Ross 2006 Annual Report Download - page 11

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Please find page 11 of the 2006 Ross annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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Alabama 11
Arizona 38
California** 223
Colorado 25
Delaware 1
Florida 87
Georgia 40
Guam 1
Hawaii 11
Idaho 8
Louisiana 9
Maryland 16
Mississippi 3
Montana 5
Nevada 14
New Jersey 8
New Mexico 5
North Carolina 26
Oklahoma 13
Oregon 21
Pennsylvania 22
South Carolina 18
Tennessee 14
Texas 117
Utah 9
Virginia 23
Washington 27
Wyoming 2
Total 797
New store expansion is targeted to exceed 11% in 2007.
We plan to open about 90 new locations in 2007, comprised
of about 63 Ross Dress for Less and 27 dd’s DISCOUNTS
stores. This increased growth rate is helped by the oppor-
tunistic real estate acquisition we made in late 2006 to take
over the leases of more than 40 former Albertsons sites.
These stores are all in established top-performing markets
for Ross, including California, Florida, Texas, Arizona,
Colorado and Oklahoma. We plan to re-open about half of
these sites in 2007 as Ross Dress for Less stores and half
as dd’s DISCOUNTS.
Sales and profit trends at dd’s DISCOUNTS
were stronger than expected in 2006.
We launched this new business in 2004, targeting a customer
segment that we did not believe we were reaching in a
meaningful way with our core Ross Dress for Less business.
These stores feature more moderately-priced assortments
of first-quality, in-season, name-brand and fashion apparel,
accessories, footwear and home merchandise for the entire
family at everyday savings of 20% to 70% off moderate
department and discount store regular prices.
Accelerated growth of dd’s DISCOUNTS planned in 2007.
Our stronger than expected sales and profit trends in 2006
gave us the confidence to take advantage of the Albertsons
real estate opportunity to more than double the size of this
young chain from 26 to 53 locations in 2007. We plan to
add 27 new dd’s DISCOUNTS over the next year, including
entry into new markets that, like California, feature a range
of demographics that we believe are favorable for both Ross
and dd’s DISCOUNTS.
this is how we got here
growth
**California includes 26 dd’s DISCOUNTS
11