In under two months, discount retailer Ross Stores has opened 40 new stores.
The company launched 36 Ross Dress for Less and four DD’s Discounts stores in 17 states in September and October. The openings complete the retailer’s growth plans for fiscal 2025, adding a total of 90 stores in the time period, according to a company press release.
The brick-and-mortar expansion brought additional Ross Dress for Less locations to the Midwest and Northeast, with new stores in Michigan, New Jersey and New York, according to Richard Lietz, executive vice president of property development. DD’s expanded its footprint in the company’s core markets of California and Texas.
“This fall, we continued to strengthen our brand presence by opening stores in existing markets and expanding in new markets,” Lietz said in a statement. “Looking ahead, we remain confident in our expansion plans and see plenty of opportunity to grow to at least 2,900 Ross Dress for Less and 700 DD’s Discounts locations over time.”
The company acquired a number of stores in the Rite Aid bankruptcy deal, mostly in its West Coast markets, Group President and Chief Operating Officer Michael Hartshorn recently said on a call with analysts.
The retailer is refreshing some of its fleet, and expects to get to half of its locations this year, executives told analysts. The company is also piloting self-checkout in 80 locations and aims to expand those efforts in 2026, mainly in its high-volume locations.
A year ago, Ross Stores announced the appointment of James Conroy as its chief executive officer. Conroy came to the company from Boot Barn, where he was CEO. Months later the retailer announced a new chief financial officer, William Sheehan, following the retirement of Adam Orvos.
In its latest quarter, total sales increased 5% year over year to $5.5 billion, while comparable store sales increased 2%. Net income dropped 3.6% in Q2 to nearly $508 million.
The company currently operates a combined total of nearly 2,300 Ross Dress for Less and DD’s Discounts stores in 44 states, Washington, D.C., Guam and Puerto Rico.