ROSS STORES, INC., also known as ROST, is a leading company in U.S-based off-price retail apparel and home fashion. Registered on the NASDAQ stock exchange, ROST is the parent company of Ross Dress for Less (“Ross") and dd’s DISCOUNTS stores. Boasting over 1,800 stores in 40 states, including the District of Columbia and Guam, their reach is enormous, making it the largest off-price apparel and home fashion chain in the United States in terms of the number of stores.
Founded in 1982 in Pacifica, California by Stuart Moldaw, Ross Stores, Inc. started as a small, six-store chain, but has dynamically evolved into a retail giant. Although many retailers struggled during the 2008 economic recession, Ross Stores thrived, demonstrating its resilience and adaptability even amid challenging times. This was largely due to its unique business model that centers on selling name-brand products at significantly lower prices compared to other department stores.
In Ross Stores, customers can find a broad variety of name brand and designer apparel, accessories, footwear, and home fashions for the entire family. A distinct feature about shopping with ROST is the significant discount, typically between 20-60% off of regular department store prices. Their slogan, "Dress for Less", encapsulates the company's commitment to providing high-quality products at an affordable price.
In addition to providing customers with great deals, the company is dedicated to supporting local communities and nationwide causes. The Ross Stores Foundation provides financial grants to nonprofit organizations that prepare children for a bright future. Moreover, Ross Stores contributes to environmental sustainability by committing to energy reduction strategies across their stores and distribution centers.
While traditional department stores invest heavily in sales staff and store displays, Ross maintains a no-frills shopping experience, cutting costs where it can. This includes relying on "opportunistic purchasing" - buying merchandise from department stores that have bought too much and need to clear space.
As of today, ROST is a Fortune 500 and S&P 500 company with a robust business model and a clear strategy for continuous success. Under the guidance of CEO Barbara Rentler, who was recognized in 2016 by Forbes as one of the most powerful women in the U.S., the company continues to grow and outperform expectations in the retail sector.
In an era where e-commerce is taking over traditional retail, Ross Stores, Inc. has demonstrated the strength and sustainability of the off-price model in the physical retail landscape. The company's continued growth and performance are a testament to its enduring appeal with consumers who love a bargain.
In summary, Ross Stores, Inc. is not just a retail leader in offering high-quality, in-season, name-brand, and designer apparel, as well as home fashions at attractive discounts, but it also embodies a corporate model of community support, environmental sustainability, and consistent resilience in the face of retail industry's challenges.