With its "dress for less" motto, the discount department store lured cash-strapped consumers looking for bargains on everything from Calvin Klein shirts to Nike shoes.
Ross Stores saw sales rise rapidly amid high unemployment and a tepid economic recovery. For the fiscal year ending January 2012, revenues grew 9% to $8.6 billion, driven mainly by sales of dresses, home items and shoes. And while the chain saw robust sales in all regions, stores in Florida did particularly well. For the year ahead, Ross forecasts higher sales even as the economy recovers.
