Ross Stores
| File:Ross Stores logo.svg Logo used since 2014 | |
| Company type | Public |
|---|---|
| Industry | Retail (off-price department stores) |
| Founded | January 1, 1950 in Pacifica, California, United States |
| Founder | Morris Ross, Bill Isackson |
| Headquarters | Dublin, California , United States |
Area served | 43 states (including Washington, D.C., Puerto Rico, and Guam; excluding New England and Alaska) |
Key people | James Conroy (CEO, effective Feb 2, 2025), K. Gunnar Bjorklund (Executive Chairman) |
| Products | Discounted apparel, footwear, home furnishings, and other merchandise |
| Revenue | US$14.89 billion (2018) |
Number of employees | 88000 (2019) |
| Website | www |
Ross Stores, Inc., known commercially as Ross Dress for Less, is a prominent American discount department store chain based in Dublin, California. It stands as the largest off-price retailer within the United States, operating 1,795 locations as of July 2024. These stores serve 43 states, including Washington, D.C., Puerto Rico, and Guam, with the exception of New England and Alaska. Additionally, the company owns DD's Discounts, a discount retail brand that operates over 353 outlets mainly situated in Sun Belt regions.
Established in 1950 by Morris Ross and Bill Isackson in Pacifica, California, Ross Stores has evolved into a significant retail force by specializing in discounted branded apparel, footwear, home furnishings, and other merchandise. The company’s model centers on off-price retailing to effectively compete against conventional department stores.
The leadership team features CEO James Conroy and Executive Chairman K. Gunnar Bjorklund. In 2018, the company reported revenues near US$14.89 billion, highlighting robust financial results fueled by strategic growth initiatives and attractive pricing strategies. Employing more than 88,000 staff members as of 2019, Ross continues to broaden its footprint domestically while maintaining a strong position in the U.S. retail landscape.
History
The origins of Ross Department Store trace back to 1950 in San Bruno, California, when entrepreneur Morris "Morrie" Ross personally oversaw purchasing and accounting functions. In 1958, ownership transferred to William Isackson, who expanded the chain to six stores across the San Francisco Bay Area. A pivotal shift occurred in 1982 when investors including Mervin Morris, founder of the Mervyn's chain, acquired these outlets and transformed them into off-price retail formats. Under the management of Stuart Moldaw and Don Rowlett, the chain expanded rapidly to 107 stores within three years.
Ross Stores, Inc. launched its initial public offering on August 8, 1985, with shares priced at $17 each. The company is traded on Nasdaq’s Global Select Market under the symbol "ROST" and is included in both the Nasdaq-100 and S&P 500 indices.
By 1995, Ross had grown to encompass 292 stores across 18 states and generated annual sales totaling $1.4 billion. Expansion continued into the early 2010s with revenues reaching $9.7 billion for fiscal year 2012; at that time, Ross operated 1,091 stores in 33 states alongside 108 DD's Discounts locations spanning eight states. The corporate headquarters relocated from Newark, California to Pleasanton, California in 2003 before moving again to its current site in Dublin, California in 2014.
Reflecting a strategic emphasis on growth and innovation in leadership, Barbara Rentler took over as CEO from Michael Balmuth on June 1, 2014, becoming the 25th woman to lead a Fortune 500 company. On October 28, 2024, James Conroy was named CEO effective February 2, 2025; Conroy brings prior experience as CEO of Boot Barn.
Supporting its expansion plans, Ross Dress for Less launched operations in Puerto Rico in 2025.
See also
External links
- Articles with short description
- Pages with broken file links
- Pages using infobox company with unknown parameters
- United States clothing retailers
- American enterprises founded in 1950
- Retail businesses founded in 1950
- Department store chains in the United States
- U.S. discount retail chains
- Businesses headquartered in Alameda County, California
- Dublin, California
- Companies traded on Nasdaq
- California establishments from 1950
- American companies established in 1950
- Companies of the United States by year of establishment
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