Ross on track to add 90 new stores

Ross Stores has opened 31 stores so far this summer, putting it on track to add 90 new stores this year.

The extreme value retailer has bowed 24 Ross Dress for Less and seven dd's Discounts stores in 15 states during June and July.

"These recent openings reflect our ongoing strategy to expand our store base across both new and existing markets," said Jim Fassio, president and chief development officer. "The 31 new locations include the addition of ten stores in our newer Midwest market, with four of those locations in our newest state of Wisconsin."

The goal for 2016 is to add a total of 90 new locations: 70 Ross stores and 20 under the dd's Discounts banner.

"Over the longer-term, we continue to see expansion opportunities across all of our markets, and remain confident in our ability to grow to 2,000 Ross Dress for Less and 500 dd's Discounts locations over time," Fassio said.

The extreme value segment of retail is growing rapidly at the expense of more traditional, or legacy, retailers. Department stores are responding with value-oriented formats of their own, including Macy's Backstage, Nordstrom's Rack, Saks Off 5th and Kohl's Off-Aisle.

For more:
- see this Ross press release

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