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Expands business footprint further: Ross establishes additional 40 stores, surpassing 2,000 locations milestone.

Retailer persists with growth strategy amidst consumers facing inflationary pressures.

Budget retailer persists with growth initiatives despite consumers feeling the squeeze from...
Budget retailer persists with growth initiatives despite consumers feeling the squeeze from inflationary pressures.

Expands business footprint further: Ross establishes additional 40 stores, surpassing 2,000 locations milestone.

Ross Stores, Inc. announces the opening of 40 new retail locations across various states, taking its store count to over 2,000 this fall. Of the newly opened stores, 28 bear the Ross Dress for Less banner, while 12 are under the DD's Discounts banner. The expansion included new locations in California, Florida, Texas, Ohio, and Illinois.

In a press release, Gregg McGillis, Ross' Group Executive Vice President for Property Development, expressed optimism about the company's long-term growth prospects. The retail giant aims to expand its footprint in the United States by operating 2,900 Ross Dress for Less stores and 700 DD's Discounts locations.

Ross Stores faces competition from TJX Cos., which currently operates 1,290 T.J. Maxx stores and 1,157 Marshalls stores in the U.S. In early 2024, TJX Cos. boasts a global presence with over 4,500 stores worldwide.

Michael Hartshorn, Ross' Chief Operating Officer, earlier hinted at the retailer's continued expansion, stating that the company sees potential in capturing additional market share. Hartshorn emphasized the growing importance of value in customer purchasing decisions and Ross' unique opportunity to cater to this demand.

As inflation impacts consumers, Ross Stores found its core customer struggling. Analysts from Telsey Advisory Group noted that the retailer's customers did not responds favorably when Ross made strategic price increases on some of its products earlier in the year. Barbara Rentler, Ross' CEO, acknowledged this and reaffirmed the company's commitment to offering "brand bargains and great values every day."

This aggressive expansion plan reflects Ross Stores' confidence in attracting budget-conscious consumers, even amidst challenging retail environments. Despite TJX Cos.' larger store count, both companies find growth potential in offering discounted products to their customers.

  1. AI forecasts suggest that Ross Stores' expansion could further disrupt the fashion-and-beauty industry, with a projected 2,900 Ross Dress for Less stores and 700 DD's Discounts locations in the U.S. by 2025.
  2. The retail industry is bracing for a dynamic shift as Ross Stores, with its strategic expansion plan, aims to capture more market share amid rising inflation, prioritizing affordability and value in lifestyle shopping experiences.
  3. As Ross Stores and TJX Cos. challenge each other for dominance in the discount retail sector, financial analysts closely monitor the impact of their pricing strategies on their customer base, particularly during times of economic uncertainty.
  4. Analyzing retail trends, some predict that the AI-driven retail landscape will see a growing number of customers gravitating towards retailers, such as Ross Stores, offering fashion-and-beauty products at competitive prices in a bid to maintain their lifestyle despite increased inflation.

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