 | |
 | |
| Type | Public company |
|---|---|
| |
| 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 |
|
Key people |
|
| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, toys, and housewares. |
| Revenue |  US$11.94 billion (2015) |
| 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 | www |
| 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[edit]
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[edit]
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[edit]
References[edit]
- ^ "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.
{{cite web}}: CS1 maint: url-status (link) - ^ 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[edit]
- Official website
- Business data for Ross: