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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 completed its 2024 store growth plans by opening 47 new locations across 22 states in September and October. This includes 43 Ross Dress for Less® and four dd's DISCOUNTS® stores. The company added 89 new locations throughout the year, expanding in both existing and newer markets.
Ross Dress for Less added stores in Minnesota, New York, and Pennsylvania, while also increasing its presence in sunbelt states. dd's DISCOUNTS grew its footprint in California, Florida, New Mexico, and Texas. The company now operates a total of 2,192 locations in 43 states, the District of Columbia, and Guam.
Ross Stores aims to grow to at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations over time. The company reported fiscal 2023 revenues of $20.4 billion.
Ross Stores, Inc. (Nasdaq: ROST) has announced a $400,000 donation from the Ross Stores Foundation to American Red Cross Disaster Relief in response to Hurricane Helene. The funds will support various disaster relief efforts, including shelter, food, and emergency supplies. Additionally, Ross is accepting customer donations at 477 store locations across six states from October 7th to 20th.
CEO Barbara Rentler expressed the company's commitment to supporting local communities during times of need. Ross Stores, an S&P 500, Fortune 500, and Nasdaq 100 company, reported fiscal 2023 revenues of $20.4 billion. As of August 3, 2024, the company operates 1,795 Ross Dress for Less® locations in 43 states and 353 dd's DISCOUNTS® stores in 22 states, offering discounted apparel and home fashions.
Ross Stores (NASDAQ: ROST) announced key merchandising leadership changes effective December 1, 2024. Karen Fleming will be promoted to President and Chief Merchandising Officer of Ross Dress for Less, while Karen Sykes will become President and Chief Merchandising Officer of dd's DISCOUNTS. Both executives will report directly to CEO Barbara Rentler.
Fleming, currently leading dd's DISCOUNTS, brings over two decades of experience within the company. Sykes, with three decades at Ross, moves from her role as Executive VP of Merchandising for Men's and Children's at Ross Dress for Less. These promotions aim to strengthen Ross Stores' off-price strategies and drive profitable market share growth.
Ross Stores, an S&P 500 and Fortune 500 company, reported fiscal 2023 revenues of $20.4 billion. The company operates 1,795 Ross Dress for Less locations and 353 dd's DISCOUNTS stores across the United States.
Ross Stores (ROST) reported strong Q2 2024 results, with earnings per share of $1.59 on net income of $527 million, up from $1.32 EPS in Q2 2023. Total sales increased 7% to $5.3 billion, with comparable store sales up 4%. For the first half of 2024, EPS was $3.05 on net income of $1.0 billion, with sales growing to $10.1 billion. The company's operating margin improved by 115 basis points to 12.5%.
Ross Stores provided guidance for the second half of 2024, projecting comparable sales growth of 2% to 3% for both Q3 and Q4. The company updated its full-year 2024 EPS guidance to a range of $6.00 to $6.13, compared to $5.56 in 2023. Management remains cautious due to persistent economic pressures on their low-to-moderate income customers and challenging year-over-year comparisons.
Ross Stores (NASDAQ: ROST) has declared a quarterly cash dividend of $0.3675 per common share, payable on September 30, 2024 to stockholders of record as of September 10, 2024. The company, an S&P 500, Fortune 500, and Nasdaq 100 member, reported fiscal 2023 revenues of $20.4 billion. Ross operates 1,795 Ross Dress for Less® locations in 43 states, offering name brand and designer items at 20% to 60% off regular prices. Additionally, Ross runs 353 dd's DISCOUNTS® stores in 22 states, providing moderately-priced assortments at 20% to 70% savings.
Ross Stores (NASDAQ: ROST) has announced its plans to release second quarter 2024 earnings results on Thursday, August 22, 2024 at approximately 4:00 p.m. Eastern time. A real-time audio webcast of the conference call will be available at 4:15 p.m. Eastern time on the same day. Investors can access the webcast through the company's website at www.rossstores.com. A recorded version will also be available online and via telephone until August 29, 2024.
Ross Stores, an S&P 500, Fortune 500, and Nasdaq 100 company, reported fiscal 2023 revenues of $20.4 billion. The company operates 1,795 Ross Dress for Less® locations across 43 states, offering name brand apparel and home fashions at 20% to 60% off regular prices. Additionally, Ross operates 353 dd's DISCOUNTS® stores in 22 states, providing similar products at 20% to 70% off regular prices.
Ross Stores (NASDAQ: ROST) has expanded its retail footprint with the opening of 24 new locations across 17 states in June and July 2024. This expansion includes 21 Ross Dress for Less® and three dd's DISCOUNTS® stores, aligning with the company's fiscal 2024 plan to add approximately 90 new stores. The expansion strengthens Ross's presence in existing markets and extends into newer territories such as Michigan, Minnesota, and New York.
Richard Lietz, Executive VP of Property Development, expressed confidence in the company's long-term growth strategy, aiming to reach at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations. Currently, Ross Stores operates a total of 2,148 stores across 43 states, DC, and Guam, with fiscal 2023 revenues of $20.4 billion.
Ross Dress for Less is set to open a new store in Athens, Alabama, on July 20, 2024. The 18,000 square foot store will be located in the Athens Marketplace Shopping Center. This expansion is part of Ross Stores, which operates over 2,100 off-price apparel and home fashion stores in 43 states, the District of Columbia, and Guam. Ross Stores reported fiscal 2023 revenues of $20.4 billion. As a leading off-price retailer, Ross offers significant savings on brand-name apparel and home goods. The company also runs dd's DISCOUNTS, offering moderately-priced merchandise with discounts up to 70% off regular prices.
Ross Stores (NASDAQ: ROST) reported its first quarter earnings for the 13 weeks ending May 4, 2024, with earnings per share (EPS) of $1.46 and net earnings of $488 million. This marks a significant increase compared to the previous year's EPS of $1.09 and net income of $371 million. The company's sales grew by 8% to $4.9 billion, and comparable sales rose by 3%.
The operating margin improved to 12.2%, up from 10.1% in the last year's first quarter, attributed to lower distribution, incentive, and freight costs. Ross Stores repurchased 1.9 million shares for $262 million under a new $2.1 billion buyback authorization approved in March 2024.
Looking ahead, Ross Stores forecasts comparable store sales to rise 2% to 3% for the second quarter ending August 3, 2024, with EPS projected to be between $1.43 to $1.49. For fiscal 2024, EPS is expected to range from $5.79 to $5.98, up from $5.56 in fiscal 2023.
Ross Stores (NASDAQ: ROST) announced a regular quarterly cash dividend of $0.3675 per common share, payable on June 28, 2024, to stockholders of record as of June 11, 2024.
Ross Stores operates the largest off-price apparel and home fashion chain in the U.S. with 1,775 Ross Dress for Less locations and 352 dd’s DISCOUNTS stores. The company reported fiscal 2023 revenues of $20.4 billion. Ross offers name brand and designer products at discounts of 20% to 70% off regular prices.
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