Ross Stores sees plenty of room for expansion as it continues to move into new markets.
The off-pricer opened 19 stores and seven dd's Discounts outlets across nine different states in February and March. The locations are part of the company's plans to add approximately 100 new stores – 75 Ross and 25 dd's Discounts locations – during fiscal 2020.
"These recent openings reflect our ongoing plans to continue building our presence in both existing and newer markets, including the Midwest for Ross, and expansion of dd's Discounts into Indiana," said Gregg McGillis, group executive VP, property development. “As we look out over the long-term, we remain confident that Ross can grow to 2,400 locations and dd's discounts can become a chain of 600 stores given consumers' ongoing focus on value."
Currently, Ross operates 1,565 namesake locations in 39 states, the District of Columbia, and Guam, and 266 dd’s Discounts stores in 20 states.
Last week, Ross Stores reported a strong fourth quarter with earnings well above analysts’ estimates.