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10/11/2021

Ross Stores meets 2021 store growth target

Marianne Wilson
Editor-in-Chief
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Ross Store
Ross Stores opened 28 stores in September and October.

Ross Stores has completed its store growth for its current fiscal year but sees plenty of more room for expansion.

The off-pricer said Monday that it opened 18 Ross Dress for Less locations and 10 dd's Discounts locations across 15 states in September and October. With the additions, the retailer met its goal of 65 new stores in fiscal 2021.

"This fall, we continued to expand our Ross and dd's footprints across our existing markets as well as in our newer states,” said Gregg McGillis, group executive VP, property development. “In addition to openings in California, Florida, and Texas, Ross strengthened its presence. in Nebraska and Ohio while DD’s bolstered its store base in Illinois.”

Looking ahead, McGillis said the company remains confident in its expansion plans and continues to see plenty of opportunities to grow to at least 2,400 Ross Dress for Less and 600 dd's Discounts locations over time.

For its second quarter, ended July 31, Ross reported that its sales rose 21% to $4.8 billion, with a 15% comp-sale increase. But the company warned of possible risks from escalating supply chain congestion.

Headquartered in Dublin, California, Ross had revenues of $12.5 billion in fiscal 2020. It currently operates 1,629 Ross locations across 40 states, Washington, D.C., and Guam. It also operates 295 DD's Discounts stores in 21 states 

[Read More: Ross Stores CFO leaving for new post]