Ross Stores
American discount department store chain From Wikipedia, the free encyclopedia
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]
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| Ross Dress for Less | |
| Company type | Public |
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| Industry | Retail |
| Founded | 1950 Pacifica, California, U.S.[1] |
| Founder | Morris Ross Bill Isackson |
| Headquarters | , U.S. |
Number of locations | |
Area served |
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Key people |
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| Products | Clothing, footwear, bedding, bath, furniture, home decor, jewelry, beauty products, toys, appliances, housewares, and giftware. |
| Revenue | US$14.89 billion (2018)[4] |
| US$1.61 billion (2015) | |
| 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 | |
| Footnotes / references [5] | |
History
Summarize
Perspective
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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 was CEO of Boot Barn.
See also
References
External links
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