCOUNTS stores across 22 different states in September and October. This marked the successful realization of the company's store growth plans for fiscal 2023.
The store expansion was not confined to existing markets. Ross Dress for Less made its debut in New York and Minnesota, signifying the company's intention to reach new customer bases. Then again, dd's DISCOUNTS expanded its presence in California, Maryland, Tennessee and Texas, further solidifying its footprint in these areas.
Looking ahead, Ross Stores holds an optimistic long-term view for expansion, aspiring to eventually operate at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations. This forward-thinking approach reflects the company's confidence in the sustained demand for its products.
Per the latest update, the company operates 2,112 locations, including Ross Dress for Less and dd's DISCOUNTS, across 43 states, the District of Columbia and Guam. This extensive network of stores serves a diverse range of customers, offering affordable fashion and home products.
What’s More?
The company's flagship brand, Ross Dress for Less, operates 1,765 stores across 43 states, the District of Columbia and Guam. It is renowned for providing high-quality, in-season, name-brand, and designer apparel, accessories, footwear and home fashions at substantial discounts. Shoppers can regularly find products priced 20-60% lower than those in department and specialty stores, making Ross Dress for Less a preferred choice for budget-conscious fashion enthusiasts.
Additionally, Ross Stores operates dd's DISCOUNTS, with 347 locations in 22 states. This brand offers a more budget-friendly assortment of first-quality, in-season, name-brand apparel, accessories, footwear and home fashions for the entire family. Shoppers can enjoy savings of 20-70% off moderate department and discount store regular prices every day, making it a suitable choice for those seeking affordability and quality.
Wrapping Up
Headquartered in Dublin, CA, Ross Stores holds a prominent place in the retail industry. Notably, the company reported revenues of $18.7 billion for fiscal 2022, underlining its financial strength and market presence. Sales for the second quarter of fiscal 2023 were $4.9 billion, up 7.7% year over year. Comparable store sales rose 5% in second-quarter fiscal 2023 against the 7% decline reported in the second quarter of 2022.
The company’s positive business momentum has been well-reflected in its share price, with the stock outperforming the industry. Shares of this company have rallied 33% in the past year compared with the industry’s growth of 5.1%.
The store expansion was not confined to existing markets. Ross Dress for Less made its debut in New York and Minnesota, signifying the company's intention to reach new customer bases. Then again, dd's DISCOUNTS expanded its presence in California, Maryland, Tennessee and Texas, further solidifying its footprint in these areas.
Looking ahead, Ross Stores holds an optimistic long-term view for expansion, aspiring to eventually operate at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations. This forward-thinking approach reflects the company's confidence in the sustained demand for its products.
Per the latest update, the company operates 2,112 locations, including Ross Dress for Less and dd's DISCOUNTS, across 43 states, the District of Columbia and Guam. This extensive network of stores serves a diverse range of customers, offering affordable fashion and home products.
What’s More?
The company's flagship brand, Ross Dress for Less, operates 1,765 stores across 43 states, the District of Columbia and Guam. It is renowned for providing high-quality, in-season, name-brand, and designer apparel, accessories, footwear and home fashions at substantial discounts. Shoppers can regularly find products priced 20-60% lower than those in department and specialty stores, making Ross Dress for Less a preferred choice for budget-conscious fashion enthusiasts.
Additionally, Ross Stores operates dd's DISCOUNTS, with 347 locations in 22 states. This brand offers a more budget-friendly assortment of first-quality, in-season, name-brand apparel, accessories, footwear and home fashions for the entire family. Shoppers can enjoy savings of 20-70% off moderate department and discount store regular prices every day, making it a suitable choice for those seeking affordability and quality.
Wrapping Up
Headquartered in Dublin, CA, Ross Stores holds a prominent place in the retail industry. Notably, the company reported revenues of $18.7 billion for fiscal 2022, underlining its financial strength and market presence. Sales for the second quarter of fiscal 2023 were $4.9 billion, up 7.7% year over year. Comparable store sales rose 5% in second-quarter fiscal 2023 against the 7% decline reported in the second quarter of 2022.
The company’s positive business momentum has been well-reflected in its share price, with the stock outperforming the industry. Shares of this company have rallied 33% in the past year compared with the industry’s growth of 5.1%.
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