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| Ross Stores Announces New Southern California Distribution Center |
Creates Network Designed to Support Growth and Improve Productivity
NEWARK, Calif., April 25 /PRNewswire-FirstCall/ --
Ross Stores, Inc. (Nasdaq: ROST) announced today its plans for a new
distribution center in Southern California. The new facility is an integral
part of the company's long-term distribution network strategy to support
future store growth and enhance the company's overall productivity.
In June 2002, the company expects to open a new 1.3 million square foot
distribution center in Fort Mill in York County, South Carolina, which is just
south of Charlotte, North Carolina. The company also recently began
construction on another new 1.3 million square foot distribution center in
Perris, California, about 70 miles southeast of Los Angeles. These two new
distribution centers will share the same updated warehouse management systems
and technology, which also will be retrofitted into the company's existing
Carlisle, Pennsylvania distribution center. As a result, the company plans to
move its primary West Coast distribution capabilities from the 18-year-old
Newark, California distribution center to the new Perris center as soon as the
new facility is fully operational, currently targeted for the third quarter of
2003.
In commenting on this news, Jim Peters, President and Chief Operating
Officer, stated, "These supply chain, systems and infrastructure investments
will create a solid platform for us to seize the numerous growth opportunities
throughout the United States. By the end of 2005, we expect to be operating
about 700 stores with sales approaching $5 billion, which represents increases
of well over 50% in stores and sales, compared to 2001 totals."
Mr. Peters continued, "These three centers -- South Carolina, Pennsylvania
and Southern California - are strategically located in terms of sourcing and
shipping our products to our network of stores across the country. All three
centers will also share new warehouse management systems and technology, which
are expected to significantly improve distribution center productivity. As a
result, over the next few years, we expect to realize a measurable improvement
in two of our largest cost centers -- distribution and freight -- while also
creating a distribution network that will support our growth initiatives over
the next several years."
Forward-Looking Statements: This press release contains certain
forward-looking statements which are subject to risks and uncertainties that
could cause the company's actual results to differ materially from
management's current expectations. The words "expect," "anticipate,"
"estimate," "believe" and similar expressions identify forward-looking
statements. Risk factors include a general deterioration in economic trends,
ongoing competitive pressures in the apparel industry, obtaining acceptable
store locations, the company's ability to continue to purchase attractive
name-brand merchandise at desirable discounts, the company's ability to
successfully open distribution centers in South Carolina and Southern
California in a timely and cost-effective manner, the company's ability to
successfully extend its geographic reach into new markets, unseasonable
weather trends, changes in the level of consumer spending on or preferences in
apparel or home-related merchandise, the company's ability to attract and
retain the retail talent necessary to execute its strategies, the company's
ability to implement and integrate various new systems and technologies, and
greater than planned costs. Other risk factors are detailed in the company's
Form 10-K for fiscal 2001. The company does not undertake to publicly update
or revise these forward-looking statements even if experience or future
changes indicate that any projected results expressed or implied herein will
not be realized.
Ross Stores, Inc. reported sales of $3.0 billion in 2001, its most recent
fiscal year. The off-price retailer operates 465 stores in 22 states,
offering first-quality, in season, branded apparel, accessories and footwear
for the entire family as well as gift items and linens for the home all at
everyday savings of 20% to 60% less than regular department and specialty
store prices.
SOURCE Ross Stores, Inc.
back to topRelated links:
Company News On-Call:
CONTACT:
John G. Call, Senior Vice President & Chief
Financial Officer, +1-510-505-4315, or Katie Loughnot, Director,
Investor Relations, +1-510-505-4509, or katie.loughnot@ros.com,
both of Ross Stores
