- Kristopher Fraser |
Ross Stores has announced the recent opening of 21 Ross Dress for Less and seven dd's Discounts stores across 15 different states in June and July. These new locations are part of the company's plan to add approximately 70 Ross and 20 dd's locations in 2017.
"With this opening group, we continued to expand Ross and dd's in both new and existing markets. Ross grew in its newest market – the Midwest – as well as existing markets, including California, Texas and Florida. And in June, dd's opened its 200th location and expanded into its newest state of Pennsylvania," said Jim Fassio, president and chief development officer. "Looking ahead, we remain confident in our expansion plans and continue to see plenty of opportunity to grow across all of our markets. We continue to believe that over the long-term, Ross can grow to 2,000 locations and dd's can become a chain of 500 stores."
Discount chain Ross continues expansion
Ross Stores, Inc. is an S&P 500, Fortune 500 and Nasdaq 100 company headquartered in Dublin, California, with fiscal 2016 revenues of 12.9 billion dollars. Currently, the Company operates Ross Dress for Less, the largest off-price apparel and home fashion chain in the United States with 1,384 locations in 37 states, the District of Columbia and Guam. They offer first-quality, in-season, name brand and designer apparel, accessories, footwear and home fashions for the entire family at savings of 20 percent to 60 percent off department and specialty store regular prices every day. The Company also currently operates 205 dd's Discounts in 16 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 percent to 70 percent off moderate department and discount store regular prices.
In an era of consumers opting for either luxury goods or fast-fashion and discount chains, Ross is in a good place for expansion. While most retailers and department stores have been struggling and shuttering stores, discount apparel retailers have seen growth as consumer shopping habits shift. Outlet and discount chains are now considered a bright spot in a struggling retail industry according to Buxton. While development of most full-priced malls has come to a halt, outlet and discount stores could see about 25 percent growth.
Photo: via Ross Dress for Less Facebook page