REAL ESTATE

Ross Stores opens 30 locations in June, July

BY Dan Berthiaume

Dublin, Calif. – Ross Stores opened 23 Ross Dress for Less stores and seven DD’s Discounts locations across 17 states in June and July. These new locations are part of the retailer’s plans to add a total of approximately 75 Ross and 20 DD’s Discounts stores during 2014.

Ross believes that future growth opportunities include almost doubling its store count from its current 1,194 stores to 2,000 stores, and also growing DD’s Discounts from 144 stores to 500 stores.

"These latest openings reflect our ongoing expansion strategy to fill in our presence in existing markets while also increasing penetration in our newer Midwest region where we added another eight Ross locations in July,” said Jim Fassio, president and chief development officer. “The seven DD’s Discounts stores we opened also included initial entry into three new states — New Jersey, North Carolina, and Oregon."

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OPERATIONS

Loblaw promotes Joe Fresh COO to brand president

BY Dan Berthiaume

Toronto – Loblaw Companies Ltd., owner of the Joe Fresh brand, has promoted Mario Grauso to president of Joe Fresh. He was previously COO of the brand.

In his new role, Grauso oversees business strategy, operations, marketing, international development, merchandising, sourcing and design functions at Joe Fresh.

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FINANCE

Ascena Retail Group CFO resigns

BY Dan Berthiaume

Mahwah, N.J. – Dirk Montgomery, executive VP and CFO of Ascena Retail Group Inc. since January 2013, has accepted a position with a healthcare-related company based in Florida. Ascena has initiated a search process for a new CFO.

Montgomery has agreed to remain through the end of the summer. Randy Pearce, a member of Ascena’s board of directors, chair of the Audit Committee, and former CFO of Regis Corp. from 1998 to 2011, will increase his involvement in overseeing the company’s finance department during the transition.

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