Ross Stores will open 100 locations in 2020, including the 19 Ross Dress for Less and seven dd’s DISCOUNTS locations that have already opened this year. The expansion will include 75 Ross and 25 dd’s shops in total, and the retailer sees room to grow from its current 1,800-store footprint to a total of 3,000.
Ross is expanding in the wake of a successful Q4 2019, including a 4% same-store sales increase. While the retailer expects slower sales growth of 1% to 2% during the coming quarter due to economic and supply chain issues stemming from COVID-19, its expansion plans won’t be impacted.
Discount retailers in general have been posting strong results this month. Dollar Tree is planning to renovate 1,250 Family Dollar stores this year as the company builds on its own strong 2019 momentum, and Dollar General is expected to report annual year-over-year sales growth in the low 8% range on March 12, according to The Motley Fool.