Ross 2015 Annual Report Download - page 35

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33
Stores. Total stores open at the end of fiscal 2015, 2014, and 2013 were 1,446, 1,362, and 1,276, respectively. The number
of stores at the end of fiscal 2015, 2014, and 2013 increased by 6%, 7%, and 6% 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.
Store Count
2015
2014
2013
Beginning of the period
1,362
1,276
1,199
Opened in the period
90
95
88
Closed in the period
(6
)
(9
)
(11
)
End of the period
1,446
1,362
1,276
Selling square footage at the end of the period (000)
31,900
30,400
28,900
Sales. Sales for fiscal 2015 increased $0.9 billion, or 8.1%, compared to the prior year due to the opening of 84 net new
stores during 2015 and a 4% increase in comparable store sales (defined as stores that have been open for more than 14
complete months). Sales for fiscal 2014 increased $0.8 billion, or 7.9%, compared to the prior year due to the opening of 86
net new stores during 2014 and a 3% increase in sales from comparable stores.
Our sales mix is shown below for fiscal 2015, 2014, and 2013:
2015
2014
2013
Ladies
29%
29%
29%
Home Accents and Bed and Bath
25%
24%
24%
Accessories, Lingerie, Fine Jewelry, and Fragrances
13%
13%
13%
Men's
13%
13%
13%
Shoes
12%
13%
13%
Children's
8%
8%
8%
Total
100%
100%
100%
We intend to address the competitive climate for off-price apparel and home goods by pursuing and refining our existing
strategies and by continuing to strengthen our organization, diversify our merchandise mix, and more fully develop our
systems to improve regional and local merchandise offerings. Although our strategies and store expansion program
contributed to sales gains in fiscal 2015, 2014, and 2013, we cannot be sure that they will result in a continuation of sales
growth or in an increase in net earnings.