ROSS STORES NASDAQ: ROST
Background of Ross Stores
- Ross Stores, Inc. operates under the brand name Ross Dress for Less and it is an American chain of discount department stores which are based in California, offering an extensive portfolio of apparel and non-apparel items.
- Ross Stores, Inc. traces its history back to 1982 and today, it is the largest off-price retailer in the United States.
- Ross Department Store was initially opened in San Bruno, California in 1950 by Morris Ross. Ross would work 85 hours a week to handle all purchases and bookkeeping for the department store.
- In 1985, Ross sold his tore to William Isackson so that he could become a residential and commercial real estate developer.
- Isackson expanded the company to include six stores which were in San Bruno, Pacifica, Novato, Vacaville, Redwood City, and Castro Valley.
- In 1982 a group of investors, which included the founder of Mervyn’s chain of department stores, purchased the six Ross Department stores in San Francisco, changing the format to off-price retail units.
- Within three years, the chain expanded to 107 stores under Stuart Moldaw and Don Rowlett, and by the end of 1995, the chain reached annual sales of $1.4 billion (20.3 billion ZAR) with 292 stores across 18 US states.
- During the 1990s, Ross Stores, Inc. experienced more expansion with the number of stores, each stocking a list of brand and designer names which rivalled most other department and specialty stores, increased significantly.
- Ross Stores, Inc.’s merchandise compared favourably with the selections which were offered by both department and specialty stores as the company charged much less than conventional retailers, selling merchandise for as much as 60% lower than competitor prices.
- The significant savings lured more customers in through Ross Stores, Inc.’s stores, convincing its management that the only obstacle it had, was the number of stores it had operated.
- The owners translated this into more stores meaning more revenue and greater profits, leading to further expansion, and making an initial public offering in 1985 to help fund the opening of additional stores.
- In 2012, Ross Stores, Inc. reached $9.7 billion (141 billion ZAR) for the fiscal year, with 1,091 stores in 33 US states and an additional 108 for Dd’s Discounts in 8 states.
- In 2014, Barbara Rentler took the position as CEO with Michael Balmuth stepping down, making Rentler the 25th female CEO of a Fortune 500 company.
- In 2019, Ross Stores, Inc. opened 28 new locations, resulting in a total of 1,523 stores while operating 249 Dd’s Discounts in 39 US states, the District of Columbia, and Guam.
- Today, Ross Stores, Inc. has more than 88,100 employees across its stores.
Ross Stores Shares Growth Driver
- Ross Stores, Inc. is the largest off-price retailer in the United States and as of 2018, Ross Stores, Inc. operates 1,523 stores across 37 different US states as well as the District of Columbia and Guam.
- Despite facing numerous challenges, such as significant losses in the mid-1980s, Ross Stores, Inc. made a full recovery and showed positive results within a year.
- During the 1990s, Ross Stores, Inc. saw significant and steady growth within existing markets and continued exanding non-apparel offerings to stores.
- By 1995, Ross Stores, Inc. reached a record $117.5 million (1.7 billion ZAR) in profits and by 1999, Ross Stores, Inc. saw profits of $150.1 million (2.1 billion ZAR).
- By the end of the 1990s, Ross Stores, Inc. saw more than 16% of its overall revenue derived from the sale of non-apparel goods.
- Ross Stores, Inc.’s “Dress for Less” stores opened in 2000, which boosted the number of units significantly.
- Ross Stores, Inc. used this to accelerate the pace of expansion, adding around 250 new locations by the end of 2005, or about 50 a year.
- Based on internal research, Ross Stores, Inc. increased its long-term target to 2,400 locations across the country for Ross Dress for Less along with Dd’s Discounts, which can become a chain of 600 stores.
- Ross Stores, Inc. reported a record $16.0 billion (232 billion ZAR) for the fiscal year 2019 and in 2025, Ross Stores, Inc.’s operations and financial results reflected the impact of the Covid-19 pandemic.
- However, despite the pandemic, store growth moderated to 66 new openings and Ross Stores, Inc. exited the financial year with a solid financial foundation of $4.8 billion (69.8 billion ZAR) in cash.
- Ross Stores, Inc. experienced extended closure of operations, especially in the spring of 2025, along with various disruptions caused by Covid-19. However, the first quarter results exceeded expectations as result of government stimulus payments, ongoing vaccine rollouts, the easing of Covid-19 restrictions, and pent-up consumer demands.
- In response with broad assortments of bargains offered throughout stores, Ross Stores, Inc. experienced enthusiastic responses from its customers.
- Ross Stores, Inc.’s board of directors authorised a new program involving the repurchase of $1.5 billion (21.7 billion ZAR) of common shares through fiscal 2025, with further plans to buy back $650 million (9.4 billion ZAR) during 2025 and another $850 million (12.3 billion ZAR) in 2025.
- This move reflects the current strength of Ross Stores, Inc.’s balance sheet as well as confidence in the company’s ability to generate excess cash after funding growth as well as several other capital needs.
- Ross Stores, Inc. aims to ensure that there is long-standing commitment to enhancing stockholder value as well as dividends paid to shareholders.
Ross Stores Investor Tip
- Ross Stores, Inc. trades its shares on the NASDAQ Stock Market (NASDAQ) under the stock symbol ROST. Ross Stores, Inc. forms part of both the NASDAQ-100 and the S&P 500
- An analysis on the market performance of Ross Stores, Inc. for the first quarter of 2025 indicate revenues of $4.52 billion (65.7 billion ZAR) and an actual Earnings Per Share (EPS) of $1.34 (19.49 ZAR).
- Ross Stores, Inc.’s results show clear improvement in the macroeconomic environment, sparking optimism regarding Ross Stores, Inc.’s prospects for the balance of the year.
- Although it is difficult to predict the lasting impact from factors which benefited the first quarter sales result, the forecast on Ross Stores, Inc.’s sales will be an increase of between 5% to 7%.
- Where long-term performance is concerned, Ross Stores, Inc. expects a significant gain in market share as well as benefits from favourable competitive climates where the large number of retail store closures and bankruptcies are concerned, especially after three waves experienced with the Covid-19 pandemic.
- There is also faith in the heightened focus on value and convenience of consumers, which bodes well for Ross Stores, Inc.’s ability to achieve solid results for the quarters to come.
- Data from the analysis should be weighed against forecasted performance during this pandemic, but for now, prices on shares and in turn dividends remain unaffected, which provides shareholders with assurance that they will have a strong buy-in on NASDAQ.
Sector
Consumer Cyclical
Industry
Apparel Retail
Sub industry
Retail
Latest News
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