In June and through mid-July, Ross Stores opened 29 locations under its two main banners as it keeps moving toward a planned 100-unit rollout by the end of 2022.
Pulse Ratings, in a research note published after the retailer suffered a disappointing first quarter, stated that it maintains a No Risk rating on Ross based on the strength of operations and the temporary nature of some difficulties the company faced as its fiscal year began. As to the store growth plan, Pulse Ratings noted that during the first quarter that ended April 30, Ross had added a total of 22 new namesake and eight dd’s Discounts locations, which kept it on pace to fulfill its scheduled 2022 expansion program. At first quarter’s end, Ross had 1,951 stores in operation. By mid-July, Ross had 1,980 locations in 40 states, as well as the District of Columbia and Guam.
“These recent openings reflect our ongoing commitment to expanding our two chains,” said Gregg McGillis, group executive vp, property development, in announcing the new stores. “This summer, we expanded our presence in our largest markets of California, Florida, and Texas, and also added locations in newer states, including North Carolina for dd’s as well as Ohio for Ross. Looking ahead, we remain confident in our ability to grow to at least 2,900 Ross Dress for Less and 700 dd’s Discounts locations over time.”
