Ross Opens 2,000th Location as Customers Seek Relief From Inflation

Discount apparel retailer Ross Stores has opened 40 new stores in recent months, part of a plan to grow to 3,000 brick-and-mortar locations as inflation-weary consumers seek deals on apparel.

According to a Monday (Oct. 31) news release, the company has opened 28 Ross Dress for Less stores and 12 dd’s Discounts stores in 21 states.

Ross Stores Group Executive Vice President for Property Development Gregg McGillis said the openings come on the heels of the chain’s 2,000th store.

“Looking ahead, we remain confident in our expansion plans and continue to see plenty of opportunity to grow to at least 2,900 Ross Dress for Less and 700 dd’s DISCOUNTS locations over time,” he said in the release.

The move finds Ross adding stores in a bid to attract value shoppers who are seeking deals on clothing. While their numbers have dipped somewhat in recent months, most Americans now live paycheck to paycheck, leading them to rethink their purchases and to look for bargains.

This year saw the retailer’s stock dip 25% in late May following disappointing first-quarter earnings, although it has shot back up in recent months. At the time, CEO blamed inflationary pressure exacerbated by the Russia-Ukraine war.

See also: Paycheck-to-Paycheck Consumers Rethink What’s Essential

Those inflationary pressures have consumers rethinking clothing purchases, as they prioritize groceries above all else as PYMNTS research has found.

Our data found that just 46% of consumers who live paycheck to paycheck and have issues paying bills had purchased clothing and accessories in the 30 days before the study, while 36% bought beauty or cosmetics products. For paycheck-to-paycheck consumers who don’t have issues paying bills, those shares were at a respective 59% and 42%.

Meanwhile, consumers who do not live paycheck to paycheck were 30% more likely to have purchased clothing and accessories than consumers who are living paycheck to paycheck, our research found.

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