ROSS STORES TO OPEN 100 NEW LOCATIONS IN 2022

Rhea-AI Summary

Ross Stores announced the opening of 22 Ross Dress for Less and eight dd's DISCOUNTS stores in February and March 2022. This expansion is part of the company's plan to add approximately 100 new stores during fiscal 2022, including 75 Ross and 25 dd's DISCOUNTS locations. Gregg McGillis, Executive VP, indicated that Ross aims for 2,900 stores and dd's DISCOUNTS for 700 stores due to rising consumer demand for value. Currently, Ross operates 1,952 locations across 40 states and Guam, with fiscal 2021 revenues of $18.9 billion.

Positive

• Opening of 30 new stores indicates strong expansion strategy.
• Increased store potential targets suggest positive market conditions.
• Goal of reaching 2,900 Ross locations demonstrates long-term growth potential.

Negative

• None.

DUBLIN, Calif., March 7, 2022 /PRNewswire/ -- Ross Stores, Inc. opened 22 Ross Dress for Less^® ("Ross") and eight dd's DISCOUNTS^® stores in 15 different states and Guam in February and March. These new locations are part of the Company's plans to add approximately 100 new stores – 75 Ross and 25 dd's DISCOUNTS – during fiscal 2022. 

"We recently raised our store potential targets for both Ross and dd's DISCOUNTS. Our return to stronger unit growth in 2022 reflects our belief that Ross can ultimately grow to 2,900 locations and dd's DISCOUNTS can become a chain of 700 stores given consumers' ongoing focus on value and convenience," said Gregg McGillis, Group Executive Vice President, Property Development. "Our continued expansion of both chains also demonstrates our commitment to further building our presence in both existing and newer markets.  With these recent openings, we currently operate a combined total of 1,952 Ross Dress for Less and dd's DISCOUNTS locations in 40 states, the District of Columbia, and Guam."

Ross Stores, Inc. is an S&P 500, Fortune 500, and Nasdaq 100 (ROST) company headquartered in Dublin, California, with fiscal 2021 revenues of $18.9 billion. Currently, the Company operates Ross Dress for Less^® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,649 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 303 dd's DISCOUNTS^® in 21 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-to-open-100-new-locations-in-2022-301496184.html

SOURCE Ross Stores, Inc.

FAQ

How many new stores is Ross Stores opening in 2022?

Ross Stores plans to open approximately 100 new stores in 2022.

What is the stock symbol for Ross Stores?

The stock symbol for Ross Stores is ROST.

When did Ross Stores open new locations?

Ross Stores opened new locations in February and March 2022.

How many Ross Dress for Less locations are there currently?

Currently, there are 1,649 Ross Dress for Less locations in the U.S. and Guam.

What were Ross Stores' revenues in fiscal 2021?

Ross Stores reported revenues of $18.9 billion in fiscal 2021.