Ross Stores Inc Positions for Significant 2020 Growth

With strong sales exceeding analyst expectations, Ross positions for 2020 growth. According to executives, the retailer plans to add 100 stores this year.

In a Q4 and Fiscal 2019 Results Announcement, “Earnings per share increased 8% to $4.60, compared to $4.26 in the prior year. Net income for the period was $1.7 billion, up from $1.6 billion last year. Sales for the 2019 year grew 7% to $16.0 billion, with same store sales up 3% on top of a 4% gain last year.”

In a press release issued by Ross, “These new locations are part of the company’s plans to add approximately 100 new stores – 75 Ross and 25 dd’s DISCOUNTS locations, during fiscal 2020.”

During the months of February and March, Ross Stores opened 19 “Ross Dress for Less” (“Ross”) and seven dd’s DISCOUNTS stores across nine states.

“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,” said Gregg McGillis, Group Executive Vice President, Property Development. “We now operate a total of 1,831 ‘Ross Dress for Less’ and dd’s DISCOUNTS locations across 39 states, the District of Columbia, and Guam. As we look out over the long-term, we remain confident that Ross can grow to 2,400 locations and dd’s DISCOUNTS can become a chain of 600 stores given consumers’ ongoing focus on value.”

According to Barbara Rentler, Ross Chief Executive Officer, “We delivered strong sales and earnings growth for both the fourth quarter and fiscal year. Our ongoing ability to offer compelling bargains to our customers enabled us to achieve these results despite our own challenging multi-year comparisons and a fiercely competitive holiday season.”

Source: CSA 3/9/20 Ross, CSA 3/4/20 Ross Sales, ROSS Investors PR 3/9/20, ROSS Investors Q4 Announcement
Photo Credits: ROSS Investors

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About Ross Stores, Inc.
Ross Stores, Inc. is an S&P 500, Fortune 500, and Nasdaq 100 (ROST) company headquartered in Dublin, California, with fiscal 2019 revenues of $16.0 billion. Currently, the company operates “Ross Dress for Less” (“Ross”), the largest off-price apparel and home fashion chain in the United States with 1,565 locations in 39 states, the District of Columbia, and Guam. Ross offers first-quality, in-season, name brand and designer apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 60% off department and specialty store regular prices every day. The company also operates 266 dd’s DISCOUNTS in 20 states that feature a more moderately-priced assortment of first-quality, in-season, name brand apparel, accessories, footwear, and home fashions for the entire family at savings of 20% to 70% off moderate department and discount store regular prices every day. Additional information is available at www.rossstores.com.