Ross Stores

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Ross Stores, Inc.
Public
Traded asNASDAQROST
NASDAQ-100 Component
S&P 500 Component
IndustryRetail
Founded1982; 36 years ago (1982)
Pacifica, California, U.S.
FounderMorris Ross
Bill Isackson
HeadquartersDublin, California, U.S.
Key people
Barbara Rentler, CEO
ProductsClothing, footwear, bedding, furniture, jewelry, beauty products, and housewares.
RevenueIncrease US$11.94 billion (FY 2015)
Increase US$1.61 billion (FY 2015)
Increase US$1.02 billion (FY 2015)
Total assetsIncrease US$4.87 billion (FY 2015)
Total equityIncrease US$2.47 billion (FY 2015)
Number of employees
77,800 (January 2016)[1]
Subsidiariesdd's Discounts
Websitewww.rossstores.com

Ross Stores, Inc. is an American chain of off-price department stores headquartered in Dublin, California,[2] officially operating under the brandname, Ross Dress for Less. It is the largest off-priced retailer in the U.S. As of August 2015, Ross operates 1,412 stores in 37 U.S. states, the District of Columbia and Guam,[3] covering much of the country, but with no presence in New England, New York, northern New Jersey, Alaska, and areas of the Midwest.[4]

History[edit]

A Ross store in Hillsboro, Oregon

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.[5] Isackson 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.[6][7] 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.[8] Ross moved its headquarters from Newark 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.[9] Ross moved its headquarters from Pleasanton to neighboring Dublin, California in 2014.[10]

See also[edit]

References[edit]

  1. ^ "10-K". www.sec.gov.
  2. ^ "Contact Us." Ross Stores. Retrieved on July 9, 2010.
  3. ^ "Ross investor presentation dated November 2014, downloaded Feb. 15, 2015".
  4. ^ rvl. "Ross locations & hours". www.storesinfo.com.
  5. ^ Pimsleur, J.L. (December 5, 1997). "Obituary -- Morris Ross". San Francisco Chronicle. Retrieved October 10, 2011.
  6. ^ "History of Ross Stores, Inc. – FundingUniverse". www.fundinguniverse.com.
  7. ^ "Ross Stores, Inc. - Company Profile, Information, Business Description, History, Background Information on Ross Stores, Inc". referenceforbusiness.com. referenceforbusiness. Retrieved June 21, 2014.
  8. ^ "Overview: Historical Highlights". Ross Dress for Less. Retrieved June 21, 2014.
  9. ^ Rupp, Lindsey (May 8, 2014). "Ross Stores' Rentler to Be 25th Female CEO in Fortune 500". Bloomberg Business. Retrieved February 26, 2015.
  10. ^ "Ross moving corporate headquarters to Dublin in 2014 - January 27, 2012 - Pleasanton Weekly - PleasantonWeekly.com -". www.pleasantonweekly.com.

External links[edit]