Jul 25, 2019
Ross Stores opens 28 new stores this summer
Jul 25, 2019
Ross Stores Inc. announced that it has opened 22 Ross Dress for Less (Ross) and six DD's Discounts stores across ten different states in June and July.
According to a press release, the new stores are part of the company's plans to open approximately 100 stores in 2019, consisting of 75 Ross stores and 25 DD’s Discounts.
"These recent openings reflect our ongoing strategy of targeting growth in both established regions and newer markets,” said Jim Fassio, president and chief development officer.
“The 28 locations we added this summer include five stores in our newer Midwest markets of Illinois, Indiana, Kentucky, and Missouri.”
The company also said that it opened two new stores in Ohio, marking the company’s first stores in the state. The company now operates 1,772 stores in 39 states, the District of Columbia, and Guam.
“We remain confident in our ability to grow to 2,400 Ross Dress for Less and 600 DD's Discounts locations over time,” Fassio said.
The new openings follow the company’s announcement of a positive first quarter for 2019, reporting quarterly net earnings of $421 million compared to $418 million in the year prior.
First-quarter sales increased by 6 percent to $3.8 billion, on the back of strong men's sales, while comparable sales increased by 2%, thanks to an increase in the size of the average basket.
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