Ross Stores Inc.
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| Ross Stores, Inc. | |
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| Type | Department store |
| Founded | 1957 (San Bruno, California) |
| Headquarters | Pleasanton, California |
| Key people | Michael Balmuth, CEO |
| Industry | Retail |
| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares. |
| Website | http://www.rossstores.com/ |
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Ross Stores, Inc. NASDAQ: ROST is a chain of American off-price department stores. It is the nation's third largest off-price retailer with fiscal 2005 revenues of $4.9 billion. As of February 3, 2007, the company operated 771 Ross stores in 27 U.S. states and Guam,[1] covering most of the country except for New England, Alaska, and a large area of the midwest.[2]
Ross offers brand name clothing, footwear, bedding, furniture, fine jewelry, beauty products, and housewares. All merchandise is 20 - 60% below regular department and specialty store prices.
[edit] History
Ross Department Store was first opened in San Bruno, California, in 1957 by Adali Baer.[3] The next store was established in Pacifica, California, in the late 1950s. The format of Ross was changed to an off-price department store in 1982.[3]
Ross also operates the dd's Discounts chain of clothing and furniture stores, designed to cater to lower-income consumers with prices below those of the main Ross stores. 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. While a part of the same company, both stores operate completely independently and carry different merchandise assortments. In 1984, Ross acquired the Plumas chain from Target.[3]
