Ross Stores opened 27 new stores from June through this week, the retailer said Monday.
The company recently opened 18 Ross Dress for Less stores and nine DD’s Discounts stores in 14 states. The company said in an announcement that the new locations are part of its plans to add 100 new stores – 75 Ross and 25 DD’s Discounts – in the 2023 fiscal year.
"This summer, Ross Dress for Less opened its inaugural six stores in the state of Michigan and DD's expanded its presence in Arizona, California, Florida, Georgia, Oklahoma, and Pennsylvania,” said Gregg McGillis, group executive vice president of property development. “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."
Ross opened 11 namesake stores and eight DD’s stores in Q1, CEO Barbara Rentler said during a May earnings call. Rentler also told investors and analysts that the goal of 100 new locations doesn’t reflect plans to close or relocate about 10 stores. The company recently announced that Rentler will stay on as CEO until 2026.
The company did not immediately respond to a Wednesday request for comment from Retail Dive on the total number of new stores it’s opened so far this year. But as of Monday, the California-based retailer said it had 2,061 stores – 1,722 Ross locations in 41 states, Washington, D.C., and Guam, and 339 DD’s Discounts stores in 22 states. Ross offers first quality, seasonal name brand and designer apparel, footwear and home fashions, while DD’s Discounts offers a more moderately priced assortment.
Ross had total Q1 sales of $4.5 billion, up 3.7% from last year, and comparable sales rose 1%. The retailer reported $18.7 billion in fiscal year 2022 revenue.
In response to an analyst’s question during the May earnings call, Ross said it might consider opportunities for new stores in former Bed Bath & Beyond locations. That retailer filed for Chapter 11 in April and is going out of business.
Looking ahead, Bed Bath & Beyond “will no doubt provide opportunities for new store locations. We'll have to review each potential new site on a case-by-case basis to see if it's appropriate for us. But I would say, it's not going to impact our 100-store opening plan for this year,” said Ross Chief Operating Officer Michael Hartshorn, according to an earnings call transcript. Ross did not immediately respond to Retail Dive's inquiry if it has purchased any former Bed Bath & Beyond locations.
