Ross Stores to open 28 new locations this month

By

Kate Dingwall

Published
Mar 8, 2017

Ross Stores is looking to expand, announcing a plan to open 28 new stores in February and March of 2017. Twenty-three of those stores will be full Ross stores, and five will be dd’s Discount locations. 

Jim Fassio, President and Chief Development Officer of Ross said to the press in a release, "These new Spring stores further strengthen our presence in the Midwest, which accounts for approximately one-quarter of these openings, and includes initial entry into our newest state of Iowa.  We also continue to see opportunity to grow in our largest states with new locations in California, Florida and Texas. With these recent openings, we now operate a total of 1,561 Ross Dress for Less and dd's DISCOUNTS stores across 37 states, the District of Columbia, and Guam. Looking ahead, we remain confident that over time, Ross can grow to 2,000 locations and dd's DISCOUNTS can become a chain of 500 stores."

This is part of Ross’s plan to launch 70 Ross and 20 dd’s Discount locations over the course of 2017.

Ross has seen much financial success over the last year – in Q4 of fiscal 2016, Ross achieved a 14% increase. Sales for the fiscal year posted a steady rise of 9%. Moving on this potential, Ross Stores has announced a two-year stock repurchase program worth $1.75 billion.