Ross Stores Inc. ROST, -4.83% said Monday it plans to open 100 new locations in 2022. The Dublin, California-based off-price retailer said it already opened 22 Ross Dress for Less and eight dd’s Discounts stores in 15 states and Guam in February and March.
Overall, the company is planning to open 75 Ross and 25 dd’s in 2022.”Our return to stronger unit growth in 2022 reflects our belief that Ross can ultimately grow to 2,900 locations and dd’s DISCOUNTS can become a chain of 700 stores given consumers’ ongoing focus on value and convenience,” said Gregg McGillis, group EVP, property development. The company currently has a total of 1,952 Ross Dress for Less and dd’s locations in 40 states, the District of Columbia and Guam. Shares were down 0.5% premarket and have lost 20% in the last 12 months, while the S&P 500 SPX, -2.95% has gained 12.7%.