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Ross Stores (ROST) Opens 40 Outlets, Delivers on FY18 Target
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Ross Stores (ROST - Free Report) maintained its trend of reaching the planned store expansions for the fiscal, ahead of time, by opening 40 stores in September and so far in October. The company’s recent openings include 30 Ross Dress For Less and 10 dd's DISCOUNTS stores. These store openings mark Ross Stores’ expansion in 19 different states in new and existing markets.
For fiscal 2018, management anticipated opening about 100 stores, comprising 75 Ross and 25 dd’s DISCOUNTS outlets. However, these numbers exclude its plans to relocate or close 10 existing stores during the fiscal.
We note that Ross Stores has consistently been on track with its store expansion plans. Currently, it operates nearly 1,500 Ross stores and more than 230 dd’s DISCOUNTS stores.
Further, Ross Stores’ focus on store expansion is highlighted by its recent research, which suggests that it has the potential to increase its reach in the existing as well as new markets. Consequently, it raised long-term projected store growth target to 3,000 from 2,500 stated earlier. This will include the opening of nearly 2,400 Ross Dress for Less stores (up from 2,000 stated earlier) and 600 dd’s DISCOUNTS stores (up from 500 mentioned earlier).
Ross Stores’ Strategies Remain Intact
In addition to store-expansion strategy, Ross Stores continues to focus on merchandising organization through investments in workforce, processes and technology to keep itself on the growth trajectory. The company has a proven business model as the competitive bargains that it offers continue to make its stores attractive destinations for customers in all economic scenarios.
Moreover, Ross Stores’ off-price model offers strong value proposition and micro-merchandising that drive better product allocation and margins. These actions make us confident of its growth potential alongside its ability to sustain top- and- bottom-line growth trends.
In fact, these actions are reflected in the company’s share price, which rallied 52.8% in the past year, faring better than the industry’s gain of 38.5%. Currently, Ross Stores carries a Zacks Rank #2 (Buy), with a VGM Score of B.
Interested in Solid Retail Stocks, Count on These
Burlington Stores, Inc. (BURL - Free Report) has a long-term earnings growth rate of 20.8%. Also, the company’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, with an average of 11.4%. Currently, the stock carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Target Corp. (TGT - Free Report) pulled off an average positive earnings surprise of nearly 1.3% in the last four quarters. It has a long-term earnings growth rate of 6.7%. The company currently carries a Zacks Rank #2.
The TJX Companies Inc. (TJX - Free Report) has an impressive long-term earnings growth rate of 10.9%. The company has delivered a positive earnings surprise of 7.3% and it presently carries a Zacks Rank of 2.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
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Ross Stores (ROST) Opens 40 Outlets, Delivers on FY18 Target
Ross Stores (ROST - Free Report) maintained its trend of reaching the planned store expansions for the fiscal, ahead of time, by opening 40 stores in September and so far in October. The company’s recent openings include 30 Ross Dress For Less and 10 dd's DISCOUNTS stores. These store openings mark Ross Stores’ expansion in 19 different states in new and existing markets.
For fiscal 2018, management anticipated opening about 100 stores, comprising 75 Ross and 25 dd’s DISCOUNTS outlets. However, these numbers exclude its plans to relocate or close 10 existing stores during the fiscal.
We note that Ross Stores has consistently been on track with its store expansion plans. Currently, it operates nearly 1,500 Ross stores and more than 230 dd’s DISCOUNTS stores.
Further, Ross Stores’ focus on store expansion is highlighted by its recent research, which suggests that it has the potential to increase its reach in the existing as well as new markets. Consequently, it raised long-term projected store growth target to 3,000 from 2,500 stated earlier. This will include the opening of nearly 2,400 Ross Dress for Less stores (up from 2,000 stated earlier) and 600 dd’s DISCOUNTS stores (up from 500 mentioned earlier).
Ross Stores’ Strategies Remain Intact
In addition to store-expansion strategy, Ross Stores continues to focus on merchandising organization through investments in workforce, processes and technology to keep itself on the growth trajectory. The company has a proven business model as the competitive bargains that it offers continue to make its stores attractive destinations for customers in all economic scenarios.
Moreover, Ross Stores’ off-price model offers strong value proposition and micro-merchandising that drive better product allocation and margins. These actions make us confident of its growth potential alongside its ability to sustain top- and- bottom-line growth trends.
In fact, these actions are reflected in the company’s share price, which rallied 52.8% in the past year, faring better than the industry’s gain of 38.5%. Currently, Ross Stores carries a Zacks Rank #2 (Buy), with a VGM Score of B.
Interested in Solid Retail Stocks, Count on These
Burlington Stores, Inc. (BURL - Free Report) has a long-term earnings growth rate of 20.8%. Also, the company’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, with an average of 11.4%. Currently, the stock carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Target Corp. (TGT - Free Report) pulled off an average positive earnings surprise of nearly 1.3% in the last four quarters. It has a long-term earnings growth rate of 6.7%. The company currently carries a Zacks Rank #2.
The TJX Companies Inc. (TJX - Free Report) has an impressive long-term earnings growth rate of 10.9%. The company has delivered a positive earnings surprise of 7.3% and it presently carries a Zacks Rank of 2.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>