Ross Stores
Type | Public |
---|---|
Nasdaq: ROST NASDAQ-100 Component S&P 500 Component | |
Industry | Retail |
Founded | 1982 Pacifica, California, U.S. |
Founder | Morris Ross Bill Isackson |
Headquarters | , U.S. |
Number of locations | 1,523 [1] [2] |
Area served | United States District of Columbia Guam |
Key people |
|
Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, toys, and housewares. |
Revenue | US$11.94 billion (FY 2015) |
US$1.61 billion (FY 2015) | |
US$1.02 billion (FY 2015) | |
Total assets | US$4.87 billion (FY 2015) |
Total equity | US$2.47 billion (FY 2015) |
Number of employees | 88,100 (2019) |
Subsidiaries | dd's Discounts |
Website | rossstores |
Footnotes / references [3] |
Ross Stores, Inc., operating under the brand name Ross Dress for Less, is an American chain of discount department stores headquartered in Dublin, California.[4] It is the largest off-price retailer in the U.S.; as of 2018, Ross operates 1,483 stores in 37 U.S. states, the District of Columbia and Guam,[5] covering much of the country, but with no presence in New England, New York, northern New Jersey, Alaska and areas of the Midwest.[6]
History[]
Ross Department Store was first opened in San Bruno, California, in 1950 by Morris "Morrie" Ross. Morris would work 85 hours a week doing all of the buying and bookkeeping for his department store. In 1958 Ross sold his store to William Isackson to become a residential and commercial real estate developer.[7] Isackson built the company to six stores, located in San Bruno, Pacifica, Novato, Vacaville, Redwood City, and Castro Valley. In 1982 a group of investors, including Mervin Morris, founder of the Mervyn's chain of department stores, purchased the six Ross Department Stores in San Francisco, changed the format to off-price retail units, and within three years rapidly expanded the chain to 107 stores under Stuart Moldaw and Don Rowlett.[8][9] By the end of 1995 the chain reached an annual sales of $1.4 billion with 292 stores in 18 states. By 2012 Ross reached $9.7 billion for the fiscal year with 1,091 stores in 33 states with an additional 108 for Dd's Discounts in 8 states.[10] Ross moved its headquarters from Newark to Pleasanton, California, in the Tri-Valley area, in 2003.
Barbara Rentler took the place of CEO Michael Balmuth on June 1, 2014; she was the 25th female CEO of a Fortune 500 company.[11] Ross moved its headquarters from Pleasanton to neighboring Dublin, California, in 2014.[12]
Expansion[]
Ross Stores opened 28 new locations in July 2019 with the chain having 1,523 stores and operating 249 dd's DISCOUNTS in 39 states, the District of Columbia, and Guam.[13]
See also[]
- T.J.Maxx
- Marshalls
- Burlington
References[]
- ^ "Ross investor presentation dated November 2014". Retrieved February 15, 2015.
- ^ Ross Stores, Inc. (July 22, 2019). "Ross Stores Opens 28 New Locations (On Track to Add Approximately 100 New Stores in 2019)". Prnewswire. New York City: Cision Inc. Retrieved August 6, 2020.
- ^ "Fortune 500 - 209 Ross Stores". Fortune. Retrieved August 26, 2019.
- ^ "Ross Stores". True Work. Retrieved August 26, 2019.
- ^ "Ross investor presentation dated November 2014". Retrieved February 15, 2015.
- ^ rvl. "Ross locations & hours". www.storesinfo.com.
- ^ Pimsleur, J.L. (December 5, 1997). "Obituary -- Morris Ross". San Francisco Chronicle. Retrieved October 10, 2011.
- ^ "History of Ross Stores, Inc. – FundingUniverse". www.fundinguniverse.com.
- ^ "Ross Stores, Inc. - Company Profile, Information, Business Description, History, Background Information on Ross Stores, Inc". referenceforbusiness.com. referenceforbusiness. Retrieved June 21, 2014.
- ^ "Overview: Historical Highlights". Ross Dress for Less. Retrieved June 21, 2014.
- ^ Rupp, Lindsey (May 8, 2014). "Ross Stores' Rentler to Be 25th Female CEO in Fortune 500". Bloomberg Business. Retrieved February 26, 2015.
- ^ "Ross moving corporate headquarters to Dublin in 2014 - January 27, 2012 - Pleasanton Weekly - PleasantonWeekly.com -". www.pleasantonweekly.com.
- ^ Ross Stores, Inc. (July 22, 2019). "Ross Stores Opens 28 New Locations (On Track to Add Approximately 100 New Stores in 2019)". Prnewswire. New York City: Cision Inc. Retrieved August 6, 2020.
External links[]
Wikimedia Commons has media related to Ross Stores. |
- Official website
- Business data for Ross:
- Companies in the NASDAQ-100
- Companies listed on the Nasdaq
- Clothing retailers of the United States
- American companies established in 1950
- Retail companies established in 1950
- Discount stores of the United States
- Companies based in Alameda County, California
- Dublin, California
- 1950 establishments in California