ROSS STORES OPENS 47 NEW LOCATIONS

Rhea-AI Summary

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.

Positive

• Completed 2024 store growth plans with 89 new locations added throughout the year
• Expanded presence in both existing and newer markets
• Operates a total of 2,192 locations across 43 states, DC, and Guam
• Plans to grow to at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations
• Reported fiscal 2023 revenues of $20.4 billion

Negative

• None.

Insights

Retail Expansion Analyst

Ross Stores' addition of 47 new locations, completing their 2024 store growth plans, signals a robust expansion strategy. The company's confidence in growing to at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations indicates significant long-term growth potential. This expansion, particularly into new markets like Minnesota, New York and Pennsylvania, suggests a strategic move to capture market share in diverse regions.

The company's ability to execute its growth plans amid challenging retail conditions demonstrates operational strength. With $20.4 billion in fiscal 2023 revenues, Ross's continued expansion could lead to increased market penetration and potentially higher revenues. However, investors should consider the capital expenditure required for this expansion and its impact on short-term profitability.

The off-price retail model, offering 20% to 70% savings, positions Ross well in a price-sensitive consumer environment. This expansion could enhance the company's competitive edge against both traditional retailers and e-commerce players. Overall, this news suggests a positive trajectory for Ross Stores' growth strategy and market position.

COMPLETES 2024 STORE GROWTH PLANS

DUBLIN, Calif., Oct. 21, 2024 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq: ROST) recently opened 43 Ross Dress for Less^® ("Ross") and four dd's DISCOUNTS^® stores across 22 different states in September and October. These new locations complete the Company's store growth plans for fiscal 2024, with the addition of 89 new locations throughout the year.

"This fall, we continued to expand our presence in both existing and newer markets," said Richard Lietz, Executive Vice President, Property Development. "At Ross Dress for Less, we added locations in Minnesota, New York, and Pennsylvania while also increasing our presence in the sunbelt states. At dd's, we grew our footprint in California, Florida, New Mexico, and Texas. Looking ahead, we remain confident in our expansion plans and see plenty of opportunity to grow to at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations over time."

Together, Ross Dress for Less and dd's DISCOUNTS currently operate a total of 2,192 locations in 43 states, the District of Columbia, and Guam.

About Ross Stores, Inc.
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. Currently, the Company operates Ross Dress for Less^® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,836 locations in 43 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 356 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

 

View original content:https://www.prnewswire.com/news-releases/ross-stores-opens-47-new-locations-302280897.html

SOURCE Ross Stores, Inc.

FAQ

How many new stores did Ross Stores (ROST) open in September and October 2024?

Ross Stores opened 47 new locations in September and October 2024, including 43 Ross Dress for Less and four dd's DISCOUNTS stores.

What are Ross Stores' (ROST) expansion plans for the future?

Ross Stores plans to grow to at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations over time.

How many total locations does Ross Stores (ROST) currently operate?

Ross Stores currently operates a total of 2,192 locations in 43 states, the District of Columbia, and Guam.

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

Ross Stores reported fiscal 2023 revenues of $20.4 billion.