Ross Stores
 | |
| Company type | Public |
|---|---|
| Nasdaq: ROST NASDAQ-100 Component S&P 500 Component | |
| Industry | Retail |
| Founded | 1982 Pacifica, California, U.S. |
| Founder | Bill Isackson |
| Headquarters | , U.S. |
Key people | Barbara Rentler, CEO |
| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares. |
| Revenue |  US$11.94 billion (FY 2015) |
| US$1.61 billion (FY 2015) | |
| US$1.02 billion (FY 2015) | |
| Total assets | US$4.87 billion (FY 2015) |
| Total equity | US$2.47 billion (FY 2015) |
Number of employees | 77,800 (January 2016)[1] |
| Subsidiaries | dd's Discounts |
| Website | www |
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
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
References
- ^ "10-K". www.sec.gov.
- ^ "Contact Us." Ross Stores. Retrieved on July 9, 2010.
- ^ "Ross investor presentation dated November 2014, downloaded Feb. 15, 2015".
- ^ rvl. "Ross locations & hours". www.storesinfo.com.
- ^ Pimsleur, J.L. (December 5, 1997). "Obituary -- Morris Ross". San Francisco Chronicle. Retrieved October 10, 2011.
- ^ "History of Ross Stores, Inc. – FundingUniverse". www.fundinguniverse.com.
- ^ "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 (May 8, 2014). "Ross Stores' Rentler to Be 25th Female CEO in Fortune 500". Bloomberg Business. Retrieved February 26, 2015.
- ^ "Ross moving corporate headquarters to Dublin in 2014 - January 27, 2012 - Pleasanton Weekly - PleasantonWeekly.com -". www.pleasantonweekly.com.
External links
- Official website
- Business data for Ross:
- Companies in the Nasdaq-100
- Companies listed on the Nasdaq
- Clothing retailers of the United States
- Retail companies established in 1950
- Discount stores of the United States
- Companies based in Pleasanton, California
- Companies listed on NASDAQ
- 1950 establishments in California
- Department stores based in California