Ross defines off-price success
The big off-price retailer is opening stores and growing sales at a time when many retailers are doing neither.
The off-price retailer opened 22 Ross Dress for Less and eight dd's DISCOUNTS stores across 12 different states and Washington, D.C., in June and July. These 30 new locations are part of the company's plans to add approximately 100 stores in 2018, with 75 Ross and 25 dd's locations.
"With this opening group, we continued to expand Ross and dd's in both new and existing markets. Ross grew in its newer market – the Midwest – as well as existing markets, including California, Texas, and Florida. In June, dd's also expanded into its newest state of Delaware," said Jim Fassio, President and Chief Development Officer. "Looking ahead, we remain confident in our expansion plans and continue to see plenty of opportunity to grow across all of our markets."
Off-price stores have remained one of the bright spots in retail as commerce has increased and physical stores have struggled. While many other types of retailers, such as department stores, have been closing its doors, off-price retailers like TJ Maxx and Ross have been thriving. These companies continuously outperform other forms of retail, because they offer low-cost, high-value products.
"With these recent openings, we continued our growth in both new and existing markets. Our newest market for Ross Dress for Less is Nebraska, and for dd's DISCOUNTS, we entered Illinois with two new stores," said Jim Fassio, President and Chief Development Officer of Ross. "We now operate a total of 1,651 Ross Dress for Less and dd's DISCOUNTS locations across 38 states, the District of Columbia, and Guam. As we look out over the long-term, we remain confident that Ross can grow to 2,000 locations and dd's DISCOUNTS can become a chain of 500 stores."
Together, Ross Dress for Less and dd's DISCOUNTS currently operate 1,680 off-price apparel and home fashion stores in 38 states, the District of Columbia, and Guam.