A surge of Ross stores opening in 2019 will have the company greatly expanding its physical retail presence in the U.S.
Ross (NASDAQ:ROST) says that it is planning to open a total of 100 new locations across the U.S. during the year. It notes that this already includes the opening of 22 Ross Dress for Less locations and six dd’s Discounts stores. These stores were opened across 12 states in February and March.
According to the company, the Ross stores opening plans include it launching 75 new Ross locations and 25 new dd’s Discounts stores throughout its fiscal year for 2019. The company doesn’t provide further details about its plans, such as what states it will focus on or more precise dates for openings.
Jim Fassio, President and Chief Development Officer for Ross, has this to say about the Ross stores opening plans for 2019.
“These recent openings reflect our ongoing plans to continue building our presence in both existing and newer markets, including the Midwest for Ross, and expansion of dd’s DISCOUNTS into Oklahoma and Illinois. We now operate a total of 1,745 Ross Dress for Less and dd’s DISCOUNTS locations across 38 states, the District of Columbia, and Guam. As we look out over the long-term, we remain confident that Ross can grow to 2,400 locations and dd’s DISCOUNTS can become a chain of 600 stores given consumers’ ongoing focus on value.”
ROST stock was up 1% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.