Ross opens 27 new stores in July

There is always a market for the value driven shopper, and Ross certainly knows how to take advantage of that market. The discount retail chain opened an impressive 27 stores in July as part of their 90 store expansion plan for 2015. Ross Stores Inc. opened 19 Dress for Less units and 8 DD's Discounts stores in 15 states.

Their 2015 expansion plan calls for a total of 20 DD's Discount stores and 70 Ross Dress for Less stores. On the heels of the news that Ross Stores Inc. was doing so well, shares for their company rose to 52 dollars and 81 cents. Chief Development Officer and President of Ross Stores Inc. Jim Fassio was quoted saying to WWD that the "openings reflect our ongoing strategy of targeting growth in both established regions and newer markets that we began to enter in 2011.

Ross on track with 2015 expansion plan

Ross's new markets include Kansas, Illinois, Kentucky, and Indiana. “Looking ahead, we continue to see significant expansion opportunities throughout the country, and remain confident that Ross Dress for Less can grow to 2,000 locations and DD’s Discounts can become a chain of 500 stores,” Fassio elaborated. Ross does an impressive 11 billion dollars in sales, delivering consistent sales and earnings every quarter.

The retailer's model and key to success is setting their price points 20 to 60 percent below what is offered at usual retail chains. While more mid-price range department stores like Macy's are cutting back on growth, discount retailers like Ross are beginning to see serious growth. Discount retailers are certainly flourishing as shoppers are becoming more budget conscious.