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Ross Stores

Ross Stores
Public
S&P 500 Component
NASDAQ-100 Component
Traded as NASDAQ: ROST
Industry Retail
Founded Pacifica, California (1950)
Founder Bill Isackson
Headquarters Dublin, California, U.S.
Key people
Barbara Rentler, CEO
Products Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares.
Revenue US$9.72 Billion (FY 2012)[1]
US$1.27 Billion (FY 2012)[1]
US$787 Million (FY 2012)[1]
Total assets US$3.67 Billion (FY 2012)[2]
Total equity US$1.77 Billion (FY 2012)[2]
Number of employees
57,500 (January 2013) [3]
Subsidiaries dd's Discounts
Website .com.rossstoreswww

Ross Stores, Inc., is an American chain of off-price department stores headquartered in Dublin, California,[4] operating under the name Ross Dress for Less. It is the largest off-price retailer in the United States, though T.J. Maxx and Marshalls combined, both of which are owned by TJX Companies, would be larger together.

As of August 2015 Ross operates 1,254 locations in 33 U.S. states, the District of Columbia and Guam,[5] covering much of the country, but with no presence in New England, New York, northern New Jersey, Alaska, and areas of the Midwest.[6]

Contents

  • History 1
  • See also 2
  • References 3
  • External links 4

History

A Ross store in Hillsboro, Oregon

Ross Department Store was first opened in Pacifica, 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 become a residential and commercial real estate developer.[7] In 1982 a group of investors, including Mervin Morris, founder of the Mervyns chain of department stores, purchased the six Ross Department Stores in San Francisco, 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.[8][9] 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.[10]

Barbara Rentler took the place of CEO Michael Balmuth on June 1, 2014, thereby becoming the 25th woman chief executive officer of a Fortune 500 company, Ross Stores.[11]

See also

References

  1. ^ a b c Ross Stores (ROST) annual SEC income statement filing via Wikinvest
  2. ^ a b Ross Stores (ROST) annual SEC balance sheet filing via Wikinvest
  3. ^ Ross website http://phx.corporate-ir.net/phoenix.zhtml?c=64847&p=irol-faq#5182
  4. ^ "Contact Us." Ross Stores. Retrieved on July 9, 2010.
  5. ^ Ross investor presentation dated November 2014, downloaded Feb. 15, 2015
  6. ^ Ross Store Locator
  7. ^ Pimsleur, J.L. (December 5, 1997, B8). "Obituary -- Morris Ross". San Francisco Chronicle. Retrieved 10 October 2011. 
  8. ^ Ross Stores Company History
  9. ^ "Ross Stores, Inc. - Company Profile, Information, Business Description, History, Background Information on Ross Stores, Inc.". referenceforbusiness.com. referenceforbusiness. Retrieved June 21, 2014. 
  10. ^ "Overview: Historical Highlights". Ross Dress for Less. Retrieved June 21, 2014. 
  11. ^ Rupp, Lindsey (8 May 2014). "Ross Stores’ Rentler to Be 25th Female CEO in Fortune 500". Bloomberg Business. Retrieved 26 February 2015. 

External links

  • Official website
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