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This excerpt taken from the ROST 10-Q filed Jun 10, 2009. Stores. Our expansion strategy is to open additional stores based
on market penetration, local demographic characteristics, competition, expected
store profitability, and the ability to leverage overhead expenses. We
continually evaluate opportunistic real estate acquisitions and opportunities
for potential new store locations. We also evaluate our current store locations
and determine store closures based on similar criteria.
These excerpts taken from the ROST 10-K filed Mar 31, 2009. Stores
At January 31, 2009, we operated a total of 956 stores comprised of 904 Ross stores and 52 dd’s DISCOUNTS stores. Our stores are conveniently located in predominantly community and neighborhood shopping centers in heavily populated urban and suburban areas. Where the size of the market permits, we cluster stores to benefit from economies of scale in advertising, distribution and field management. We believe a key element of our success is our organized, attractive, easy-to-shop, in-store environments at both Ross and dd’s DISCOUNTS, which allow customers to shop at their own pace. Our stores are designed for customer convenience in their merchandise presentation, dressing rooms, checkout and merchandise return areas. Each store's sales area is based on a prototype single floor design with a racetrack aisle layout. A customer can locate desired departments by signs displayed just below the ceiling of each department. We encourage our customers to select among sizes and prices through prominent category and sizing markers, promoting a self-service atmosphere. At most stores, shopping carts are available at the entrance for customer convenience. All cash registers are centrally located at store exits for customer ease and efficient staffing. We use point-of-sale (“POS”) hardware and software systems in all stores, which minimizes transaction time for the customer at the checkout counter by electronically scanning each ticket at the point of sale and authorizing credit for personal checks and credit cards in a matter of seconds. In addition, the POS systems allow us to accept PIN-based debit cards and electronic gift cards from customers. For Ross and dd’s DISCOUNTS combined, approximately 58% of payments in fiscal 2008 and 56% of payments in fiscal 2007 were made with credit cards and debit cards. We provide cash or credit card refunds on all merchandise returned with a receipt within 30 days. Merchandise returns having a receipt older than 30 days are exchanged or credited with a credit voucher at the price on the receipt. 5 Stores At January 31, 2009, we operated a We believe a key element of our We use point-of-sale (“POS”) 5 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stores
At January 31, 2009, we operated a total of 956 stores, of which 904 were Ross Dress for Less® (“Ross”) locations in 27 states and Guam and 52 were dd’s DISCOUNTS® stores in four states. All stores are leased, with the exception of two locations which we own. During fiscal 2008, we opened 72 new Ross stores and closed six existing stores. The average new Ross store in fiscal 2008 was approximately 29,500 gross square feet, yielding about 24,500 square feet of selling space. As of January 31, 2009, our 904 Ross stores generally ranged in size from about 25,000 to 35,000 gross square feet and had an average of 29,900 gross square feet and 23,800 selling square feet. During fiscal 2008, we opened five new dd’s DISCOUNTS stores and closed five existing stores. The average new dd’s DISCOUNTS store in fiscal 2008 was approximately 23,600 gross square feet, yielding about 18,600 square feet of selling space. As of January 31, 2009, our 52 dd’s DISCOUNTS stores had an average of 25,000 gross square feet and 20,300 selling square feet. Our dd’s DISCOUNTS stores are currently located in California, Florida, Texas, and Arizona. During fiscal 2008, no one store accounted for more than 1% of our sales. 9 We carry earthquake insurance for business interruption, inventory and personal property to mitigate our risk on our corporate headquarters, distribution centers, buying offices, and all of our stores. Our real estate strategy in 2009 and 2010 is to open stores in states where we currently operate to increase our market penetration and to reduce overhead and advertising expenses as a percentage of sales in each market. Important considerations in evaluating a new store location are the availability and quality of potential sites, demographic characteristics, competition, and population density of the local trade area. In addition, we continue to consider opportunistic real estate acquisitions. The following table summarizes the locations of our stores by state as of January 31, 2009 and February 2, 2008. At January 31, 2009, we had 39 dd’s DISCOUNTS stores in California, 6 in Florida, 5 in Texas, and 2 in Arizona. At February 2, 2008, we had 36 dd’s DISCOUNTS stores in California, 9 in Florida, 5 in Texas, and 2 in Arizona.
Where possible, we have obtained sites in buildings requiring minimal alterations. This has allowed us to establish stores in new locations in a relatively short period of time at reasonable costs in a given market. To date, we have been able to secure leases in suitable locations for our stores. At January 31, 2009, the majority of our stores had unexpired original lease terms ranging from three to ten years with three to four renewal options of five years each. The average unexpired original lease term of our leased stores is six years, or 22 years if renewal options are included. See Note E of Notes to Consolidated Financial Statements. 10 See additional discussion under “Stores” in Item 1. Stores At January 31, 2009, we operated a During fiscal 2008, we opened 72 During fiscal 2008, we opened five During fiscal 2008, no one store 9 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
We carry earthquake insurance for Our real estate strategy in 2009 The following table summarizes the
Where possible, we have obtained 10 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
See additional discussion under Stores. Total stores open at the end of 2008, 2007 and 2006 were
956, 890 and 797, respectively. The number of stores at the end of fiscal 2008,
2007 and 2006 increased by 7%, 12% and 9% from the respective prior years. Our
expansion strategy is to open additional stores based on market penetration,
local demographic characteristics, competition, expected store profitability,
and the ability to leverage overhead expenses. We continually evaluate
opportunistic real estate acquisitions and opportunities for potential new store
locations. We also evaluate our current store locations and determine store
closures based on similar criteria.
Stores. Total stores open at the end of 2008, 2007 and 2006 were 956, 890 and 797, respectively. The number of stores at the end of fiscal 2008, 2007 and 2006 increased by 7%, 12% and 9% from the respective prior years. Our expansion strategy is to open additional stores based on market penetration, local demographic characteristics, competition, expected store profitability, and the ability to leverage overhead expenses. We continually evaluate opportunistic real estate acquisitions and opportunities for potential new store locations. We also evaluate our current store locations and determine store closures based on similar criteria.
This excerpt taken from the ROST 10-Q filed Dec 10, 2008. Stores. Our expansion strategy is to open additional stores based
on market penetration, local demographic characteristics, competition, and the
ability to leverage overhead expenses. We continually evaluate opportunistic
real estate acquisitions and opportunities for potential new store locations. We
also evaluate our current store locations and determine store closures based on
similar criteria.
This excerpt taken from the ROST 10-Q filed Sep 10, 2008. Stores. Our expansion strategy is to open additional stores based
on market penetration, local demographic characteristics, competition, and the
ability to leverage overhead expenses. We continually evaluate opportunistic
real estate acquisitions and opportunities for potential new store locations. We
also evaluate our current store locations and determine store closures based on
similar criteria.
This excerpt taken from the ROST 10-Q filed Jun 11, 2008. Stores. Our expansion strategy is to open additional stores based
on market penetration, local demographic characteristics, competition, and the
ability to leverage overhead expenses. We continually evaluate opportunistic
real estate acquisitions and opportunities for potential new store locations. We
also evaluate our current store locations and determine store closures based on
similar criteria.
These excerpts taken from the ROST 10-K filed Apr 1, 2008. Stores. Total stores open at the end of 2007, 2006 and 2005 were
890, 797 and 734, respectively. The number of stores at the end of fiscal 2007,
2006 and 2005 increased by 12%, 9% and 13% from the respective prior years. Our
expansion strategy is to open additional stores based on market penetration,
local demographic characteristics, competition, and the ability to leverage
overhead expenses. We continually evaluate opportunistic real estate
acquisitions and opportunities for potential new store locations. We also
evaluate our current store locations and determine store closures based on
similar criteria.
Stores. Total stores open at the end of 2007, 2006 and 2005 were 890, 797 and 734, respectively. The number of stores at the end of fiscal 2007, 2006 and 2005 increased by 12%, 9% and 13% from the respective prior years. Our expansion strategy is to open additional stores based on market penetration, local demographic characteristics, competition, and the ability to leverage overhead expenses. We continually evaluate opportunistic real estate acquisitions and opportunities for potential new store locations. We also evaluate our current store locations and determine store closures based on similar criteria.
This excerpt taken from the ROST 10-Q filed Dec 12, 2007. Stores. Our operating strategy is to open additional stores based
on local market penetration, local demographic characteristics including
population, competition, and the ability to leverage overhead expenses. We
continually evaluate opportunistic real estate acquisitions and opportunities
for potential new store locations. We also evaluate our current store locations
and determine store closures based on similar criteria.
This excerpt taken from the ROST 10-Q filed Sep 12, 2007. Stores. Our operating strategy is to open additional stores based on local market penetration, local demographic characteristics including population, competition, and the ability to leverage overhead expenses. We continually evaluate opportunistic real estate acquisitions and opportunities for potential new store locations. We also evaluate our current store locations and determine store closures based on similar criteria.
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