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Ross Stores - Wikipedia

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(Redirected from Ross Dress for Less)

Ross Stores, Inc.


Trade name	Ross Dress for Less
Company type	Public
Traded as	Nasdaq: ROST Nasdaq-100 component S&P 500 component
Industry	Retail
Founded	1950 Pacifica, California, U.S.^[1]
Founder	Morris Ross Bill Isackson
Headquarters	Dublin, California , U.S.
Number of locations	1,795 (Ross Dress for Less)^[2] 353 (DD's Discounts)^[3]
Area served	United States Washington, D.C. Guam
Key people	Barbara Rentler (CEO) K. Gunnar Bjorklund (executive chairman) Michael Balmuth (president) Michael J. Hartshorn (COO)
Products	Clothing, footwear, bedding, bath, furniture, home decor, jewelry, beauty products, toys, appliances, housewares, and giftware.
Revenue	US$14.89 billion (2018)^[4]
Operating income	US$1.61 billion (2015)
Net income	US$1.02 billion (2015)
Total assets	US$4.87 billion (2015)
Total equity	US$2.47 billion (2015)
Number of employees	88,100 (2019)
Subsidiaries	dd's Discounts
Website	rossstores.com ddsdiscounts.com
Footnotes / references ^[5]

Ross Stores, Inc., operating under the brand name Ross Dress for Less, is an American chain of discount department stores headquartered in Dublin, California.^[6] It is the largest off-price retailer in the U.S.; as of July 2024, Ross operates 1,795 stores in 43 U.S. states, Washington, D.C. and Guam,^[7] covering much of the country, but with no presence in New England, Alaska, and areas of the Midwest.^[8] The company also operates DD's Discounts, a discount department store chain with over 353 locations across the United States, most of which are located in Sun Belt states.^[9]

History

Ross Department Store was first opened in San Bruno, California, in 1950 by Morris "Morrie" Ross. Morris would work 85 hours a week doing all of the buying and bookkeeping for his department store. In 1958 Ross sold his store to William Isackson to become a residential and commercial real estate developer.^[10] Isackson built the company to six stores in the San Francisco Bay Area, located in San Bruno, Pacifica, Novato, Vacaville, Redwood City, and Castro Valley. In 1982 a group of investors, including Mervin Morris, founder of the Mervyn's chain of department stores, purchased the six Ross Department Stores, changed the format to off-price retail units, and within three years rapidly expanded the chain to 107 stores under Stuart Moldaw and Don Rowlett.^[11]^[12] By the end of 1995 the chain reached an annual sales of $1.4 billion with 292 stores in 18 states. By 2012 Ross reached $9.7 billion for the fiscal year with 1,091 stores in 33 states with an additional 108 for DD's Discounts in 8 states.^[13] Ross moved its headquarters from Newark, California, to Pleasanton, California, in the Tri-Valley area, in 2003.

Barbara Rentler took the place of CEO Michael Balmuth on June 1, 2014; she was the 25th female CEO of a Fortune 500 company.^[14] Ross moved its headquarters from Pleasanton to neighboring Dublin, California, in 2014.^[15]

On October 28, 2024, the board of directors appointed James Conroy as the new CEO, succeeding Barbara Rentler effective February 2, 2025.^[16] Conroy previously served as CEO of Boot Barn.