As part of the retailer’s plans to open 100 locations in 2023, Ross Stores opened 11 Ross Dress for Less and eight dd’s Discounts stores in 13 states during February and March. The 2023 additions will include 75 Ross and 25 dd’s Discounts locations.
The latest batch of store openings marks dd’s Discounts’ entry into Wisconsin and has led to a larger presence for both banners in California, Texas and Florida. While both chains are focused on value, Ross puts an emphasis on off-price apparel and home fashion, while dd’s Discounts’ assortment competes with department stores through a selection of in-season name brand apparel, accessories and footwear.
This is the second year in a row when Ross Stores will grow its footprint by 100 locations while maintaining the same ratio of Ross to dd’s shops.
“These recent openings reflect our ongoing plans to continue the expansion of our two chains,” said Gregg McGillis, Group EVP, Property Development at Ross Stores in a statement. “We now operate a total of 2,034 Ross Dress for Less and dd’s DISCOUNTS locations across 40 states, the District of Columbia, and Guam. As we look out over the long term, we remain confident that Ross can grow to 2,900 locations and dd’s DISCOUNTS can become a chain of 700 stores given consumers’ ongoing focus on value and convenience.”
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Ross’ comparable store sales fell 4% year-over-year in Q4 2022, which ended Jan. 28, 2023, but the retailer attributed the drop to a phenomenal Q4 2021 in which comparable sales jumped 13%. Overall sales were down slightly in 2022, at $18.7 billion versus $18.9 billion in 2021. The retailer expects sales to remain flat in the coming year, which could make the new stores a key factor in achieving growth.
“As we enter 2023, the macroeconomic and geopolitical environments remain highly uncertain,” said Barbara Rentler, CEO of Ross Stores in a statement. “As a result, we believe it is prudent to remain conservative when planning our business.”
