ROSS 'DRESS FOR LESS' GRAND OPENING 11 NEW LOCATIONS!
ROSS 'DRESS FOR LESS' GRAND OPENING 11 NEW LOCATIONS! NEWARK, Calif., July 22 /PRNewswire/ -- Ross Stores Inc. (NASDAQ: ROST) announced today that it will open eleven new Ross 'Dress For Less' stores in July and August throughout its existing markets. In commenting on these openings, Norman A. Ferber, president and chief executive officer, stated, "We target our real estate growth to achieve the goal of dominating our most important trade areas. This new group of stores reflects that strategy, with six new locations opening in California, our largest and most important state, and five additional stores opening in other key markets throughout the country." Ross is the dominant off-price retailer in California. Three new stores will open in the San Francisco Bay Area this month, in addition to new openings in San Diego, Los Angeles and Palm Desert, which will result in a new total of 101 locations throughout the state. Five additional Ross stores will open in Spokane, Wash.; Portland, Ore.; Las Vegas; St. Petersburg, Fla.; and Chantilly, Va. -- all markets where Ross already has a strong presence. With these 11 new locations, Ross will operate a total of 221 stores in 18 states. Ferber continued, "We are excited about the prospects for this well- balanced group of new stores. Today developers are renovating malls and downtown shopping districts to focus on the more value-conscious customer of the nineties. Because of this trend, we can now acquire such unique locations as our new stores in Berkeley, San Francisco and Los Angeles, that were not previously available to us. This focus on value is a priority for both Ross and our customers, and it will remain the cornerstone of all our strategies as we continue to expand throughout the 1990s." Ross recently opened eight new locations this past spring. With 11 new stores this summer, and an additional four new locations planned for the fall, there will be a total of 23 new Ross stores opening in 1992. The company plans to end the year with 225 stores in 18 states coast to coast. Ross Stores Inc. generated sales of $930 million in its 1991 fiscal year. The off-price retailer offers first quality, in-season, branded apparel and footwear for the entire family at 20 percent to 60 percent less than department and specialty store prices. -0- 7/22/92 /CONACT: Katie Loughnot of Ross Stores, 510-505-4509/ (ROST) CO: Ross Stores Inc. ST: California IN: REA SU:
MM -- SF002 -- 1809 07/22/92 11:01 EDT
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|Date:||Jul 22, 1992|
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