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Ross Stores (ROST) Expands Market Reach With 24 Store Openings
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Ross Stores, Inc. (ROST - Free Report) , a prominent discount retailer, has been focused on strengthening its market position with an aggressive store growth strategy. As part of its strategy, the company opened 24 stores in June and July in several key states. The latest store openings included 21 Ross Dress for Less and three dd's Discounts stores across 17 states.
Inside the Headlines
The recent store openings underscore Ross Stores' commitment to expanding its footprint in established and new markets. By strategically selecting locations that align with consumer demand and market trends, Ross Stores aims to maximize its reach and profitability.
The Ross Dress for Less expansions highlight a strategic push into newer markets such as the states of Michigan, Minnesota and New York. While dd's DISCOUNTS continues to bolster its presence in key regions like California, Florida, and Texas. Following the latest openings, Ross Stores operates a total of 2,148 locations stores. These include 1,795 Ross Dress for Less stores across 43 states, the District of Columbia, and Guam and 353 dd's DISCOUNTS stores across 22 states.
The new locations are part of the company's strategy to open approximately 90 new stores in fiscal 2024, including about 75 Ross Dress for Less and 15 dd’s DISCOUNTS locations. Over the longer term, the company is optimistic about its potential to reach a total of 2,900 Ross Dress for Less and 700 dd’s DISCOUNTS locations. This represents a 20% increase in potential store growth targets, bringing it to 3,600 stores.
What’s More?
Ross Stores operates a chain of off-price retail stores offering apparel and home accessories targeted at value-conscious men and women aged 25 to 54 from middle-to-upper middle-class households. The company’s successful business model acts as a competitive bargain to make its stores attractive destinations for customers in all economic scenarios.
Its off-price model enhances product allocation and margins through strong value propositions and micro-merchandising. The company’s performance reflects robust consumer demand for value products and ROST’s ability to meet this demand effectively.
Notably, the company is broadening its reach by opening new stores in diverse regions, with an aim to enhance its presence in the off-price retail sector. This strategic expansion addresses the growing consumer demand for affordable, high-quality products.
Shares of this Zacks Rank #2 (Buy) company have rallied 9.3% in the past three months compared with the industry’s growth of 11.4%.
Image Source: Zacks Investment Research
3 Other Picks You Can’t Miss
We have highlighted three other top-ranked stocks, namely, Abercrombie & Fitch Co. (ANF - Free Report) , The Gap Inc. (GPS - Free Report) and DICK'S Sporting Goods (DKS - Free Report) .
Abercrombie & Fitch, a specialty retailer of premium, high-quality casual apparel, currently sports a Zacks Rank #1 (Strong Buy). ANF has a trailing four-quarter average earnings surprise of 210.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Abercrombie & Fitch’s current fiscal-year sales and earnings indicates growth of 10.4% and 47.3%, respectively, from the year-ago figures.
Gap, a fashion retailer of apparel and accessories, currently flaunts a Zacks Rank #1. GPS has a trailing four-quarter earnings surprise of 202.7%, on average.
The Zacks Consensus Estimate for Gap’s current financial-year sales and earnings per share suggests a rise of 0.2% and 22.4%, respectively, from the year-earlier levels.
DICK'S Sporting operates as an omni-channel sporting goods retailer. It currently carries a Zacks Rank #2. DKS has a trailing four-quarter earnings surprise of 4.7%, on average.
The Zacks Consensus Estimate for DICK’S Sporting’s current fiscal-year sales and earnings implies an improvement of 1.8% and 6.6%, respectively, from the prior-year numbers.
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Ross Stores (ROST) Expands Market Reach With 24 Store Openings
Ross Stores, Inc. (ROST - Free Report) , a prominent discount retailer, has been focused on strengthening its market position with an aggressive store growth strategy. As part of its strategy, the company opened 24 stores in June and July in several key states. The latest store openings included 21 Ross Dress for Less and three dd's Discounts stores across 17 states.
Inside the Headlines
The recent store openings underscore Ross Stores' commitment to expanding its footprint in established and new markets. By strategically selecting locations that align with consumer demand and market trends, Ross Stores aims to maximize its reach and profitability.
The Ross Dress for Less expansions highlight a strategic push into newer markets such as the states of Michigan, Minnesota and New York. While dd's DISCOUNTS continues to bolster its presence in key regions like California, Florida, and Texas. Following the latest openings, Ross Stores operates a total of 2,148 locations stores. These include 1,795 Ross Dress for Less stores across 43 states, the District of Columbia, and Guam and 353 dd's DISCOUNTS stores across 22 states.
The new locations are part of the company's strategy to open approximately 90 new stores in fiscal 2024, including about 75 Ross Dress for Less and 15 dd’s DISCOUNTS locations. Over the longer term, the company is optimistic about its potential to reach a total of 2,900 Ross Dress for Less and 700 dd’s DISCOUNTS locations. This represents a 20% increase in potential store growth targets, bringing it to 3,600 stores.
What’s More?
Ross Stores operates a chain of off-price retail stores offering apparel and home accessories targeted at value-conscious men and women aged 25 to 54 from middle-to-upper middle-class households. The company’s successful business model acts as a competitive bargain to make its stores attractive destinations for customers in all economic scenarios.
Its off-price model enhances product allocation and margins through strong value propositions and micro-merchandising. The company’s performance reflects robust consumer demand for value products and ROST’s ability to meet this demand effectively.
Notably, the company is broadening its reach by opening new stores in diverse regions, with an aim to enhance its presence in the off-price retail sector. This strategic expansion addresses the growing consumer demand for affordable, high-quality products.
Shares of this Zacks Rank #2 (Buy) company have rallied 9.3% in the past three months compared with the industry’s growth of 11.4%.
Image Source: Zacks Investment Research
3 Other Picks You Can’t Miss
We have highlighted three other top-ranked stocks, namely, Abercrombie & Fitch Co. (ANF - Free Report) , The Gap Inc. (GPS - Free Report) and DICK'S Sporting Goods (DKS - Free Report) .
Abercrombie & Fitch, a specialty retailer of premium, high-quality casual apparel, currently sports a Zacks Rank #1 (Strong Buy). ANF has a trailing four-quarter average earnings surprise of 210.3%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Abercrombie & Fitch’s current fiscal-year sales and earnings indicates growth of 10.4% and 47.3%, respectively, from the year-ago figures.
Gap, a fashion retailer of apparel and accessories, currently flaunts a Zacks Rank #1. GPS has a trailing four-quarter earnings surprise of 202.7%, on average.
The Zacks Consensus Estimate for Gap’s current financial-year sales and earnings per share suggests a rise of 0.2% and 22.4%, respectively, from the year-earlier levels.
DICK'S Sporting operates as an omni-channel sporting goods retailer. It currently carries a Zacks Rank #2. DKS has a trailing four-quarter earnings surprise of 4.7%, on average.
The Zacks Consensus Estimate for DICK’S Sporting’s current fiscal-year sales and earnings implies an improvement of 1.8% and 6.6%, respectively, from the prior-year numbers.