ROSS STORES DONATES $400,000 TO AMERICAN RED CROSS DISASTER RELIEF IN RESPONSE TO HURRICANE HELENE

Rhea-AI Summary

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.

Positive

• Donation of $400,000 to American Red Cross Disaster Relief, demonstrating corporate social responsibility
• Customer donation initiative at 477 store locations, potentially increasing foot traffic
• Fiscal 2023 revenues of $20.4 billion
• Extensive retail presence with 1,795 Ross Dress for Less® locations and 353 dd's DISCOUNTS® stores

Negative

• None.

Insights

Corporate Social Responsibility Analyst

Ross Stores' $400,000 donation to the American Red Cross demonstrates a commendable commitment to disaster relief and community support. This action aligns with growing investor expectations for corporate social responsibility (CSR) initiatives. While the immediate financial impact is minimal for a company with $20.4 billion in annual revenue, such gestures can enhance brand reputation and customer loyalty. The additional in-store fundraising campaign across 477 locations in affected states shows a proactive approach to community engagement. From an ESG perspective, this response to Hurricane Helene positions Ross Stores favorably, potentially attracting socially conscious investors and customers. However, the overall impact on the company's financial performance or stock price is likely to be , as the donation amount is not material to the company's financials.

Retail Industry Analyst

Ross Stores' response to Hurricane Helene highlights the company's operational resilience and local market presence. With 477 stores across six affected states, the company's extensive network in the region underscores its significant market penetration. This geographical spread also implies potential short-term revenue impacts from store closures or reduced foot traffic in affected areas. However, Ross's off-price business model, offering discounts of 20% to 60% at Ross Dress for Less and 20% to 70% at dd's DISCOUNTS, positions it well to capture cost-conscious consumers during post-disaster recovery periods. The company's robust fiscal 2023 revenues of $20.4 billion and its status as an S&P 500 and Fortune 500 company indicate strong financial health, suggesting it can absorb any short-term impacts from the hurricane without significant strain.

10/04/2024 - 04:01 PM

Dublin, California, October 4, 2024 – Ross Stores, Inc. (Nasdaq: ROST) announced today that the Ross Stores Foundation is making a $400,000 cash donation to American Red Cross Disaster Relief. These funds will help provide shelter, food, emergency supplies, and services for people affected by disasters across the country, including storms, fires, and countless other crises, including Hurricane Helene. The Company is also raising additional funds specifically to help those affected by Hurricane Helene by accepting customer donations to the Red Cross from October 7^th through October 20^th at the store registers of its 412 Ross Dress for Less^® and 65 dd's DISCOUNTS^® locations across Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. Individuals can also choose to make secure online donations to the Red Cross at www.redcross.org.

Barbara Rentler, Chief Executive Officer, commented, "We are deeply saddened by the devastation left behind by Hurricane Helene and are committed to supporting our local communities where we operate, especially during times of need. Our heartfelt thoughts and condolences go out to all those who have been impacted."

About Ross Stores:
Ross Stores, Inc. is an S&P 500, Fortune 500, and Nasdaq 100 (ROST) company headquartered in Dublin, California, with fiscal 2023 revenues of $20.4 billion. The Company operates Ross Dress for Less^® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,795 locations in 43 states, the District of Columbia, and Guam as of August 3, 2024. Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day. The Company also operates 353 dd's DISCOUNTS^® stores in 22 states that feature a more moderately-priced assortment of first-quality, in-season, name brand apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 70% off moderate department and discount store regular prices every day. Additional information is available at www.rossstores.com.

Contact:	Connie Kao
	Group Vice President, Investor & Media Relations
	(925) 965-4668
	connie.kao@ros.com

/PRNewswire -- Oct. 4, 2024/

SOURCE Ross Stores, Inc.

FAQ

How much did Ross Stores (ROST) donate for Hurricane Helene relief?

Ross Stores (ROST) donated $400,000 to American Red Cross Disaster Relief in response to Hurricane Helene and other disasters.

When can customers donate to Hurricane Helene relief at Ross Stores (ROST)?

Customers can donate to Hurricane Helene relief at Ross Stores (ROST) registers from October 7th through October 20th, 2024.

How many Ross Dress for Less® stores does Ross Stores (ROST) operate as of August 3, 2024?

As of August 3, 2024, Ross Stores (ROST) operates 1,795 Ross Dress for Less® locations in 43 states, the District of Columbia, and Guam.

What were Ross Stores' (ROST) fiscal 2023 revenues?

Ross Stores (ROST) reported fiscal 2023 revenues of $20.4 billion.