Ross Stores NNN Properties for Sale
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| Type | Public company |
|---|---|
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| Industry | Retail |
| Founded | 1950 Pacifica, California, U.S.[1] |
| Founder | Morris Ross Bill Isackson |
| Headquarters |
,
U.S. |
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Number of locations |
1,523[2][3] |
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Area served |
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Key people |
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| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, toys, and housewares. |
| Revenue |  US$14.89 billion (2018)[4] |
| US$1.61 billion (2015) |
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| US$1.02 billion (2015) |
|
| Total assets | US$4.87 billion (2015) |
| Total equity | US$2.47 billion (2015) |
|
Number of employees |
88,100 (2019) |
| Subsidiaries | dd’s Discounts |
| Website | www |
Ross Stores: America’s second largest off-price store chain
Ross Stores, Inc. is an American chain of “off-price” or deeply discounted department stores, officially operating under the brand name, Ross Dress for Less. Headquartered in Dublin, California, it is the second-largest off-price retailer in the USA, behind TJX Companies. Morris “Morrie” Ross as Ross Department Store in San Bruno, California, founded the company during 1950. The company is operating under the name ROST, at the New York Stock Exchange. As of August 2015, Ross operates in 33 U.S. states, at 1,254 locations but with no presence in New York, New England, Alaska, northern New Jersey, and areas of the Midwest.
The company offers first quality, in-season, name brand and designer accessories, apparel, footwear and home fashions for the entire family. The discount ranges between 20% to 60% for department and specialty store regular prices every day. ROST currently operates two chains: Ross Dress for Less (Ross) and dd’s Discounts.
Current market value
The company reports its sales in six major business segments:
- 25% of net sales from Ladies section, which is the highest sales segment.
- 24% of net sales are obtained from Home Accents and Bed & Bath.
- 13% of net sales are attributed to the Men’s department.
- 13% of net sales to Accessories, Lingerie, Fine Jewelry, and Fragrances department.
- 9% of net sales Shoes
- Lastly 9% of net sales to Children’s department also.
By the end of fiscal year 2010, its Net sales increased 9.5% to $7.8 billion and Net income increased 25% to $554 million. The company reported revenue of US$ 11.94 billion by the end of fiscal year 2015. They had an operating income of US$ 1.61 billion in the same year. The company’s net income saw a rise to US$ 1.02 billion in 2015. In the same fiscal year, its assets summed up to US$ 4.87 billion and total equity was US$ 2.47 billion. As of January 2016, 77,800 employees worked for the firm.
ROST is featured in the list of Fortune 500 companies by the Fortune Magazine for the past 14 years. In 2002, it entered the list with #444 rank and went on to the 237th position from 2016. They had a total stockholder equity of US$ 2,472 million in 2016. Its reported market value as of March 31, 2016 was US$ 23,235 million.
History
The founder of ROST, 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 as he wanted to make a living as a residential and commercial real estate developer. Isaacson, further built the company to six stores, located in Pacifica, San Bruno, Vacaville, Novato, Redwood City, and Castro Valley. In 1982 Mervin Morris, founder of the Mervyns chain of department stores along with a group of investors, purchased the six Ross Department Stores in San Francisco. After this, the store format was changed to off-price retail units. Within three years of this change, the company rapidly expanded to 107 stores under Stuart Moldaw and Don Rowlett. The annual sales reached $1.4 billion by the end of 1995. They were operating 292 stores in 18 states during the same year. By 2012, ROST reached $9.7 billion for the fiscal year as it ran 1,091 stores in 33 states in addition to 108 for Dd’s Discounts in 8 states. Barbara Rentler has taken place of CEO Michael Balmuth since June 1, 2014, thereby becoming the 25th woman chief executive officer of a Fortune 500 company, Ross Stores.
The company’s strong value proposition is continuing to resonate with the bargain-hungry shoppers. Moreover, Ross is also highly rated by the Investment Banking Division. As most of the lower and middle-income groups are feeling squeezed economically over the past six years it remained a tremendous value proposition for off-price companies like ROST. Analysts see that the company’s strong track record is seen continuing amid healthy off-price retail trends.