Ross 2006 Annual Report Download - page 15

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In addition, a total of $34 million of cash dividends was paid to stockholders during the year. In January 2007, the Board
approved a 25% increase to our quarterly dividend to $.075 per share, our 13th consecutive annual dividend increase.
Targeting Accelerated Unit Growth in 2007
We plan to open about 90 net new stores in 2007, for 11% to 12% unit growth, including 63 Ross Dress for Less and 27
dd’s DISCOUNTS. This accelerated expansion program is partially driven by the opportunistic real estate acquisition we
made in the latter part of 2006. We are taking over the leases of about 40 former Albertsons sites, all in established top-
performing markets including California, Florida, Texas, Arizona, Colorado and Oklahoma.
About half of the 40 former Albertsons sites are planned to reopen as Ross Dress for Less stores and half as dd’s
DISCOUNTS. The solid progress we made in 2006 with dd’s DISCOUNTS gives us the confidence to take advantage of
this real estate transaction to more than double the number of dd’s DISCOUNTS stores in 2007, including its initial entry
into the Sunbelt states of Arizona, Florida and Texas, markets that we know well and where we have a significant Ross
Dress for Less presence.
Celebrating 25 Years With a Focus on Future Opportunities
We will reach a special milestone in 2007—our 25th anniversary. We began this business in 1982 by offering great bargains
on name-brand fashions for the entire family in six stores in the San Francisco Bay Area. Our continued success depends
on our ability to offer our customers attractive bargains—but today we do that in over 800 locations.
We could not have accomplished this tremendous achievement without the contributions of our associates, customers,
vendors and investors, and we thank them for their continued dedication and support.
As we look to the future, we try to do so with the same excitement and entrepreneurial spirit of 25 years ago. Even though
the complexities of operating our business have increased along with our size, we know that staying focused on our core
strategy of delivering bargains to our customers will remain the key to maximizing our prospects for future growth and
profitability.
Sincerely,
Norman A. Ferber
Chairman of the Board
Michael Balmuth
Vice Chairman, President
and Chief Executive Officer
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