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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.
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