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Ross Stores Continues Brick-And-Mortar Expansion With 30 New Locations

Off-price retailer Ross Stores opened eight dd’s DISCOUNTS retail locations and 22 Ross Dress for Less retail locations throughout 11 states in June and July, according to a Monday (July 19) press release.

“These recent openings reflect our ongoing commitment to expanding our two chains,” Group Executive VP, Property Development Gregg McGillis said in the release. “This summer, we expanded our presence in our largest markets of California, Florida, and Texas, and also added locations in newer states, including Illinois for dd’s as well as Ohio and West Virginia for Ross.”

As of the present moment, dd’s DISCOUNTS and Ross Dress for Less run just under 1,900 locations in 40 states, Guam and the District of Columbia. The firm intends to bring roughly 60 new stores, including 20 dd’s DISCOUNTS and 40 Ross, online in fiscal 2021.

“Looking ahead, we remain confident in our ability to grow to at least 2,400 Ross Dress for Less and 600 dd’s DISCOUNTS locations over time,” McGillis said in the release.

Ross provides “first-quality, in-season, name brand and designer” home fashions, shoes, accessories and clothing at “20 percent to 60 percent off department and specialty store regular prices,” according to the announcement.

In addition, dd’s DISCOUNTS offers “more moderately-priced assortment of first-quality, in-season, name brand” home fashions, shoes, accessories and clothing at “20 percent to 70 percent off moderate department and discount store regular prices,” according to the announcement.

In other off-price retail news, The TJX Companies posted $10.1 billion in net sales for Q1 fiscal 2022, signifying a 129 percent increase from Q1 fiscal 2021.

By contrast, the off-price retailer posted a 9 percent increase in net sales between Q1 fiscal 2020 and Q1 fiscal 2022.

The TJX Companies reported $534 million in net income for Q1 in addition to 44 cents in diluted earnings per share (EPS).

The TJX Companies added nearly 70 retail locations to its store count in the first quarter wrapping up on May 1, 2021.

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