Bargain hunters, rejoice. Off-price retailer Ross Stores is on track to meet its expansion target plan to open 70 Ross Dress for Less locations and 20 DD’s Discounts in 2015. Ross recently opened a total of 37 new stores in 15 states.
“These openings reflect our ongoing plans to further increase our presence in existing markets while also expanding in the newer markets which we entered back in 2011,” Jim Fassio, Ross’s president and chief development officer, said in a statement.
Ross Stores recently reported earnings performance for Q4 that exceeded expectations. Sales revenue increased 11 percent from the year-ago period to $3.03 billion, beating the analyst consensus of $2.93 billion.
The newly opened stores include locations in California, Texas and Florida, where Fassio said Ross is “still able to take advantage of attractive sites to further strengthen our market share,” as well as additional stores in such newer markets as Illinois, Kentucky and Indiana. The Dublin, CA-based company currently operates 1,242 Ross stores and 157 DD’s Discounts.
Fassio added, “Looking ahead, we continue to identify future growth opportunities across all of our markets, giving us confidence that Ross Dress for Less can ultimately grow to 2,000 locations and DD’s Discounts can eventually become a chain of 500 stores.”