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Ross Stores, Inc. (NASDAQ: ROST) is a prominent player in the retail industry, renowned for its off-price apparel and accessories. Founded over 30 years ago, the company has evolved from a modest six-store chain into an $11 billion Fortune 500 company. The growth of Ross Stores has been remarkable, with its sales consistently outpacing traditional retailers over the past three years.
Ross Stores operates through two main retail chains: Ross Dress for Less® and DD’s Discounts®. The Ross Dress for Less® brand boasts over 1,250 stores spread across 33 states, the District of Columbia, and Guam. DD’s Discounts® complements this with more than 165 stores in 15 states. The company’s core business model revolves around procuring excess brand-name merchandise from manufacturing overruns and retail liquidations at prices significantly lower than their original retail value, often between 20%-60% off. This allows Ross Stores to offer consumers high-quality goods at reduced prices and creates a unique treasure hunt shopping experience.
The bulk of Ross Stores’ operations under its flagship, Ross Dress for Less, target middle-income consumers in densely populated suburban regions. The firm ensures a diverse array of stock-keeping units with minimal product depth, enhancing the shopping adventure. On the other hand, DD’s Discounts caters to lower-income shoppers with similarly discounted, brand-name merchandise.
Ross Stores’ strategy of cost-efficient operations and continuous expansion has underpinned its financial success. The company keeps operational costs low, passing the savings directly to customers, which has been a significant factor in maintaining its competitive edge. As of now, Ross Stores continues to open new outlets and adapt to market trends, ensuring sustainable growth and customer satisfaction.
For more information, visit the company’s official websites: www.rossstores.com and www.ddsdiscounts.com.
Ross Stores, Inc. (NASDAQ: ROST) has announced the election of Edward G. Cannizzaro to its Board of Directors, effective October 14, 2022. With over 35 years at KPMG, he brings extensive expertise in finance and compliance, having served in various leadership roles, including Global Head of Quality, Risk, and Regulatory. The company's Chairman, George Orban, expressed confidence in Cannizzaro's ability to positively influence the company and its shareholders. Ross Stores operates 1,669 retail locations across the U.S., with fiscal 2021 revenues of $18.9 billion.
Ross Stores, Inc. (NASDAQ: ROST) announced Q2 2022 earnings per share of $1.11 and net income of $385 million, compared to $1.39 and $494 million in Q2 2021. Total sales decreased to $4.6 billion from $4.8 billion, with comparable store sales down 7%. For the first half of 2022, EPS was $2.08 on $8.9 billion in sales. The company anticipates declining same-store sales for the second half and has adjusted its EPS guidance for the year to $3.84 to $4.12, down from $4.87 in 2021. CEO Barbara Rentler highlighted inflationary pressures and a promotional retail environment as key challenges.
Ross Stores, Inc. (NASDAQ: ROST) announced a quarterly cash dividend of $0.31 per share, payable on September 30, 2022 to stockholders of record as of September 6, 2022. The company reported fiscal 2021 revenues of $18.9 billion and operates 1,669 Ross locations and 311 dd’s DISCOUNTS stores across the U.S., offering significant savings on name-brand apparel and home fashions.
Ross Stores, Inc. (NASDAQ: ROST) is set to announce its second quarter 2022 earnings results on August 18, 2022, at 4:00 p.m. Eastern time. Interested parties can listen to the live conference call starting at 4:15 p.m. Eastern time on the company’s website. A recorded version will be available until August 25, 2022. In fiscal 2021, Ross reported revenues of $18.9 billion and operates the largest off-price apparel chain in the U.S., offering substantial savings of 20% to 60% off regular prices.
Ross Stores announced the opening of 29 new locations, including 21 Ross Dress for Less and 8 dd's DISCOUNTS stores across 12 states in June and July 2022. This expansion aligns with the company's plan to add around 100 new stores in fiscal 2022, comprising 75 Ross and 25 dd's DISCOUNTS. Currently, Ross operates a total of 1,980 stores across 40 states, aiming to grow to at least 2,900 Ross and 700 dd's locations over time. The company’s fiscal 2021 revenue reached $18.9 billion.
Ross Stores, Inc. (NASDAQ: ROST) reported Q1 2022 EPS of $0.97, down from $1.34 in Q1 2021, with net earnings at $338 million compared to $476 million the previous year. Sales decreased to $4.3 billion, a 4% decline, and comparable store sales fell 7%. The CEO cited external pressures, including inflation exacerbated by the Russia-Ukraine conflict. For Q2 2022, EPS is projected between $0.99 and $1.07, down from $1.39 last year, and full-year EPS is forecasted at $4.34 to $4.58, compared to $4.87 in 2021.
Ross Stores, Inc. (NASDAQ: ROST) declared a quarterly cash dividend of $0.31 per share, payable on June 30, 2022, to stockholders on record as of June 7, 2022. The company reported fiscal 2021 revenues of $18.9 billion. Operating 1,648 locations of Ross Dress for Less and 303 dd's DISCOUNTS stores across the U.S., Ross provides significant savings on name-brand apparel and home fashions, typically ranging from 20% to 60% off regular prices. The store chain continues to establish its presence as a leader in off-price retail.
Ross Stores, Inc. (NASDAQ: ROST) is set to release its first quarter 2022 earnings results on May 19, 2022, at approximately 4:00 p.m. Eastern time. An audio webcast of the earnings call will occur at 4:15 p.m. Eastern time on the same day. The company reported fiscal 2021 revenues of $18.9 billion, and operates the largest off-price apparel and home fashion chain in the United States, with substantial savings on brand-name products. Members of the public can access the earnings call via the company's website.
Ross Stores announced the opening of 22 Ross Dress for Less and eight dd's DISCOUNTS stores in February and March 2022. This expansion is part of the company's plan to add approximately 100 new stores during fiscal 2022, including 75 Ross and 25 dd's DISCOUNTS locations. Gregg McGillis, Executive VP, indicated that Ross aims for 2,900 stores and dd's DISCOUNTS for 700 stores due to rising consumer demand for value. Currently, Ross operates 1,952 locations across 40 states and Guam, with fiscal 2021 revenues of $18.9 billion.
Ross Stores reported Q4 earnings per share of $1.04 and net income of $367 million, down from $1.28 and $456 million in 2020. Sales reached $5.0 billion, with a 9% rise in comparable store sales versus 2019. For fiscal 2021, EPS was $4.87, with total sales growing 18% to $18.9 billion. The Board authorized a $1.9 billion stock repurchase and increased the quarterly dividend by 9% to $0.31. However, 2022 guidance indicates flat to 3% sales growth, with EPS projected between $4.71 and $5.12.
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