ROSS STORES OPENS 19 NEW LOCATIONS

Rhea-AI Summary

Ross Stores, Inc. has opened 11 new Ross Dress for Less and 8 dd's DISCOUNTS locations across 13 states in early 2023. This expansion aligns with the company's goal to establish approximately 100 new stores this fiscal year, including 75 Ross and 25 dd's DISCOUNTS. The company currently operates 2,034 locations and aims for long-term growth to 2,900 Ross locations and 700 dd's stores. Fiscal 2022 revenues were reported at $18.7 billion, highlighting Ross as the largest off-price apparel chain in the U.S. with significant savings ranging from 20% to 70% off retail prices.

Positive

• Opened 19 new stores, increasing market presence.
• Plans to open approximately 100 new stores in fiscal 2023, demonstrating growth strategy.
• Currently operates 2,034 locations, indicating strong operational scale.
• Fiscal 2022 revenues of $18.7 billion illustrate robust financial performance.

Negative

• None.

TARGETING APPROXIMATELY 100 OPENINGS IN 2023

DUBLIN, Calif., March 6, 2023 /PRNewswire/ -- Ross Stores, Inc. opened 11 Ross Dress for Less^® ("Ross") and eight dd's DISCOUNTS^® stores in 13 different states in February and March. Both chains expanded into existing markets including locations in California, Texas, and Florida. For dd's, growth also included their first store in the state of Wisconsin. These new locations are part of the Company's plans to add approximately 100 new stores, comprised of about 75 Ross and 25 dd's DISCOUNTS, during fiscal 2023. 

"These recent openings reflect our ongoing plans to continue the expansion of our two chains," said Gregg McGillis, Group Executive Vice President, Property Development. "We now operate a total of 2,034 Ross Dress for Less and dd's DISCOUNTS locations across 40 states, the District of Columbia, and Guam. As we look out over the long term, we remain confident that Ross can grow to 2,900 locations and dd's DISCOUNTS can become a chain of 700 stores given consumers' ongoing focus on value and convenience."

Ross Stores, Inc. is an S&P 500, Fortune 500, and Nasdaq 100 (ROST) company headquartered in Dublin, California, with fiscal 2022 revenues of $18.7 billion. Currently, the Company operates Ross Dress for Less^® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,704 locations in 40 states, the District of Columbia, and Guam. 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 330 dd's DISCOUNTS^® 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

View original content:https://www.prnewswire.com/news-releases/ross-stores-opens-19-new-locations-301762644.html

SOURCE Ross Stores, Inc.

FAQ

How many new stores did Ross open in 2023?

Ross opened 19 new stores in February and March 2023.

What is Ross Stores' stock symbol?

The stock symbol for Ross Stores is ROST.

What are Ross Stores' revenue figures for 2022?

Ross Stores reported fiscal 2022 revenues of $18.7 billion.

What is the future growth target for Ross Stores locations?

Ross Stores aims to grow to 2,900 locations for Ross Dress for Less and 700 for dd's DISCOUNTS.

In which states did Ross recently expand?

Ross recently expanded in states including California, Texas, Florida, and Wisconsin.