| Ross Stores, Inc. | |
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| Type | Department store |
| Founded | 1954 (San Bruno, California) |
| Headquarters | Pleasanton, California |
| Key people | Michael Balmuth, CEO |
| Industry | Retail |
| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares. |
| Slogan | "There's No Comparison" |
| Website | http://www.rossstores.com/ |
Ross Stores, Inc. NASDAQ: ROST is a chain of American department stores. It is the nation's third largest off-price retailer with fiscal 2005 revenues of $4.9 billion. As of January 28, 2006, the company operated 714 Ross stores in 26 U.S. states and Guam. There are currently no Ross stores in the midwest or New England. [1]
History
Ross Department Store was first opened in San Bruno, California, in 1954. The next store was established in Pacifica, California, in the late 1950s. In addition, Ross offered a credit card which worked at all Ross stores. The credit card was later dropped and the format changed to what it is today in 1982. Ross also operates the DD's Discounts chain of clothing and furniture stores, designed to cater to lower-income consumers with prices below those of the main Ross stores. Ross and DD's Discounts stores often operate side by side in space formerly used by a large box store such as a grocery store and then subdivided. While a part of the same company, both stores operate completely independently and carry different merchandise assortments with DD's having a more "urban" flavor In 1984, Ross acquired the Plumas Chain from Target. On 20 February 2004, numerous current and former employees of Ross Stores, Inc., filed a class action complaint against the company alleging that Ross violated California wage laws by failing to pay its hourly employees for working through meal periods and rest breaks, for overtime work, and for working "off the clock". The case was filed in the Superior Court of the State of California. Ross offers brand name clothing, footwear, bedding, furniture, fine jewelry, beauty products, and housewares. All merchandise is 20 - 60% below regular department and specialty store prices. On the other hand, return policies are far more restrictive than at regular department stores. The return policy has a provision that "Refunds will not be given on any merchandise that is used, worn, or altered"; this policy applies even to items that are obviously defective. A list of consumer complaints about the Ross stores can be found at the following URL: http://www.consumeraffairs.com/retail/ross.html
