It’s not all bad news on the retail front.
Off-pricer Ross Stores has said it will add 60 new stores during fiscal 2021.
The locations will include 40 Ross Dress for Less stores and 20 DD’s Discounts sites. Ross on Monday said it recently opened four Ross Dress for Less stores and three DD’s across five states in February and March. The new locations are part of the new store count planned for this year.
“These recent openings reflect our ongoing plans to continue the expansion of our two chains,” Gregg McGillis, group executive vice president, property development, said. “We now operate a total of 1,866 Ross Dress for Less and DD’s Discounts locations across 40 states, the District of Columbia, and Guam.”
McGillis said the company is confident that, over the long term, Ross can grow to “2,400 locations and DD’s Discounts can become a chain of 600 stores given consumers’ ongoing focus on value and convenience.”
Ross last week reported fourth-quarter net income of $238 million, or 67 cents a diluted share, on sales totaling $4.2 billion.
Ross currently operates 1,589 Ross Dress for Less across 40 states, the District of Columbia and Guam. The chain offers in-season merchandise at a savings of 20 to 60 percent off department and specialty store regular prices. It also operates 277 DD’s Discounts in 21 states, which offers a more moderately-priced assortment of in-season brands at 20 to 70 percent off moderate department and discount store prices.
Ross’ off-price competitor Burlington Stores Inc. is also opening new doors. It plans to unveil 100 stores this year, the company said last week when it posted fourth-quarter results. Burlington, best know for its selection of outerwear, also said it plans to up its total store goal to 2,000 from 1,000. It currently has a store network or 761 locations.