Ross Dress For Less opens first Hampton Roads store in the Divaris-leased Crossways Shopping Center in Chesapeake, Virginia.

Ross Dress for Less Opens First Hampton Roads Store

HAMPTON ROADS, VIRGINIA – As if fitting into today’s tight styles isn’t difficult enough, in these tough economic times it can seem that the only lean part of you is your wallet. Wandering the malls and seeing overpriced tags is enough to make you cry with frustration. Luckily, there is Ross Dress For Less (Nasdaq: ROST). While they may not carry the tissues to dry your tears, you’re sure to find a cute bag to put them in.

Targeted towards value-conscious men and women between the ages of 25 and 54, Ross is an off-price retailer. Each store carries hundreds of brand name, in-season items of apparel, accessories and footwear for the entire family, as well as merchandise for the home, listed at 20 to 60 percent below department store and specialty store regular prices every day.

The company was founded in 1982 in the San Francisco Bay area when six junior department stores were acquired by a group of investors. By the end of 1983, the store had expanded into Southern California and Nevada and its 26 stores boasted sales of $76 million. In August of 1985, Ross sold 12 million shares of common stock in its initial public offering and today operates over 500 stores in 23 states. In 2001, its most recent fiscal year, Ross reported sales of $3 billion. 

Each Ross store averages about 30,000 square feet. Items are laid out in a self-service, easy-to-shop format. Debra Greene, a frequent Ross shopper, finds the set up very convenient, “I always find exactly what I'm looking for at Ross,” she says.  “The selection is fabulous.  They have everything I need for my home, the clothes are always in style, and it's just around the corner. You can’t ask for much more than that."    While most Ross stores can be found in in-line power centers, they also have several stand-alone and mall locations.

Most recently, Ross opened its first Hampton Roads store in Chesapeake, Virginia. Located in the Divaris-leased Crossways Shopping Center, the 30,187-square-foot store joins Panera Bread, T.J. Maxx, The Vitamin Shoppe, DSW Shoe Warehouse, Marshalls, Starbucks, Value City Furniture and Dress Barn.

The retail team of Gerald Divaris, Mary McGovern and DRE Richmond’s Debbie Wake, represent Ross Dress for Less for site selection and negotiations in southeastern, central and western Virginia. The Company is currently evaluating additional locations for stores in those markets.