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Ross Stores reaches halfway mark

Posted July 26, 2021

Anne Stych, Staff Writer, Bizwomen
Jul 20, 2021, 10:16am EDT

Ross Stores reaches halfway mark of FY 2021 expansion plan

Ross Stores Inc. said it opened 30 stores in June and July, part of an overall plan to add approximately 60 new locations during fiscal 2021.

The 22 Ross Dress for Less and eight dd’s Discounts stores opened across 11 different states and reflect an ongoing commitment to expand the two chains, the company said.

“This summer, we expanded our presence in our largest markets of California, Florida, and Texas, and also added locations in newer states, including Illinois for dd’s as well as Ohio and West Virginia for Ross,” said Gregg McGillis, group executive vice president, property development.
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Ross CEO offers conservative forecast despite big sales gain

“Looking ahead, we remain confident in our ability to grow to at least 2,400 Ross Dress for Less and 600 dd’s Discounts locations over time,” McGillis said.

The company currently has a total of 1,896 locations in 40 states, the District of Columbia, and Guam.

On an earnings call in May, Ross Stores Inc. CEO Barbara Rentler said that the company’s performance for its fiscal first quarter ended May 1 “significantly exceeded” expectations as consumers spent stimulus checks and returned to stores after the Covid-19 vaccine became more widely available.

For its fiscal first quarter ending May 1, the Dublin, California-based retailer saw sales improve to $4.52 billion, more than 250% higher than the same quarter last year and 13% higher than the comparable period in 2019.

The company had fiscal 2020 revenues of $12.5 billion.

Rentler said was optimistic about the rest of the year but gave more conservative year-end guidance because some factors — such as pent-up demand and the government stimulus payments — won’t be in play going forward.

Signage is Up at My Salon Suite in Florence

Posted July 21, 2021

Signage is up! My Salon Suite is coming soon to Village at the Mall in Florence, KY.

Edge brokers Zachary Schunn represented the landlord and Mike Halonen represented the tenant in this deal. Ask Zachary Schunn about remaining vacancy.

With 30 new stores in June and July, Ross sticks to plan for 3K locations

Posted July 19, 2021

Ross sticks to plan for 3K locations

Retail Dive

Published July 19, 2021

Daphne HowlandSenior Reporter

Dive Brief:

Continuing the expansion of its brick-and-mortar footprint despite surges in online apparel spending, Ross Stores on Monday said that it opened 30 new stores in 11 states in June and July.
The 22 new Ross Dress for Less and eight new DD’s Discounts stores are part of the off-price retailer’s plans for 60 new stores (40 of them Ross locations) during fiscal 2021, according to a company press release.
The company, under both banners, runs a total of 1,896 stores in 40 states, the District of Columbia and Guam, and aims for at least 2,400 Ross and 600 DD’s stores “over time,” per its release.

The pandemic may have accelerated a permanent shift of some degree toward e-commerce, including online apparel sales. But, while that may have department stores like Macy’s, Nordstrom, Saks Fifth Avenue and Neiman Marcus all scrambling to bolster their digital operations and close stores, off-pricer Ross is sticking with its pre-pandemic brick-and-mortar goals.

That means more stores for Ross, not fewer. And it still means zero e-commerce. In fact, Ross had the audacity to open nearly 40 new stores last year in the midst of a raging pandemic. To be sure, that was less than half of the nearly 100 the company opened in 2019. Still, the company’s long-term goal of running 3,000 stores was forged before the pandemic hit, and property development chief Gregg McGillis said in a statement that it remains confident of hitting that mark.

“These recent openings reflect our ongoing commitment to expanding our two chains,” McGillis said. “This summer, we expanded our presence in our largest markets of California, Florida, and Texas, and also added locations in newer states, including Illinois for dd’s as well as Ohio and West Virginia for Ross.”

Ross and its off-price rivals TJX Cos. and Burlington have long focused on physical retail in order to offer a “treasure hunt” atmosphere and eschewed e-commerce to protect margins, making last year especially tough without an online channel. Recovery in the first quarter was swift as stores reopened, however.

While Monday’s announcement was par for the course at Ross, store openings this year have picked up their pace industry-wide. Coresight Research recently tallied a 41.8% increase in store opening announcements year over year, just below the 4,626 closures announced to that point this year. In recent years, closures have far surpassed new stores.

Edge is pleased to announce…

Posted July 19, 2021

My Salon Suite is now open at Harper’s Point!

Posted May 16, 2021

Mike Halonen represents My Salon Suite and negotiated the deal for the newest location at Harper’s Point. 11310 Montgomery Road, Suite 218, Cincinnati Ohio 45249.
Also NOW OPEN: Yankee Station in Dayton, OH and Patchen Square in Lexington, KY

About this location

MY SALON Suite is now leasing 27 private, upscale salon suites to established beauty and wellness professionals who want to be in business for themselves. We strive to help these professionals become independent business leaders and support them on this great journey. We are located at the Shops at Harper’s Point Shopping Center, very close to the Shops at Harpers Point and Kroger on the 2nd floor level.

The Shops at Harpers Point is conveniently located off I-71 and I-275, The Shops offers a diverse blend of dining, retail, and service establishments where you can enjoy a day of shopping, lunch, or spend the evening spending quality time with friends and family. There’s plenty of easy, on-site parking for your convenience.