Ross Stores Enters the Atlanta, Georgia Market
NEWARK, Calif., March 6 /PRNewswire/ -- Ross Stores, Inc. (Nasdaq: ROST), the nation's second largest off-price apparel retailer, will enter the Atlanta, Georgia market with the grand opening of two stores in Douglasville and Lawrenceville on Saturday, March 10th.
A 32,628 square foot store will open in Douglasville Pavillion, at the intersection of I-20 and Chapel Hill Road. Another 33,400 square foot store will be located in Lawrenceville Market, at the intersection of Highway 120 and Lawrenceville-Suwanee Road. Ross plans to open three more stores in the Altanta region by the fall of 2001.
On grand opening day through March 18th, customers can enter to win a $500 shopping spree or one of ten $100 shopping sprees at both locations.
To celebrate the retailer's entry into the Atlanta market, Ross, in conjunction with the Make-A-Wish Foundation, will host a fundraising Preview Night before the grand opening at the Lawrenceville store. A portion of the evening's proceeds will go towards the Make-A-Wish Foundation. Founded in 1980, the organization is dedicated to granting wishes to children with life threatening illnesses. The Greater Atlanta and North Georgia chapter of Make-A-Wish has been responsible for granting over 400 wishes since it was established in 1995.
In commenting on this news, Jim Peters, President and Chief Operating Officer, stated, "We are excited about the opportunity to offer our new Atlanta customers great bargains on name brand apparel and home-related merchandise. Our Douglasville and Lawrenceville locations are the first of 25 to 30 stores Ross plans to open in Georgia, North Carolina and South Carolina in 2001 and 2002. By 2004, we expect to operate as many as 50 stores in these three states."
Ross Stores, Inc. reported sales of $2.7 billion in 2000, its most recent fiscal year. The off-price retailer currently operates 409 stores in 17 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.
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 obtaining acceptable new store locations, competitive pressures in the apparel industry, changes in the level of consumer spending on or preferences in apparel or home-related merchandise and the ability to successfully implement systems to support regional merchandising. Other risk factors are detailed in the company's Form 10-K for fiscal 1999. 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. SOURCE Ross Stores, Inc.
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CONTACT: John G. Call, Senior Vice President & Chief Financial Officer, 510-505-4315, or Katie Loughnot, Director, Investor Relations, 510-505-4509, or firstname.lastname@example.org, both of Ross Stores, Inc./