Ross Stores plans to add 100 physical locations by January 2023

Ross Stores is already almost a third of the way towards its goal of opening approximately 100 new stores in fiscal 2022. In February and March 2022, the discount retailer opened 22 Ross dress for less pitches and eight DISCOUNT from dd stores in 15 United States and Guam.

The retailer’s goal is to add a total of 75 Ross and 25 dd’s DISCOUNTS stores by the end of its current fiscal year on January 28, 2023. Currently, the company operates a total of 1,952 stores under both banners at 40 States, the District of Columbia and Guam.

“We recently raised our stores’ potential targets for REBATE from Ross and dd,” said Gregg McGillis, group executive vice president for property development at Ross Stores in a statement. “Our return to stronger unit growth in 2022 reflects our belief that Ross can ultimately achieve 2,900 dd slots and DISCOUNTS can become a string of 700 stores given consumers’ continued interest in value and convenience.

“Our continued expansion of both channels also demonstrates our commitment to building our presence in existing and new markets,” added McGillis.

For fiscal 2021, which ended January 29, 2022, Ross had total sales of $18.9 billionat the top 18% from $16 billion in prior year sales, and increased comp store sales by 13%.

Discount retailers are apparently seeing their growth tied to more physical locations. In recent months, several have announced plans to expand their store footprints, including:

  • Aldi: Plan to add 150 current stores 2,100– store network, announced in February 2022;
  • Big prizes: Plan to add 500 stores over the next six to seven yearsannounced in January 2022;
  • General dollars: Opening planning 1,000 pOpshelf stores and expanding into Mexico, announced in December 2021; and
  • Dollar tree: Plan to add 600 new stores and renovate 1,250 locations, announced in March 2021.
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