Ross moves forward with retail plans
Mar 9, 2017
Amidst a struggling retail climate, one business is turning to expansion rather than downsizing. Discount retailer Ross Stores just opened up 28 new locations including both Ross Dress for Less and dd’s Discounts locations.
Spreading across 15 different states in the U.S., the company has opened 23 Ross Dress for Less stores and five of its sister discount stores. These stores were opened within the last two months as part of the company’s retail plans for 2017. "These new Spring stores further strengthen our presence in the Midwest, which accounts for approximately one-quarter of these openings, and includes initial entry into our newest state of Iowa,” Jim Fassio, President and Chief Development Officer of the company, said in a statement. “We also continue to see opportunity to grow in our largest states with new locations in California, Florida and Texas.” Over time, the company is planning to grow to approximately 2,000 locations for Ross as well as expand dd’s Discounts into a chain of 500 stores.
Ross is known for its off-price designer apparel, footwear, and accessories. The California-based retailer currently operates approximately 1,561 Ross Dress for Less and dd’s Discounts stores across the U.S. including the District of Columbia and Guam. Although many retailers have recently either announced bankruptcy or a mass shuttering of stores, it seems the economy has not affected Ross’ business as drastically. The company’s fiscal revenues for 2016 rang in approximately 12.9 billion dollars. In the future, Ross plans to continue to expand in 2017 with a strong retail presence.