Ross Stores opens 51 new locations in September and October

Ross Stores is betting big on the American shopper. The off-price retailer just finished a massive two-month sprint, opening 51 new locations across 17 states in September and October. This push completes their goal of 115 new stores for the fiscal year. Richard Lietz, the executive vice president of property development, said the company is now moving into Massachusetts for the first time. Ross Dress for Less and their sister brand, DD’s Discounts, now operate 2,377 stores from Guam to New York. While other retailers like Sleep Number are restructuring, Ross is posting massive gains. Their second-quarter sales jumped 13% to $6.3 billion. Even more surprising, their net earnings skyrocketed 68% to $851.3 million. This growth comes as shoppers flock to discount racks to stretch their budgets. The company has a clear map for the future, aiming for 3,600 total locations across both brands. For you, this means more competition for your local retail space and a wider selection of goods if you are a shopper. When a company grows this fast while others are filing for bankruptcy, it usually means they found exactly what the customer wants. It seems the only thing growing faster than their store count is their profit margin. If they keep this up, they might eventually be the only store left in the strip mall.