In its mission to add approximately 100 new stores in 2022, Ross Stores has opened 29 new locations in June and July. According to the company, it has recently opened 21 Ross Dress for Less and eight dd’s Discounts outposts across 12 different states.
“These recent openings reflect our ongoing commitment to expanding our two chains,” said Gregg McGillis, group executive vice president of property development, in a statement.”
He added that so far this summer, Ross Stores expanded its presence in its largest markets of California, Florida, and Texas. The retail chain also added locations in newer states, such as North Carolina for dd’s, as well as Ohio for Ross.
“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,” he said.
Together, Ross Dress for Less and dd’s Discounts currently operate a total of 1,980 locations.
This time last year, the company opened 22 Ross Dress for Less and eight dd’s Discounts stores across 11 different states in a move to bolster its brick-and-mortar presence.
Ross sales for the first quarter of 2022 ending May 1 were $4.3 billion versus $4.5 billion in the prior year period. Comparable store sales declined 7% on top of a robust 13% gain in the first quarter of 2021 versus 2019.
During Ross Stores Inc.’s first-quarter earnings call in May, CEO Barbara Rentler said she expects sales and profitability to improve through the year, however, “it is prudent to adopt a more conservative outlook for the balance of the year.”
She continued, “We now forecast comparable store sales to decline 2% to 4% versus a 13% gain in fiscal 2021.”
