Ross Stores
Ross Stores, Inc.
Public
Traded as NASDAQROST
NASDAQ-100 Component
S&P 500 Component
Industry Retail
Founded 1982; 36 years ago (1982)
Pacifica, California, U.S.
Founder Bill Isackson
Headquarters Dublin, California, U.S.
Key people
Barbara Rentler, CEO
Products Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares.
Revenue IncreaseUS$11.94 billion (FY 2015)
IncreaseUS$1.61 billion (FY 2015)
IncreaseUS$1.02 billion (FY 2015)
IncreaseUS$4.87 billion (FY 2015)
IncreaseUS$2.47 billion (FY 2015)
Number of employees
77,800 (January 2016)[1]
Subsidiaries dd's Discounts
Website www.rossstores.com

Ross is an American chain of "off-price" (i.e., deeply discounted) 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

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 Isaacson to become a residential and commercial real estate developer.[5] 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.[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, thereby becoming the 25th woman chief executive officer of a Fortune 500 company, Ross Stores.[9] Ross also moved its headquarters from Pleasanton to neighboring Dublin, California in 2014.[10]

In popular culture

  • Ross Dress for Less is featured in Sons A Witches, a Halloween-themed episode of South Park. Eric calls the store "the creepiest place in town".

See also

References

  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 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 2014. 
  8. ^ "Overview: Historical Highlights". Ross Dress for Less. Retrieved 2014. 
  9. ^ Rupp, Lindsey (May 8, 2014). "Ross Stores' Rentler to Be 25th Female CEO in Fortune 500". Bloomberg Business. Retrieved 2015. 
  10. ^ "Ross moving corporate headquarters to Dublin in 2014 - January 27, 2012 - Pleasanton Weekly - PleasantonWeekly.com -". www.pleasantonweekly.com. 

External links


  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.
Ross_Stores
 



 

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