S&P Rated: Investment Grade A-
Current Annual Revenue: $10.23 billion
Current Gross Profit: $2.87 billion
Current Annual Net Income: $837.30 million
2014 Fiscal Yr. Revenue Growth: 5.24%
Ross Stores, Inc. (NASDAQ: ROST), which owns and operates Ross Dress for Less, Inc., is the second-largest North American off-price retailer by both revenue and market cap. It is a component of the S&P 500, Fortune 500, and Nasdaq 100. The first store was opened by Morris Ross in 1950, and the company has grown to operate 1,173 stores throughout 33 states, Washington D. C., and Guam as of March 2014. Ross is able to offer new, name brand and designer apparel, accessories, footwear, and home decor at low prices by opportunistically purchasing overruns, goods returned by full-price retailers, canceled orders, closeouts, and other discounts.
Ross also owns and operates dd's Discounts, which opened in 2004 and now has 108 stores throughout eight different states. dd's (Deep Discounts) retails brand name clothing, house ware, and furnishings at even lower prices than Ross. The dd's brand emphasizes its positive impact on local communities in part by giving back through partnerships with First Book and the Boys and Girls Clubs of America. Ross Stores, Inc. (S&P A-) is typically the guarantor of dd's leases.Written By: Staff