What's Happening?
Ross Stores has announced the opening of 36 new Ross Dress for Less and four dd's DISCOUNTS stores across 17 states during September and October. This expansion is part of the company's plan to open 90 new locations in 2025. Richard Lietz, Executive Vice
President of Property Development, stated that the company is strengthening its brand presence by opening stores in existing markets and expanding into new ones. The new locations include states in the Midwest, Northeast, and sunbelt regions, with a focus on enhancing their footprint in core markets like California and Texas. With these additions, Ross Stores now operates a total of 2,273 Ross Dress for Less and DD's Discounts stores across 44 states, the District of Columbia, Guam, and Puerto Rico.
Why It's Important?
The expansion of Ross Stores is significant for the retail industry as it highlights the company's growth strategy and confidence in the off-price retail market. By increasing its presence in various regions, Ross is likely to capture a larger market share and cater to a broader customer base. This move could also stimulate local economies by creating jobs and increasing consumer spending in the areas where new stores are opened. Additionally, the expansion reflects the ongoing demand for affordable, name-brand apparel and home fashion, which Ross Dress for Less and dd's DISCOUNTS are known for providing.
What's Next?
Ross Stores plans to continue its expansion strategy, with a long-term goal of growing to at least 2,900 Ross Dress for Less and 700 dd's DISCOUNTS locations. This suggests that the company will likely continue to identify and enter new markets while strengthening its presence in existing ones. The retail industry and local communities will be watching closely to see how these new stores perform and whether Ross can sustain its growth momentum in a competitive retail environment.
