Ross Stores plans 100 new locations for 2020
Off the back of a year of solid growth, Dublin, California-based off-price fashion retailer Ross Stores has revealed plans to open a total of approximately 100 new Ross Dress for Less and DD’s Discounts locations in 2020.
In the coming months the company intends to open 75 Ross Dress for Less and 25 DD’s Discounts locations, which will join the 19 Ross and seven DD’s Discounts stores already opened by the retailer across nine different U.S. states since the beginning of the year.
“These recent openings reflect our ongoing plans to continue building our presence in both existing and newer markets, including the Midwest for Ross, and expansion of DD's Discounts into Indiana,” explained Ross Stores EVP for property development Gregg McGillis in a release.
The company currently operates 1,831 stores across its two brands in 39 states, the District of Columbia and Guam. Ultimately it intends to expand the Ross network to 2,400 locations, while its plans for DD’s Discounts involve operating a total of 600 stores under the banner.
Earlier this month, Ross Stores reported total annual revenues of $16.0 billion in fiscal 2019, up 7% from the previous year, while full-year net income at the company totaled $1.7 billion, or $4.60 per diluted share.
In fiscal 2020, Ross Stores expects same-store sales to grow between 1% and 2%. Earnings per share are predicted to be in the range of $4.67 to $4.88.
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