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Ross Stores Opens Outlets, Forges Ahead with Expansion Plan
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In line with its expansion target for the first quarter of fiscal 2017, off-price retailer of apparel and home accessories, Ross Stores Inc. (ROST - Free Report) introduced 28 new stores in February and so far in March. These include 23 Ross Dress For Less and 5 dd's DISCOUNTS stores across 15 different states.
With this, this Zacks Rank #3 (Hold) company remains on track with its store expansion program. These store openings form part of the company’s plans to introduce nearly 70 Ross Dress For Less and 20 dd's DISCOUNTS stores in fiscal 2017.
Further, the new store openings are in line with Ross Stores’ strategy of expanding its presence in both existing as well as newer markets that commenced in 2011. Notably, the spring openings enhanced the company’s Midwest footprint, as nearly 25% of the new stores are located in that region. This also includes Ross Stores’ latest foray into Iowa.
Going forward, the company foresees major growth scope in some of the largest states where it operates, like California, Texas and Florida. Including the new stores, the company currently operates 1,561 Ross Dress For Less and dd's DISCOUNTS locations in 37 states, the District of Columbia and Guam.
That said, we remain confident of the company’s growth potential and its ability to successfully attain the target of expanding its store base to 2,500 − comprising 2,000 Ross and 500 dd’s DISCOUNTS stores − over the long term. Additionally, we believe the company is underpenetrated in the 37 states it serves and holds promise to substantially grow its store base in these markets.
Ross Stores has outperformed the Zacks categorized Retail – Discount & Variety industry in the last one year. Evidently, the company’s shares have jumped 18.5% in the last one year, outperforming the industry’s growth of 3.3% in the same period.
Stocks that Warrant a Look
Some better-ranked stocks in the broader retail space include Burlington Stores, Inc. (BURL - Free Report) , The Children's Place, Inc. (PLCE - Free Report) and Kate Spade & Company . While Burlington Stores and Children's Place sport a Zacks Rank #1 (Strong Buy), Kate Spade carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Burlington Stores’ long-term EPS growth rate of 15.9% and solid positive estimate revisions over the past seven days help it to stand strong in the industry. Moreover, the company flaunts a superb earnings surprise history.
Children's Place has an average positive earnings surprise of 36.3% in the trailing four quarters. The stock, with a long-term growth rate of 10.3%, has seen positive estimate revisions in the last 60 days.
Kate Spade, with long-term earnings per share (EPS) growth rate of 28.3%, has seen positive estimate revisions over the past 30 days.
Zacks' Top 10 Stocks for 2017
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Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>
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Ross Stores Opens Outlets, Forges Ahead with Expansion Plan
In line with its expansion target for the first quarter of fiscal 2017, off-price retailer of apparel and home accessories, Ross Stores Inc. (ROST - Free Report) introduced 28 new stores in February and so far in March. These include 23 Ross Dress For Less and 5 dd's DISCOUNTS stores across 15 different states.
With this, this Zacks Rank #3 (Hold) company remains on track with its store expansion program. These store openings form part of the company’s plans to introduce nearly 70 Ross Dress For Less and 20 dd's DISCOUNTS stores in fiscal 2017.
Further, the new store openings are in line with Ross Stores’ strategy of expanding its presence in both existing as well as newer markets that commenced in 2011. Notably, the spring openings enhanced the company’s Midwest footprint, as nearly 25% of the new stores are located in that region. This also includes Ross Stores’ latest foray into Iowa.
Going forward, the company foresees major growth scope in some of the largest states where it operates, like California, Texas and Florida. Including the new stores, the company currently operates 1,561 Ross Dress For Less and dd's DISCOUNTS locations in 37 states, the District of Columbia and Guam.
That said, we remain confident of the company’s growth potential and its ability to successfully attain the target of expanding its store base to 2,500 − comprising 2,000 Ross and 500 dd’s DISCOUNTS stores − over the long term. Additionally, we believe the company is underpenetrated in the 37 states it serves and holds promise to substantially grow its store base in these markets.
Ross Stores has outperformed the Zacks categorized Retail – Discount & Variety industry in the last one year. Evidently, the company’s shares have jumped 18.5% in the last one year, outperforming the industry’s growth of 3.3% in the same period.
Stocks that Warrant a Look
Some better-ranked stocks in the broader retail space include Burlington Stores, Inc. (BURL - Free Report) , The Children's Place, Inc. (PLCE - Free Report) and Kate Spade & Company . While Burlington Stores and Children's Place sport a Zacks Rank #1 (Strong Buy), Kate Spade carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Burlington Stores’ long-term EPS growth rate of 15.9% and solid positive estimate revisions over the past seven days help it to stand strong in the industry. Moreover, the company flaunts a superb earnings surprise history.
Children's Place has an average positive earnings surprise of 36.3% in the trailing four quarters. The stock, with a long-term growth rate of 10.3%, has seen positive estimate revisions in the last 60 days.
Kate Spade, with long-term earnings per share (EPS) growth rate of 28.3%, has seen positive estimate revisions over the past 30 days.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest tickers for the entirety of 2017?
Who wouldn't? These 10 are painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. They are our primary picks to buy and hold. Be among the very first to see them >>