Ross Stores: Difference between revisions
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[[File:Ross Dress for Less store - Hillsboro, Oregon.jpg|thumb|right|A Ross store in [[Hillsboro, Oregon]]]] |
[[File:Ross Dress for Less store - Hillsboro, Oregon.jpg|thumb|right|A Ross store in [[Hillsboro, Oregon]]]] |
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The 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.<ref name=Morrie>{{cite news|last=Pimsleur|first=J.L.|title=Obituary -- Morris Ross|url=http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/1997/12/05/MN52549.DTL|accessdate=10 October 2011|newspaper=San Francisco Chronicle|date=December 5, 1997, B8}}</ref> 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, California|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.<ref name=ross>[http://www.fundinguniverse.com/company-histories/Ross-Stores-Inc-Company-History.html Ross Stores Company History]</ref><ref>{{cite web|title=Ross Stores, Inc. - Company Profile, Information, Business Description, History, Background Information on Ross Stores, Inc.|url=http://www.referenceforbusiness.com/history2/12/Ross-Stores-Inc.html|website=referenceforbusiness.com|publisher=referenceforbusiness|accessdate=June 21, 2014}}</ref> 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 Discount in 8 states.<ref>{{cite web|title=Overview: Historical Highlights|url=http://phx.corporate-ir.net/phoenix.zhtml?c=64847&p=irol-history|publisher=Ross Dress for Less|accessdate=June 21, 2014}}</ref> |
The 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.<ref name=Morrie>{{cite news|last=Pimsleur|first=J.L.|title=Obituary -- Morris Ross|url=http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/1997/12/05/MN52549.DTL|accessdate=10 October 2011|newspaper=San Francisco Chronicle|date=December 5, 1997, B8}}</ref> 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, California|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.<ref name=ross>[http://www.fundinguniverse.com/company-histories/Ross-Stores-Inc-Company-History.html Ross Stores Company History]</ref><ref>{{cite web|title=Ross Stores, Inc. - Company Profile, Information, Business Description, History, Background Information on Ross Stores, Inc.|url=http://www.referenceforbusiness.com/history2/12/Ross-Stores-Inc.html|website=referenceforbusiness.com|publisher=referenceforbusiness|accessdate=June 21, 2014}}</ref> 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 Discount in 8 states.<ref>{{cite web|title=Overview: Historical Highlights|url=http://phx.corporate-ir.net/phoenix.zhtml?c=64847&p=irol-history|publisher=Ross Dress for Less|accessdate=June 21, 2014}}</ref> |
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[[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.<ref>{{cite web|last1=Rupp|first1=Lindsey|title=Ross Stores’ Rentler to Be 25th Female CEO in Fortune 500|url=http://www.bloomberg.com/news/articles/2014-05-07/ross-says-merchandising-chief-rentler-to-become-ceo|publisher=Bloomberg Business|accessdate=26 February 2015|date=8 May 2014}}</ref> |
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===dd's Discounts=== |
===dd's Discounts=== |
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Revision as of 10:01, 26 February 2015
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| Company type | Public S&P 500 Component NASDAQ-100 Component |
|---|---|
| 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 | www |
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 third largest off-price retailer in the United States, behind T.J. Maxx and Marshalls, both of which are owned by TJX Companies.
As of November 2014 Ross operates 1,214 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]
History
The 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 Discount 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]
dd's Discounts
Ross also operates dd's Discounts, a chain of 152 clothing and furniture stores in 15 states, with prices below those of the main Ross stores. The "dd's" stands for "deep discounts". Ross and dd's Discounts stores often operate side by side in space formerly used by a large box store such as a grocery store and then subdivided.
References
- ^ a b c Ross Stores (ROST) annual SEC income statement filing via Wikinvest
- ^ a b Ross Stores (ROST) annual SEC balance sheet filing via Wikinvest
- ^ Ross website http://phx.corporate-ir.net/phoenix.zhtml?c=64847&p=irol-faq#5182
- ^ "Contact Us." Ross Stores. Retrieved on July 9, 2010.
- ^ Ross investor presentation dated November 2014, downloaded Feb. 15, 2015
- ^ Ross Store Locator
- ^ Pimsleur, J.L. (December 5, 1997, B8). "Obituary -- Morris Ross". San Francisco Chronicle. Retrieved 10 October 2011.
{{cite news}}: Check date values in:|date=(help) - ^ Ross Stores Company History
- ^ "Ross Stores, Inc. - Company Profile, Information, Business Description, History, Background Information on Ross Stores, Inc". referenceforbusiness.com. referenceforbusiness. Retrieved June 21, 2014.
- ^ "Overview: Historical Highlights". Ross Dress for Less. Retrieved June 21, 2014.
- ^ Rupp, Lindsey (8 May 2014). "Ross Stores' Rentler to Be 25th Female CEO in Fortune 500". Bloomberg Business. Retrieved 26 February 2015.
