Ross Stores Completes 2019 Store Growth Plans

Ross Stores said this week that is has opened 30 new Ross Dress for Less and 12 dd's DISCOUNTS stores across 19 different states in September and October, completing the company's store growth plans for fiscal 2019 with the addition of 98 new stores. The 42 locations added this fall include nine stores in the company's newer Midwest markets of Illinois, Indiana, Kentucky, Nebraska, and Ohio. In addition, dd's DISCOUNTS entered the state of Virginia with the opening of one new store and now operates in 19 states. Together, Ross Dress for Less and dd's DISCOUNTS currently operate 1,811 off-price apparel and home fashion stores in 39 states, the District of Columbia, and Guam.

"This fall, we continued to expand our Ross and dd's footprints across our existing markets as well as expansion in our newer market, the Midwest," said Jim Fassio, president and chief development officer. "Looking ahead, we remain confident in our ability to grow to 2,400 Ross Dress for Less and 600 dd's DISCOUNTS locations over time."

Total Retail's Take: Finally, some good retail news.The fact that Ross Stores has fulfilled its store growth goals is certainly something to celebrate. Unfortunately, news like this is more the exception than the rule today. Earlier this year, Ross Stores announced that its second-quarter earnings and sales exceeded Wall Street expectations. The off-price retailer reported net earnings of $412.72 million compared with $389.4 million in in the year-ago period. Furthermore, sales rose 6 percent to $4.0 billion. Analysts had expected $3.96 billion. The company also opened seven stores in the quarter. However, in the same earning announcement, Ross Stores narrowed its full-year earnings guidance on tariff concerns. “We believe the additional tariffs may result in increased uncertainty in the apparel and footwear market,” said Barbara Rentler, CEO, Ross Stores. “Historically, disruptions like this have benefited off-price. As always, our focus will continue to be offering our customers the most compelling values possible throughout our stores.”