Advertisement
YOU ARE HERE: LAT HomeCollections

Ross Plans New Distribution Center

April 26, 2002|ABIGAIL GOLDMAN | TIMES STAFF WRITER

Ross Stores Inc. said Thursday that it is opening a distribution center in Southern California as part of the retailer's ambitious, four-year expansion program.

The new 1.3-million-square-foot facility in Perris, about 70 miles southeast of Los Angeles, will handle operations now done by the company's Northern California distribution center.

Newark, Calif.-based Ross, which has boomed along with other value-priced merchants, has nearly doubled its store openings since the late 1990s, when the company opened about 30 stores each year.

Now with 465 stores in 22 states, Ross will open between 50 and 55 stores, increasing square footage by just more than 11%. The company expects to maintain that growth rate for the next few years, said Katie Loughnot, the company's director of investor relations. By the end of 2005, Loughnot said, Ross will operate nearly 700 stores--a 50% growth in the store base in four years. Ross is projecting sales in 2005 of $5 billion.

The Los Angeles area has Ross' largest concentration of stores, with more than 60. There are 90 stores in Southern California.

Ross shares gained 96 cents to close at $39.87 on Nasdaq.

Advertisement
Los Angeles Times Articles
|
|
|