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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 promotion of Adam Orvos to Executive Vice President and Chief Financial Officer, effective October 1, 2021. Orvos, who joined the company in January 2021, brings over 34 years of retail management experience, having previously served as CFO for several major retailers. CEO Barbara Rentler expressed confidence in Orvos's leadership, citing his extensive financial management and operational expertise as vital for the company's future. Ross Stores reported $12.5 billion in fiscal 2020 revenues and operates numerous Ross Dress for Less and dd’s DISCOUNTS locations.
Ross Stores, Inc. (NASDAQ: ROST) reported Q2 2021 earnings per share of $1.39, a 22% increase from $1.14 in 2019, driven by net income of $494 million. Sales rose 21% to $4.8 billion, with comparable store sales up 15%. For the first half of 2021, EPS was $2.73, up from $2.29, as sales reached $9.3 billion. The company forecasts Q3 same store sales growth of 5% to 7% and updated FY 2021 EPS guidance to $4.20 to $4.38. CEO Barbara Rentler highlighted uncertainties from COVID variants and supply chain issues impacting future performance.
Ross Stores, Inc. (NASDAQ: ROST) declared a quarterly cash dividend of $0.285 per share, payable on September 30, 2021 to stockholders of record as of September 7, 2021. The company, a member of the S&P 500 and Fortune 500, reported fiscal 2020 revenues of $12.5 billion. Ross operates 1,611 Ross Dress for Less locations and 285 dd's DISCOUNTS stores, offering significant savings on name-brand apparel and home fashions, typically at discounts of 20% to 70% off regular prices.
Ross Stores, Inc. (NASDAQ: ROST) is set to unveil its second quarter 2021 earnings results on August 19, 2021, at approximately 4:00 p.m. Eastern time. Following the earnings release, the company will conduct a conference call at 4:15 p.m. Eastern time to discuss the results. Investors can access a real-time audio webcast of the call on the company’s website. A recorded version will be available afterward, along with a telephone recording until August 26, 2021.
Ross Stores opened 30 new locations, including 22 Ross Dress for Less and 8 dd's DISCOUNTS stores, across 11 states in June and July 2021. This expansion is part of their plan to add approximately 60 new stores in fiscal 2021. The company aims to grow to 2,400 Ross and 600 dd's DISCOUNTS locations long-term. Currently, Ross operates 1,896 locations in 40 states, generating fiscal 2020 revenues of $12.5 billion. The brand emphasizes significant savings of 20% to 70% off regular prices.
Ross Stores, Inc. (NASDAQ: ROST) announced the immediate resignation of Travis Marquette, CFO since 2019, who is leaving for another company. During the transition, senior Finance executives will report to Michael Hartshorn, Group President and COO, until new leadership is appointed. CEO Barbara Rentler expressed gratitude for Marquette's contributions and confidence in the existing Finance team to continue driving profitable growth. Ross operates 1,589 Ross Dress for Less® locations and 285 dd’s DISCOUNTS® stores, offering significant savings on in-season, name-brand products.
Ross Stores (NASDAQ: ROST) reported a 17% increase in earnings per share to $1.34 for the 13 weeks ending May 1, 2021, with net income of $476 million, compared to $421 million in the same period of 2019. Sales reached $4.5 billion, driven by a 13% rise in comparable store sales. The company announced a $1.5 billion stock repurchase program, allocating $650 million for 2021. Looking ahead, ROST forecasts a 5% to 7% increase in same-store sales for the 13 weeks ending July 31, 2021, and expects EPS between $0.80 and $0.89, reflecting ongoing cost pressures.
Ross Stores, Inc. (NASDAQ: ROST) declared a quarterly cash dividend of $0.285 per common share, payable on June 30, 2021, to stockholders of record as of June 8, 2021.
With fiscal 2020 revenues of $12.5 billion, Ross operates the largest off-price apparel and home fashion chain in the U.S., with 1,589 locations. The Company also runs 277 dd’s DISCOUNTS stores, offering significant savings on first-quality, in-season products.
Ross Stores, Inc. (NASDAQ: ROST) will announce its Q1 2021 earnings on May 20, 2021, at approximately 4:00 p.m. Eastern time. A conference call will follow at 4:15 p.m. Eastern time to discuss the results. Investors can access the audio webcast via the company's website. A recording will be available until May 27, 2021, at 8:00 p.m. Eastern time via the website and telephone at 404-537-3406.
Ross Stores, Inc. (NASDAQ: ROST) has announced leadership changes in its Board of Directors that will take effect after the Annual Stockholders Meeting on May 19, 2021. George Orban is set to be appointed as Chairman, while Barbara Rentler will become Vice Chair. Michael Hartshorn has been elected to the Board as of March 10, 2021. Current Chairman Michael Balmuth and Chairman Emeritus Norman Ferber will not seek re-election but will continue as senior advisors. These leadership shifts are expected to leverage extensive retail experience for the benefit of stockholders.
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