Ross Stores , Inc (Ross Stores) is an operator of discount retail stores. The company operates through off-price retail apparel and home fashion stores banners such as Ross Dress for Less and dd’s DISCOUNTS. Ross stores offer men, women, and kid’s apparel, fashion and lifestyle accessories, footwear, jewelry, fragrances, gourmet food and cookware, bed and bath products, toys, home accessories, garden decor, furniture, luggage, and sporting goods. It also provides gift cards and catalog selling services.
The company’s milestones:
1950 – Ross Department Store was first opened in San Bruno, California, by Morris “Morrie” Ross.
1958 – Ross sold his store to William Isackson to become a residential and commercial real estate developer. Isackson built the company to six stores, located in San Bruno, Pacifica, Novato, Vacaville, Redwood City, and Castro Valley.
1986 – The Company expanded rapidly and ended fiscal 1986 with total sales of $534 million and 121 stores in 16 states.
1990 – An in-depth analysis resulted in development of the proven off-price business strategies that the Company continues to implement today.
1991 – The Company’s top priority was on delivering compelling values on a wide assortment of fashions for its customers by increasing the amount of close-out purchases of nationally-recognized name brands. Product offerings expanded to include Home Accents, Bed & Bath and other non-apparel categories.
2001 – Store growth accelerated with entry into new markets in the Southeast and Mid-Atlantic.
2004 – The Company launched dd’s DISCOUNTS, which targeted customers from households with more moderate income compared to Ross customers.
2011 – Ross Dress for Less entered the Midwest region , its first major new market in almost a decade, with the initial opening of 12 stores in the greater Chicago area.
2014 – 2015 – To support future store expansion, the Company made a number of infrastructure investments, including the acquisition of its New York Buying Office property and the opening of two new distribution centers in South Carolina and California.
2018 – Based on internal research, the Company increased its long-term store target to 2,400 locations across the country for Ross Dress for Less and that dd’s DISCOUNTS can become a chain of approximately 600 stores.
2021 – Ross has 1,628 Ross Dress for Less stores in 40 states, the District of Columbia, and Guam, and 295 dd’s DISCOUNTS locations in 21 states.
According to investors.rossstores.com. Source of photos: internet
