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 2023, Ross operates 1,765 stores in 45 U.S. states, the District of Columbia 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 300 locations across the United States, most of which are located in Sun Belt states.[9]
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| Ross Dress for Less | |
| Company type | Public |
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| Industry | Retail |
| Founded | 1950 Pacifica, California, U.S.[1] |
| Founder | Morris Ross Bill Isackson |
| Headquarters | , U.S. |
Number of locations | |
Area served |
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Key people |
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| Products | Clothing, footwear, bedding, bath, furniture, home decor, jewelry, beauty products, toys, appliances, housewares, and giftware. |
| Revenue |  US$14.89 billion (2018)[4] |
| US$1.61 billion (2015) | |
| US$1.02 billion (2015) | |
| Total assets | US$4.87 billion (2015) |
| Total equity | US$2.47 billion (2015) |
Number of employees | 88,100 (2019) |
| Subsidiaries | dd's Discounts |
| Website | |
| Footnotes / references [5] | |
History
editRoss 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]
See also
editReferences
edit- ^ "OBITUARY -- Morris Ross". December 5, 1997.
- ^ "Number of Ross Stores locations in the United States in 2023 -". scapehero.com.
- ^ "Number of dd's DISCOUNTS stores in the United States in 2023 -". scapehero.com.
- ^ Jain, Chelsi. "Revenue Updated". Ross Stores.
{{cite web}}: Missing or empty|url=(help) - ^ "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". storesinfo.com.
- ^ "Number of dd's DISCOUNTS stores in the United States in 2023 -". scapehero.com.
- ^ Pimsleur, J.L. (December 5, 1997). "Obituary -- Morris Ross". San Francisco Chronicle. Retrieved October 10, 2011.
- ^ "History of Ross Stores, Inc. – FundingUniverse". 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 -". pleasantonweekly.com.
External links
edit- Official website
- Business data for Ross: