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About Ross Stores, Inc.

Ross wants you to dress for less. An off-price apparel retailer (along with TJX Cos. and Kohl's) and home fashion chain, Ross operates more than 1,545 Ross Dress for Less and nearly 260 dd's Discounts stores that sell closeout merchandise, including men's, women's, and children's clothing, at prices well below those of department and specialty stores. While apparel accounts for more than half of sales, the company also sells small furnishings, home accents, bed and bath, beauty, toys and games, luggage, gourmet food, cookware and accessories. Featuring the Ross "Dress for Less" trademark, the chain targets 18- to 54-year-old white-collar shoppers from primarily middle-income households. Ross and dd's stores are located in strip malls in about 60 states and mostly in the western US and Guam.

Operations

Ross Stores operates two brands of off-price retail apparel and home fashion stores: Ross Dress for Less and dd's DISCOUNTS. Ross does a roaring trade in off-price apparel and home fashion chain, offering first-quality, in-season, name-brand, and designer apparel, as well as accessories, footwear, and home decor at between 20%-60% off department and specialty store regular prices.

dd's DISCOUNTS offers brand-name apparel at a 20%-70% discount.

The company generates a little over a quarter of its revenue from its Ladies' products. Home Accents and Bed & Bath products combined account for another 25%. Men's apparel, accessories, lingerie, fine jewelry and fragrances, and shoes collectively generate 40% of the company's revenue. The rest is generated from children's apparel.

Ross Stores has one reportable segment. The Company's operations include only activities related to off-price retailing in stores throughout the United States.

Geographic Reach

Almost half of California-based Ross' stores are located in the states of California, Texas, and Florida. The company's distribution centers and warehouses are in Pennsylvania, South Carolina, California and Texas. Aside from the territory of Guam, Ross does not have an international presence.Almost half of California-based Ross' stores are located in the states of California, Texas, and Florida. The company's distribution centers and warehouses are in Pennsylvania, South Carolina, California and Texas. Aside from the territory of Guam, Ross does not have an international presence.

dd's DISCOUNTS has about 260 locations in about 20 states are located in strip shopping centers in urban and suburban neighborhoods.

The retailer operates six distribution processing facilities: three in California, two in South Carolina, and one in Pennsylvania. These distribution centers are the sole source of its stores merchandise. Additionally, the discounter owns four and leases five other warehouse facilities for packaway storage. To distribute merchandise to stores on a regular basis, Ross Stores enlists the help of third-party cross docks. Shipments are made by contract carriers to stores between three and six times per week depending on the location.

Sales and Marketing

Ross Stores relies primarily on television as a medium to share the Ross Dress for Less value proposition with its current and potential customers. The company believes that television advertising is the most efficient and cost-effective medium while it continues to use additional channels to build brand awareness. Advertising for its dd's DISCOUNTS stores is focused on new store grand openings and on radio. The company also employs social media to communicate its brand position.

Advertising costs for fiscal 2019, 2018, and 2017 were $74 million, $79.9 million, and $76.4 million, respectively.

Financial Performance

Ross Stores' annual sales have steadily risen since 2015, thanks to rapid store expansion and steady same-store sale growth. Its net income has also risen in the same period, peaking this year at $1.7 billion.

Revenue increased to $16 billion in fiscal 2019, an almost 7% increase from the year prior, driven primarily by continued store growth. Comparable store sales also increased by a solid 3%.

Net income was $1.7 billion in 2019, an increase from $1.6 billion in 2018 primarily due to higher cost of goods sold, partially offset by lower SG&A expenses and higher interest income.

Cash provided by operating activities was $2.2 billion in 2020, while investing activities used $555 million, mostly for property and equipment. Financing activities used another $1.7 billion, mainly due to repurchase of common stock and dividends. The company ended 2020 with $1.4 billion in cash and cash equivalents.

Strategy

Ross Stores' growth strategy is based on successfully expanding their off-price model in current markets and in new geographic regions.

Ross Stores' real estate strategy in 2020 is to primarily open stores in states where they currently operate, to increase their market penetration and leverage overhead and advertising expenses as a percentage of sales in each market. The company also expect to continue store expansion in newer markets in 2020. Important considerations in evaluating a new store location in both newer and more established markets are the availability and quality of potential sites, demographic characteristics, competition, and population density of the local trade area.

The company's expansion strategy is to open additional stores based on market penetration, local demographic characteristics, competition, expected store profitability, and the ability to leverage overhead expenses. They continually evaluate opportunistic real estate acquisitions and opportunities for potential new store locations.

Company Background

Ross Stores origins date back to the 1950s when the Ross family founded the company in the San Francisco area.  In 1982, two retailing veterans, Stuart Moldaw (founder of Country Casuals and The Athletic Shoe Factory) and Donald Rowlett (creator of Woolworth's off-price subsidiary, J. Brannam), led the acquisition of the company with the goal of creating an off-price chain. 

The chain's first non-California store, in Reno, Nevada (much of the chain's expansion came through the acquisition of existing strip mall stores) was added in 1983. Another 40 stores were added in 1984. The company went public in 1985 to help fund its expansion and extended its reach to include Colorado, Florida, Georgia, New Mexico, and Oregon; that year it opened 41 stores. In 2004 Ross opened its first three dd's Discounts stores in Vallejo, San Leandro, and Fresno, California. 

Ross Stores, Inc.

5130 Hacienda Dr
Dublin, CA 94568-7635
Phone: 1 (925) 965-4400

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: ROST
Stock Exchange: , NASDAQ
Chairman: Michael A. Balmuth
President and COO: Michael B. O'Sullivan
CEO: Barbara Rentler
Employees (This Location): 1,500
Employees (All Locations): 92,500

Major Office Locations

Dublin, CA

Other Locations

Alabaster, AL
Decatur, AL
Dothan, AL
Fultondale, AL
Gadsden, AL
Hoover, AL
Huntsville, AL
Irondale, AL
Mobile, AL
Montgomery, AL
Opelika, AL
Oxford, AL
Prattville, AL
Spanish Fort, AL
Tuscaloosa, AL
Fort Smith, AR
Hot Springs, AR
North Little Rock, AR
Russellville, AR
Bullhead City, AZ
Casa Grande, AZ
Chandler, AZ
Douglas, AZ
Flagstaff, AZ
Gilbert, AZ
Glendale, AZ
Goodyear, AZ
Green Valley, AZ
Kingman, AZ
Lake Havasu City, AZ
Mesa, AZ
Nogales, AZ
Peoria, AZ
Phoenix, AZ
Prescott, AZ
Queen Creek, AZ
Scottsdale, AZ
Sierra Vista, AZ
Surprise, AZ
Tempe, AZ
Tolleson, AZ
Tucson, AZ
Yuma, AZ
Alameda, CA
Alhambra, CA
Anaheim, CA
Apple Valley, CA
Auburn, CA
Azusa, CA
Bakersfield, CA
Bell Gardens, CA
Brentwood, CA
Broken Arrow, CA
Buena Park, CA
Burbank, CA
Camarillo, CA
Campbell, CA
Capitola, CA
Carmichael, CA
Carson, CA
Castro Valley, CA
Cerritos, CA
Chico, CA
Chino, CA
Chula Vista, CA
Citrus Heights, CA
City Of Industry, CA
Clovis, CA
Colma, CA
Colton, CA
Commerce, CA
Compton, CA
Concord, CA
Corona, CA
Costa Mesa, CA
Covina, CA
Culver City, CA
Cupertino, CA
Cypress, CA
Daly City, CA
Delano, CA
Diamond Bar, CA
Downey, CA
Dublin, CA
El Cajon, CA
El Centro, CA
El Cerrito, CA
Elk Grove, CA
El Monte, CA
El Paso, CA
Emeryville, CA
Encinitas, CA
Escondido, CA
Eureka, CA
Fairfield, CA
Folsom, CA
Fontana, CA
Fountain Valley, CA
Fremont, CA
Fresno, CA
Fullerton, CA
Gardena, CA
Garden Grove, CA
Gilroy, CA
Glendale, CA
Goleta, CA
Granada Hills, CA
Hanford, CA
Harbor City, CA
Harker Heights, CA
Hawthorne, CA
Hayward, CA
Hemet, CA
Hesperia, CA
Highland, CA
Huntington Beach, CA
Huntington Park, CA
Indio, CA
Inglewood, CA
La Canada, CA
La Habra, CA
La Jolla, CA
Lake Forest, CA
Lakewood, CA
La Mesa, CA
La Mirada, CA
Lancaster, CA
La Quinta, CA
Las Cruces, CA
La Verne, CA
Lincoln, CA
Livermore, CA
Lodi, CA
Lompoc, CA
Long Beach, CA
Los Angeles, CA
Madera, CA
Manteca, CA
Maywood, CA
Menifee, CA
Merced, CA
Milpitas, CA
Mira Loma, CA
Mission, CA
Modesto, CA
Monrovia, CA
Montclair, CA
Montebello, CA
Moreno Valley, CA
Morgan Hill, CA
Mountain View, CA
Murrieta, CA
Napa, CA
National City, CA
Newark, CA
Newbury Park, CA
North Highlands, CA
Northridge, CA
Oakland, CA
Oceanside, CA
Omaha, CA
Ontario, CA
Orange, CA
Orlando, CA
Oxnard, CA
Pacifica, CA
Palmdale, CA
Palm Desert, CA
Palm Springs, CA
Paramount, CA
Pasadena, CA
Paso Robles, CA
Perris, CA
Petaluma, CA
Pico Rivera, CA
Pittsburg, CA
Placentia, CA
Placerville, CA
Pleasant Hill, CA
Pomona, CA
Poway, CA
Rancho Cordova, CA
Rancho Cucamonga, CA
Rancho Santa Margari, CA
Redding, CA
Redlands, CA
Redwood City, CA
Reseda, CA
Richmond, CA
Riverside, CA
Rohnert Park, CA
Roseville, CA
Sacramento, CA
Salinas, CA
San Bernardino, CA
San Carlos, CA
Sand City, CA
San Diego, CA
San Dimas, CA
San Fernando, CA
San Francisco, CA
San Jose, CA
San Juan Capistrano, CA
San Leandro, CA
San Luis Obispo, CA
San Marcos, CA
San Mateo, CA
San Pedro, CA
San Rafael, CA
Santa Ana, CA
Santa Barbara, CA
Santa Clara, CA
Santa Clarita, CA
Santa Cruz, CA
Santa Maria, CA
Santa Rosa, CA
Santee, CA
San Ysidro, CA
Sausalito, CA
Shafter, CA
Sherman Oaks, CA
Signal Hill, CA
Simi Valley, CA
Solana Beach, CA
Sonora, CA
South Gate, CA
South Lake Tahoe, CA
Stevenson Ranch, CA
Stockton, CA
Sunnyvale, CA
Tarzana, CA
Temecula, CA
Thousand Oaks, CA
Torrance, CA
Tracy, CA
Turlock, CA
Tustin, CA
Ukiah, CA
Vacaville, CA
Vallejo, CA
Van Nuys, CA
Venice, CA
Ventura, CA
Victorville, CA
Visalia, CA
Vista, CA
Walnut Creek, CA
Watsonville, CA
West Covina, CA
West Sacramento, CA
Whittier, CA
Woodland, CA
Yuba City, CA
Yucaipa, CA
Aurora, CO
Boulder, CO
Colorado Springs, CO
Denver, CO
Durango, CO
Englewood, CO
Grand Junction, CO
Greeley, CO
Highlands Ranch, CO
Lakewood, CO
Littleton, CO
Longmont, CO
Loveland, CO
Montrose, CO
Northglenn, CO
Pueblo, CO
Westminster, CO
Wheat Ridge, CO
Washington, DC
Dover, DE
New Castle, DE
Altamonte Springs, FL
Apopka, FL
Aventura, FL
Boca Raton, FL
Boynton Beach, FL
Bradenton, FL
Brooksville, FL
Cape Coral, FL
Casselberry, FL
Clearwater, FL
Clermont, FL
Coral Gables, FL
Coral Springs, FL
Davenport, FL
Davie, FL
Deerfield Beach, FL
Deland, FL
Delray Beach, FL
Destin, FL
Estero, FL
Fort Lauderdale, FL
Fort Myers, FL
Fort Walton Beach, FL
Gainesville, FL
Hallandale Beach, FL
Hialeah, FL
Hollywood, FL
Homestead, FL
Indian Harbour Beach, FL
Jacksonville, FL
Jacksonville Beach, FL
Jupiter, FL
Key West, FL
Kissimmee, FL
Lady Lake, FL
Lake City, FL
Lakeland, FL
Lake Mary, FL
Lake Worth, FL
Land O Lakes, FL
Largo, FL
Lauderdale Lakes, FL
Margate, FL
Melbourne, FL
Merritt Island, FL
Miami, FL
Miami Beach, FL
Miramar, FL
Mount Dora, FL
Naples, FL
North Lauderdale, FL
North Miami Beach, FL
Oldsmar, FL
Orange City, FL
Orange Park, FL
Orlando, FL
Ormond Beach, FL
Oviedo, FL
Palm Beach Gardens, FL
Palm Harbor, FL
Panama City, FL
Panama City Beach, FL
Pembroke Pines, FL
Pensacola, FL
Plant City, FL
Pompano Beach, FL
Port Orange, FL
Port Richey, FL
Port Saint Lucie, FL
Riviera Beach, FL
Royal Palm Beach, FL
Saint Augustine, FL
Saint Petersburg, FL
Sanford, FL
Sarasota, FL
Sebring, FL
Spring Hill, FL
Stuart, FL
Tallahassee, FL
Tamarac, FL
Tampa, FL
University Park, FL
Valrico, FL
Vero Beach, FL
Wesley Chapel, FL
West Melbourne, FL
West Palm Beach, FL
Winter Garden, FL
Winter Park, FL
Zephyrhills, FL
Acworth, GA
Albany, GA
Alpharetta, GA
Athens, GA
Atlanta, GA
Augusta, GA
Austell, GA
Brookhaven, GA
Brunswick, GA
Buford, GA
Canton, GA
Carrollton, GA
Columbus, GA
Conyers, GA
Covington, GA
Cumming, GA
Decatur, GA
Douglasville, GA
Duluth, GA
East Point, GA
Evans, GA
Fayetteville, GA
Flowery Branch, GA
Fort Oglethorpe, GA
Gainesville, GA
Griffin, GA
Hiram, GA
Jonesboro, GA
Lawrenceville, GA
Lithonia, GA
Macon, GA
Mcdonough, GA
Morrow, GA
Newnan, GA
Norcross, GA
Peachtree City, GA
Pooler, GA
Savannah, GA
Smyrna, GA
Snellville, GA
Stockbridge, GA
Stone Mountain, GA
Valdosta, GA
Warner Robins, GA
Aiea, HI
Ewa Beach, HI
Hilo, HI
Honolulu, HI
Kahului, HI
Kailua Kona, HI
Kaneohe, HI
Mililani, HI
Pearl City, HI
Cedar Falls, IA
Des Moines, IA
Boise, ID
Coeur D Alene, ID
Idaho Falls, ID
Lewiston, ID
Meridian, ID
Moscow, ID
Nampa, ID
Pocatello, ID
Algonquin, IL
Alton, IL
Bloomingdale, IL
Bolingbrook, IL
Calumet City, IL
Carbondale, IL
Chicago, IL
Crestwood, IL
Crystal Lake, IL
Danville, IL
Darien, IL
Downers Grove, IL
East Peoria, IL
Fairview Heights, IL
Forsyth, IL
Hillside, IL
Homewood, IL
Joliet, IL
Matteson, IL
Mchenry, IL
Mount Prospect, IL
Naperville, IL
Niles, IL
Orland Park, IL
Oswego, IL
Palatine, IL
Peoria, IL
Plainfield, IL
River Grove, IL
Schaumburg, IL
Skokie, IL
South Elgin, IL
Springfield, IL
Tinley Park, IL
Waukegan, IL
Clarksville, IN
Elkhart, IN
Evansville, IN
Hammond, IN
Merrillville, IN
Michigan City, IN
South Bend, IN
Derby, KS
Garden City, KS
Lawrence, KS
Olathe, KS
Overland Park, KS
Topeka, KS
Wichita, KS
Elizabethtown, KY
Lexington, KY
Louisville, KY
Pikeville, KY
Baton Rouge, LA
Bossier City, LA
Covington, LA
Denham Springs, LA
Gretna, LA
Hammond, LA
Harvey, LA
Houma, LA
Lafayette, LA
Lake Charles, LA
Monroe, LA
New Orleans, LA
Shreveport, LA
Slidell, LA
Baltimore, MD
Bel Air, MD
Bowie, MD
California, MD
Catonsville, MD
Columbia, MD
District Heights, MD
Frederick, MD
Gaithersburg, MD
Greenbelt, MD
Gwynn Oak, MD
Hagerstown, MD
Hyattsville, MD
Laurel, MD
Oxon Hill, MD
Rockville, MD
Salisbury, MD
Silver Spring, MD
Upper Marlboro, MD
Waldorf, MD
Arnold, MO
Ballwin, MO
Blue Springs, MO
Chesterfield, MO
Grandview, MO
Independence, MO
Jefferson City, MO
Joplin, MO
Kansas City, MO
Liberty, MO
O Fallon, MO
Osage Beach, MO
Saint Joseph, MO
Saint Louis, MO
Diberville, MS
Flowood, MS
Gulfport, MS
Hattiesburg, MS
Meridian, MS
Olive Branch, MS
Oxford, MS
Tupelo, MS
Billings, MT
Bozeman, MT
Great Falls, MT
Helena, MT
Kalispell, MT
Missoula, MT
Aberdeen, NC
Albemarle, NC
Arden, NC
Asheboro, NC
Asheville, NC
Burlington, NC
Cary, NC
Charlotte, NC
Concord, NC
Durham, NC
Fayetteville, NC
Garner, NC
Gastonia, NC
Goldsboro, NC
Greensboro, NC
Hickory, NC
High Point, NC
Jacksonville, NC
Knightdale, NC
Lincolnton, NC
Matthews, NC
Monroe, NC
Mooresville, NC
Morehead City, NC
Morganton, NC
Morrisville, NC
Raleigh, NC
Rocky Mount, NC
Sanford, NC
Wake Forest, NC
Wilson, NC
Winston Salem, NC
Audubon, NJ
Blackwood, NJ
Cherry Hill, NJ
Ewing, NJ
Hamilton, NJ
Lawrenceville, NJ
Mays Landing, NJ
Millville, NJ
Mount Laurel, NJ
Rio Grande, NJ
Voorhees, NJ
Woodbury, NJ
Albuquerque, NM
Farmington, NM
Las Cruces, NM
Rio Rancho, NM
Santa Fe, NM
Carson City, NV
Elko, NV
Henderson, NV
Las Vegas, NV
North Las Vegas, NV
Reno, NV
Sparks, NV
New York, NY
Broken Arrow, OK
Edmond, OK
Enid, OK
Lawton, OK
Midwest City, OK
Moore, OK
Muskogee, OK
Norman, OK
Oklahoma City, OK
Owasso, OK
Shawnee, OK
Stillwater, OK
Tulsa, OK
Albany, OR
Beaverton, OR
Bend, OR
Corvallis, OR
Eugene, OR
Grants Pass, OR
Gresham, OR
Happy Valley, OR
Hillsboro, OR
Klamath Falls, OR
Mcminnville, OR
Medford, OR
Oregon City, OR
Portland, OR
Roseburg, OR
Salem, OR
Warrenton, OR
Allentown, PA
Altoona, PA
Bensalem, PA
Butler, PA
Carlisle, PA
Cheltenham, PA
Du Bois, PA
Erie, PA
Exton, PA
Greensburg, PA
Hanover, PA
Harrisburg, PA
Homestead, PA
Jenkintown, PA
Johnstown, PA
Lancaster, PA
Lansdale, PA
Levittown, PA
Mechanicsburg, PA
Monaca, PA
Philadelphia, PA
Pittsburgh, PA
Plymouth Meeting, PA
Quakertown, PA
Reading, PA
Royersford, PA
State College, PA
Tarentum, PA
Warminster, PA
Whitehall, PA
Wilkes Barre, PA
York, PA
Aiken, SC
Anderson, SC
Bluffton, SC
Columbia, SC
Florence, SC
Fort Mill, SC
Greenville, SC
Greenwood, SC
Lexington, SC
Myrtle Beach, SC
North Charleston, SC
North Myrtle Beach, SC
Rock Hill, SC
Simpsonville, SC
Spartanburg, SC
Summerville, SC
Rapid City, SD
Sioux Falls, SD
Alcoa, TN
Brentwood, TN
Chattanooga, TN
Cleveland, TN
Collierville, TN
Columbia, TN
Hendersonville, TN
Jackson, TN
Johnson City, TN
Kingsport, TN
Knoxville, TN
Memphis, TN
Morristown, TN
Mount Juliet, TN
Nashville, TN
Spring Hill, TN
Abilene, TX
Allen, TX
Amarillo, TX
Arlington, TX
Austin, TX
Bastrop, TX
Baytown, TX
Beaumont, TX
Brownsville, TX
Burleson, TX
Carrollton, TX
Cedar Hill, TX
Cedar Park, TX
College Station, TX
Conroe, TX
Copperas Cove, TX
Corpus Christi, TX
Cypress, TX
Dallas, TX
Del Rio, TX
Denton, TX
Desoto, TX
Dickinson, TX
Eagle Pass, TX
El Paso, TX
Euless, TX
Fort Worth, TX
Frisco, TX
Galveston, TX
Garland, TX
Georgetown, TX
Grand Prairie, TX
Grapevine, TX
Greenville, TX
Harker Heights, TX
Harlingen, TX
Houston, TX
Humble, TX
Hurst, TX
Irving, TX
Katy, TX
Killeen, TX
Kyle, TX
Lake Jackson, TX
Laredo, TX
Lewisville, TX
Longview, TX
Lubbock, TX
Lufkin, TX
Mansfield, TX
Marble Falls, TX
Mcallen, TX
Mckinney, TX
Mesquite, TX
Midland, TX
Mission, TX
Missouri City, TX
New Braunfels, TX
Odessa, TX
Pasadena, TX
Pearland, TX
Pflugerville, TX
Plano, TX
Port Arthur, TX
Richardson, TX
Richmond, TX
Rockwall, TX
Rosenberg, TX
Round Rock, TX
Rowlett, TX
San Angelo, TX
San Antonio, TX
San Marcos, TX
Selma, TX
Sherman, TX
Spring, TX
Stafford, TX
Sugar Land, TX
Sunset Valley, TX
Temple, TX
Texarkana, TX
The Colony, TX
The Woodlands, TX
Tomball, TX
Tyler, TX
Victoria, TX
Waco, TX
Watauga, TX
Waxahachie, TX
Weatherford, TX
Webster, TX
Weslaco, TX
Wichita Falls, TX
Windcrest, TX
Wylie, TX
Bountiful, UT
Cedar City, UT
Draper, UT
Farmington, UT
Layton, UT
Logan, UT
Midvale, UT
Ogden, UT
Orem, UT
Salt Lake City, UT
St George, UT
Vernal, UT
West Jordan, UT
Alexandria, VA
Bristol, VA
Burke, VA
Chesapeake, VA
Christiansburg, VA
Danville, VA
Exmore, VA
Fairfax, VA
Falls Church, VA
Fredericksburg, VA
Glen Allen, VA
Hampton, VA
Harrisonburg, VA
Kingstowne, VA
Leesburg, VA
Lynchburg, VA
Manassas, VA
Midlothian, VA
Newport News, VA
Norfolk, VA
North Chesterfield, VA
Richmond, VA
Roanoke, VA
Sterling, VA
Suffolk, VA
Waynesboro, VA
Williamsburg, VA
Winchester, VA
Aberdeen, WA
Bellevue, WA
Bellingham, WA
Burien, WA
Burlington, WA
Everett, WA
Issaquah, WA
Kennewick, WA
Kent, WA
Kirkland, WA
Lakewood, WA
Longview, WA
Marysville, WA
Olympia, WA
Puyallup, WA
Redmond, WA
Renton, WA
Richland, WA
Seattle, WA
Sequim, WA
Silverdale, WA
Spokane, WA
Spokane Valley, WA
Tacoma, WA
Tukwila, WA
Union Gap, WA
Vancouver, WA
Wenatchee, WA
Woodinville, WA
Green Bay, WI
Kenosha, WI
Madison, WI
Milwaukee, WI
Onalaska, WI
Racine, WI
Waukesha, WI
West Allis, WI
Casper, WY
Cheyenne, WY
Rock Springs, WY