Key Stats
Ross Stores operates as the largest off-price apparel and home fashion retailer in the United States. The company provides brand-name and designer merchandise at discounts ranging from 20% to 60% off department store prices.
Founded in 1950, Ross Stores transformed from a single department store into a retail powerhouse with over 2,200 locations. The Dublin, California-based company operates two distinct brands serving value-conscious consumers nationwide.
Ross Dress for Less and dd’s Discounts offer clothing, accessories, footwear, and home fashions for the entire family. The business model focuses on purchasing excess inventory from manufacturers and retailers at reduced prices, then passing savings to customers.
Ross Stores History
Ross Stores Co-founders
Ross Stores Revenue
Ross Stores demonstrates consistent revenue growth in the competitive off-price retail sector. The company generated fiscal 2024 revenues of $21.13 billion, marking a 3.7% increase from the previous year.
This growth trajectory reflects strong consumer demand for value-oriented shopping options and successful expansion into new markets across the United States and territories.
Ross Stores Market Cap
Ross Stores maintains a robust market capitalization of approximately $50.84 billion as of October 2025. The company trades on the Nasdaq Stock Market under the ticker symbol ROST.
As an S&P 500 and Fortune 500 component, Ross Stores represents one of the most valuable specialty retail companies in the United States market.
Ross Stores Acquisitions
Ross Stores has pursued a distinctive growth strategy focused on organic expansion rather than major acquisitions. The company itself underwent significant transformation when acquired in 1982 by a group of investors led by Stuart Moldaw and Donald Rowlett, with participation from Mervin Morris, founder of Mervyns department stores.
During the early expansion phase in 1984, Ross Stores acquired 15 retail locations from the Handyman division of Edison Brothers Stores. This strategic acquisition enabled rapid entry into Texas and Oklahoma markets, adding established store locations that could be quickly converted to the Ross Dress for Less format. The Handyman acquisition represented a critical milestone in the company’s geographic diversification beyond California.
Unlike many retail competitors that pursued aggressive merger and acquisition strategies, Ross Stores chose to focus resources on opening new stores in strategic locations. The company typically acquires existing retail spaces in strip malls and freestanding locations abandoned by other retailers, converting them into Ross Dress for Less or dd’s Discounts locations. This approach minimizes capital expenditure while allowing rapid market penetration.
In 2004, rather than acquiring an existing discount chain, Ross Stores internally developed dd’s Discounts to target a different customer demographic. This organic growth initiative allowed the company to maintain operational control and brand consistency across both retail formats. The dd’s Discounts concept specifically addresses moderate-income households seeking even deeper discounts than traditional off-price retailers provide.
The company’s expansion strategy emphasizes real estate acquisitions over business acquisitions. Ross Stores systematically identifies locations in both mature and emerging markets, focusing on areas with strong demographics and limited off-price retail competition. This disciplined approach has enabled sustainable growth without the integration challenges associated with large-scale corporate acquisitions.
Ross Stores continues to reinvest profits into store expansion and infrastructure improvements rather than pursuing external acquisitions. Management maintains long-term targets of 2,900 Ross Dress for Less locations and 700 dd’s Discounts stores, suggesting continued organic growth remains the primary strategic focus for market share expansion.
Ross Stores Competitors
Ross Stores competes in the highly competitive off-price retail sector against several major chains. The company faces direct competition from TJX Companies, which operates TJ Maxx and Marshalls stores nationwide.
Other significant competitors include Burlington Stores, Nordstrom Rack, and various regional discount retailers that target similar customer demographics seeking brand-name merchandise at reduced prices.
| Competitor | Description |
|---|---|
| TJX Companies | Operates TJ Maxx, Marshalls, and HomeGoods; largest off-price retailer with over $50 billion in annual revenue |
| Burlington Stores | Off-price department store chain with approximately 1,000 locations across 40 states |
| Nordstrom Rack | Off-price division of Nordstrom offering upscale designer merchandise at discount prices |
| Target Corporation | Discount retailer offering apparel, home goods, and general merchandise at competitive prices |
| Walmart | Mass merchandiser competing on price across multiple product categories including apparel |
| Kohl’s | Department store chain offering brand-name merchandise with frequent promotional discounts |
| Saks Off 5th | Luxury off-price retailer offering high-end designer brands at reduced prices |
| Century 21 | Designer discount department store operating in select markets |
| Amazon | E-commerce giant offering competitive pricing on apparel and home goods online |
| Nordstrom | Full-line department store competing in the fashion retail space with premium positioning |
FAQs
When was Ross Stores founded and who started the company?
Morris Ross founded Ross Stores in 1950, opening the first department store in San Bruno, California. Stuart Moldaw and Donald Rowlett later acquired and transformed it into an off-price retailer in 1982.
What is the difference between Ross Dress for Less and dd’s Discounts?
Ross Dress for Less offers brand-name merchandise at 20-60% off department store prices, while dd’s Discounts provides 20-70% savings off moderate department and discount store prices targeting budget-conscious shoppers.
How many Ross Stores locations are there in the United States?
Ross Stores operates 2,273 locations as of October 2025, including 1,909 Ross Dress for Less stores and 364 dd’s Discounts locations across 44 states, District of Columbia, Guam, and Puerto Rico.
Does Ross Stores have an online shopping website?
Ross Stores does not offer e-commerce shopping, focusing exclusively on in-store treasure-hunt experiences. The company believes physical stores provide better value discovery than online platforms for off-price merchandise.
Who are Ross Stores’ main competitors in off-price retail?
Ross Stores competes primarily with TJX Companies (TJ Maxx, Marshalls), Burlington Stores, Nordstrom Rack, and Target in the value-oriented retail sector across the United States.
