Suvarna Garge (Editor)

Ross Dress for Less

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Type
  
Public

Key people
  
Barbara Rentler, CEO

Founder
  
Stuart G Moldaw

Industry
  
Retail

Revenue
  
11.94 billion USD (2015)

Ross Dress for Less pierparknorthcomwpcontentuploads201404Ross

Traded as
  
NASDAQ: ROST NASDAQ-100 Component S&P 500 Component

Founded
  
1950; 67 years ago (1950) Pacifica, California, U.S.

Products
  
Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares.

Stock price
  
ROST (NASDAQ) US$ 66.35 +0.58 (+0.88%)22 Mar, 4:00 PM GMT-4 - Disclaimer

Headquarters
  
Pleasanton, California, United States

CEO
  
Barbara Rentler (1 Jun 2014–)

Profiles

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Ross Stores, Inc., is an American chain of "off-price" (i.e., deeply discounted) department stores headquartered in Dublin, California, officially operating under the brandname, Ross Dress for Less. It is the second-largest off-price retailer in the USA, behind TJX Companies.

Contents

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

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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 Isaacson to become a residential and commercial real estate developer.Isaacson built the company to six stores, located in San Bruno, Pacifica, Novato, Vacaville, Redwood City, and Castro Valley. 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. 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.

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.

References

Ross Dress for Less Wikipedia