As other retailers make headlines for store closings, Ross Stores’ 2014 expansion plans remain on track. The off-price retailer has already opened 30 Ross Dress for Less and seven dd’s Discounts stores in 14 different states, and there’s more to come.
“We remain on track to open a total of approximately 95 new locations in 2014, comprised of about 75 Ross Dress for Less and 20 dd’s Discounts,” said Jim Fassio, president and chief development officer. “Today, Ross Dress for Less is the largest off-price apparel and home fashion chain in the U.S.”
The retailer is looking to build presence in existing markets and grow in newer markets where it first entered in 2011.
Including the latest openings, Ross now operates 1,173 stores in 33 states, the District of Columbia and Guam. Long term Ross believes it can reach 2,000 locations. The planned expansion of dd’s Discounts in 2014 also marks the fourth consecutive year of double-digit percentage unit growth, and the company anticipates that dd’s can become a 500-store chain over time.
Source: Retailing Today