ROSS STORES OPENS 24 NEW LOCATIONS

Rhea-AI Summary

Ross Stores (NASDAQ: ROST) has expanded its retail footprint with the opening of 24 new locations across 17 states in June and July 2024. This expansion includes 21 Ross Dress for Less® and three dd's DISCOUNTS® stores, aligning with the company's fiscal 2024 plan to add approximately 90 new stores. The expansion strengthens Ross's presence in existing markets and extends into newer territories such as Michigan, Minnesota, and New York.

Richard Lietz, Executive VP of Property Development, expressed confidence in the company's long-term growth strategy, aiming to reach at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations. Currently, Ross Stores operates a total of 2,148 stores across 43 states, DC, and Guam, with fiscal 2023 revenues of $20.4 billion.

Positive

• Opened 24 new stores across 17 states, expanding market presence
• On track to add approximately 90 new stores in fiscal 2024
• Expanded into new markets: Michigan, Minnesota, and New York
• Long-term growth plan to reach at least 2,900 Ross and 700 dd's locations
• Fiscal 2023 revenues of $20.4 billion

Negative

• None.

News Market Reaction – ROST

+0.99%

1 alert

+0.99% News Effect

On the day this news was published, ROST gained 0.99%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

DUBLIN, Calif., July 22, 2024 /PRNewswire/ -- Ross Stores recently opened 21 Ross Dress for Less^® ("Ross") and three dd's DISCOUNTS^® stores across 17 different states in June and July. These new locations are part of the Company's plans to add approximately 90 new stores, comprised of about 75 Ross and 15 dd's DISCOUNTS locations, during fiscal 2024. 

"These recent openings reflect our ongoing plans to continue building our presence in both existing and newer markets," said Richard Lietz, Executive Vice President, Property Development. "This summer, Ross expanded its footprint in several existing markets and added locations in Michigan, Minnesota, and New York, states we entered last year, while dd's also expanded its presence in Colorado, Pennsylvania, and Texas. Looking ahead, we remain confident in our ability to grow to at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations over time."

Together, Ross Dress for Less and dd's DISCOUNTS currently operate a total of 2,148 locations in 43 states, the District of Columbia, and Guam.

About Ross Stores, Inc. 
Ross Stores, Inc. is an S&P 500, Fortune 500, and Nasdaq 100 (ROST) company headquartered in Dublin, California, with fiscal 2023 revenues of $20.4 billion. Currently, the Company operates Ross Dress for Less^® ("Ross"), the largest off-price apparel and home fashion chain in the United States with 1,795 locations in 43 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 353 dd's DISCOUNTS^® stores in 22 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-opens-24-new-locations-302201990.html

SOURCE Ross Stores, Inc.

FAQ

How many new stores did Ross Stores (ROST) open in June and July 2024?

Ross Stores opened 24 new locations in June and July 2024, consisting of 21 Ross Dress for Less® and three dd's DISCOUNTS® stores across 17 different states.

What is Ross Stores' (ROST) expansion plan for fiscal 2024?

Ross Stores plans to add approximately 90 new stores in fiscal 2024, comprising about 75 Ross Dress for Less and 15 dd's DISCOUNTS locations.

Which new states did Ross Stores (ROST) expand into recently?

Ross Stores expanded into Michigan, Minnesota, and New York, states they entered in the previous year.

What is Ross Stores' (ROST) long-term growth target for store locations?

Ross Stores aims to grow to at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations over time.

How many stores does Ross Stores (ROST) currently operate?

As of July 2024, Ross Stores operates a total of 2,148 locations across 43 states, the District of Columbia, and Guam.