Ross Stores completes 2025 expansion with 40 new locations

DUBLIN - Ross Stores, Inc. (NASDAQ:ROST), a prominent player in the Specialty Retail industry with a market capitalization of $48 billion, has opened 40 new stores across 17 states during September and October, completing its fiscal 2025 expansion plans, the off-price retailer announced Monday. According to InvestingPro analysis, the company maintains a "GREAT" financial health score, positioning it well for continued expansion.

The openings include 36 Ross Dress for Less and four dd’s DISCOUNTS locations, bringing the company’s total new store count to 90 for the year. The retailer now operates 2,273 stores across 44 states, the District of Columbia, Guam, and Puerto Rico. The company’s strong market position is reflected in its consistent dividend payments, which it has maintained for 32 consecutive years, with a current dividend yield of 1.1%.

Richard Lietz, Executive Vice President of Property Development, said the company strengthened its brand presence in existing markets while expanding into new territories, particularly in the Midwest and Northeast with new Ross locations in Michigan, New Jersey, and New York.

"At dd’s, we enhanced our footprint in our core markets of California and Texas," Lietz said in a press release statement.

The company maintains its long-term growth target of at least 2,900 Ross Dress for Less and 700 dd’s DISCOUNTS locations, suggesting significant room for future expansion from its current store base.

Ross Stores, an S&P 500 and Fortune 500 company headquartered in California, reported fiscal 2024 revenues of $21.1 billion. Its business model offers name-brand and designer merchandise at discounts of 20% to 60% off department store prices at Ross locations, while dd’s DISCOUNTS provides savings of 20% to 70% off moderate department and discount store prices.

In other recent news, Ross Stores has announced the appointment of William Sheehan as the new Chief Financial Officer, effective October 1, 2025. This leadership change follows the retirement of Adam Orvos, the current CFO, who will step down on September 30, 2025. On the financial front, Ross Stores has seen several adjustments to its stock price targets by various firms. TD Cowen has raised its price target to $162 while maintaining a Buy rating, citing the company’s reinstated fiscal year 2025 guidance. UBS also increased its price target to $147, maintaining a Neutral rating, and highlighted a potential for growth compared to department store peers. Bernstein reiterated its Market Perform rating with a $147 price target, noting the company’s in-line second quarter results and conservative fiscal year guidance. Additionally, Wells Fargo raised its price target to $165, maintaining an Overweight rating, and pointed out the company’s improved performance in the second quarter with accelerating comparable sales.

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