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Ross Stores

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Not to be confused with Roses (store).
Ross Stores, Inc.
Ross Dress for Less
Company typePublic
IndustryRetail
Founded1950
Pacifica, California, U.S.[1]
FounderMorris Ross
Bill Isackson
Headquarters
Dublin, California
,
U.S.
Number of locations
  • 1,795 (Ross Dress for Less)[2]
  • 353 (DD's Discounts)[3]
Area served
Key people
ProductsClothing, footwear, bedding, bath, furniture, home decor, jewelry, beauty products, toys, appliances, housewares, and giftware.
RevenueIncrease US$14.89 billion (2018)[4]
Increase US$1.61 billion (2015)
Increase US$1.02 billion (2015)
Total assetsIncrease US$4.87 billion (2015)
Total equityIncrease US$2.47 billion (2015)
Number of employees
88,100 (2019)
Subsidiariesdd's Discounts
Website
Footnotes / references
[5]

Ross Stores, Inc., operating under the brand name Ross Dress for Less, is an American chain of discount department stores headquartered in Dublin, California.[6] It is the largest off-price retailer in the U.S.; as of July 2024, Ross operates 1,795 stores in 43 U.S. states, Washington, D.C. and Guam,[7] covering much of the country, but with no presence in New England, Alaska, and areas of the Midwest.[8] The company also operates DD's Discounts, a discount department store chain with over 353 locations across the United States, most of which are located in Sun Belt states.[9]

History

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A Ross Store in Pittsburgh, Pennsylvania
A DD's Discounts Store in San Antonio, Texas

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.[10] 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.[11][12] 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.[13] 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.[14] Ross moved its headquarters from Pleasanton to neighboring Dublin, California, in 2014.[15]

On October 28, 2024, the board of directors appointed James Conroy as the new CEO, succeeding Barbara Rentler effective February 2, 2025.[16] Conroy previously served as CEO of Boot Barn.

See also

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References

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  1. ^ "OBITUARY -- Morris Ross". December 5, 1997.
  2. ^ "Ross Stores adds 24 new locations in 2 months".
  3. ^ "Number of dd's DISCOUNTS stores in the United States in 2023 -". scapehero.com.
  4. ^ Jain, Chelsi. "Revenue Updated". Ross Stores. {{cite web}}: Missing or empty |url= (help)
  5. ^ "Fortune 500 - 209 Ross Stores". Fortune. Retrieved August 26, 2019.
  6. ^ "Ross Stores". True Work. Retrieved August 26, 2019.
  7. ^ "Ross Stores adds 24 new locations in 2 months". Retail Dive. Retrieved July 25, 2024.
  8. ^ rvl. "Ross locations & hours". storesinfo.com.
  9. ^ "Number of dd's DISCOUNTS stores in the United States in 2023 -". scapehero.com.
  10. ^ Pimsleur, J.L. (December 5, 1997). "Obituary -- Morris Ross". San Francisco Chronicle. Retrieved October 10, 2011.
  11. ^ "History of Ross Stores, Inc. – FundingUniverse". fundinguniverse.com.
  12. ^ "Ross Stores, Inc. - Company Profile, Information, Business Description, History, Background Information on Ross Stores, Inc". referenceforbusiness.com. referenceforbusiness. Retrieved June 21, 2014.
  13. ^ "Overview: Historical Highlights". Ross Dress for Less. Retrieved June 21, 2014.
  14. ^ Rupp, Lindsey (May 8, 2014). "Ross Stores' Rentler to Be 25th Female CEO in Fortune 500". Bloomberg Business. Retrieved February 26, 2015.
  15. ^ "Ross moving corporate headquarters to Dublin in 2014 - January 27, 2012 - Pleasanton Weekly - PleasantonWeekly.com -". pleasantonweekly.com.
  16. ^ "Ross Stores Names James G. Conroy as Next Chief Executive Officer".
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  • Official website
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