Ross Stores Just Opened 28 New Locations

The stock market is up again today. This could be our fourth up day in the last five sessions. The S&P 500 is getting close to rising back above its 50-day moving average.

While the stock market is open for Columbus Day, the bond market is closed as are many government offices. There are no major economic reports today.

Ross Stores (ROST) said it opened 28 new locations in September and October.

“This fall, we continued to expand our Ross and dd’s footprints across our existing markets as well as in our newer states. In addition to openings in California, Florida, and Texas, Ross strengthened its presence in Nebraska and Ohio while dd’s bolstered its store base in Illinois,” said Gregg McGillis, Group Executive Vice President, Property Development. “Looking ahead, we remain confident in our expansion plans and continue to see plenty of opportunity to grow to at least 2,400 Ross Dress for Less and 600 dd’s DISCOUNTS locations over time.”

Shares of Ross have been uncharacteristically weak this year. The shares peaked at $134 in May. Lately, ROST has traded as low as $105. The company should report earnings again shortly before Thanksgiving.

Posted by on October 11th, 2021 at 11:54 am


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